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What is LIHTC?

2017 Qualified Allocation Plan
The 2017 application will be made available later this month.
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Click here for the 2017 Tax Credit Application.
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What is Low Income Housing Tax Credit (LIHTC)

The Low-Income Housing Tax Credit (LIHTC) is an affordable housing program that provides equity for affordable multi-family housing developments through the syndication of these credits. The LIHTC program is administered according to the rules and regulations outlined with the Affordable Housing Allocation Planand allocated through a competitive allocation process on an annual basis. Private for-profit and non-profit developers are eligible to apply for the LIHTC program. Specific scoring criteria, WCDA underwriting guidelines and application requirements and deadlines can be found within this document.

The Low-Income Housing Tax Credit was created by the Tax Reform Act of 1986 to encourage the construction and rehabilitation of housing for very low, low, and moderate-income individuals and families. Congress mandated that housing credit agencies adopt an "Allocation Plan" which defines the process used to distribute the Credit among projects.

The Tax Credit Program is a regulated and highly complex program. Final interpretations of certain rules and regulations governing various facets of the program have not yet been issued by the U.S. Department of Treasury; consequently, additional requirements or conditions applying to the tax credit may be forthcoming. It is strongly suggested that project sponsors interested in the Tax Credit Program contact their tax accountant and/or attorney before developing projects under the Tax Credit Program. While WCDA will endeavor to assist those persons applying for an allocation of tax credits, WCDA personnel are not tax or legal experts and applicants should not rely on WCDA for tax and/or legal advice.

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