Tax Credit Assistance Program (TCAP)
Housing and Urban Development's (HUD) new program, the Tax Credit Assistance Program, a part of the American Recovery and Reinvestment Act will provide grant funding for capital investment in Low Income Housing Tax Credit (LIHTC) projects to State housing credit allocation agencies. TCAP is funded under the HOME Program, and SDHDA will receive over $5.4 million in TCAP funding.
TCAP funding is available as grant or loan funding to LIHTC projects awarded LIHTCs between October 1, 2006 and September 30, 2009, and which need additional funding to be completed and placed in service. SDHDA will give priority to projects that are expected to be completed by February 2012.
Please refer to the following links for more information.
Tax Credit Exchange Program (TCEP)
The Treasury Department's new program, the Tax Credit Exchange Program, also a part of the American Recovery and Reinvestment Act, will allow states to exchange up to 40 percent of their 2009 LIHTC allocations for cash grants.
TCEP funding is available as grant or loan funding. Grants must be used by January 1, 2011.
Please refer to the following links for more information.
