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RIH Funding Announcement: Low Income Housing Tax Credits (LIHTC)

Application Deadline: 4:00 p.m. Friday, December 20, 2019

RIHousing seeks proposals for 2020 Low Income Housing Tax Credits (LIHTCs). LIHTC applications will be accepted for proposals that request financing for the construction and/or rehabilitation of properties to be used as affordable rental homes in Rhode Island. 

Applicants are encouraged to review the 2020 Qualified Allocation Plan, and proposals must:

  • Meet the required minimum set aside requirement of the Section 42 program.
  • Create a minimum of 20 new units.
  • For applications proposing preservation, 30% of the overall units in an application or 20 units, whichever is greater, must be newly created affordable homes.
  • As the LIHTC is a highly competitive and scarce resource, no single development may be awarded more than 40% of Rhode Island’s annual small-state minimum allocation.

Details and submission requirements are included in the RFP and available online.

For more information contact Anne Berman: 401-457-1269 or aberman@rihousing.com

Courtesy of RIHousing



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