Please note that Round I 2017 Preliminary Project Assessment ("PPA") announcement letters will be issued by the end of today. Projects with an approved PPA are invited to submit an application for Low Income Housing Tax Credits ("LIHTC"). Application materials, including the 2016-2017 Low Income Housing Tax Credit Qualified Allocation Plan, can be found on the website.
Due to the uncertainty in the tax credit equity market, the Illinois Housing Development Authority (the "Authority") will have ONE 9% LIHTC application round in 2017. Applications will be due June 23, 2017. The Round II Preliminary Project Assessments will be due on March 3, 2017.
In early 2017, the Authority will provide guidance regarding subordinate resource requests and acceptable levels for equity pricing for the 2017 Applications. In addition, timeframes for submitting the Developer Experience Certification and Waiver of 4% Feasibility will be communicated.