(Washington, DC) – The Department of Housing and Community Development announced today the release of a Request for Applications (RFA) for Tax Credit Assistance Program Funds (TCAP).
Funded through the American Recovery and Reinvestment Act of 2009 (Recovery Act), the Department of Housing and Urban Development’s (HUD) new Tax Credit Assistance Program (TCAP) allows state housing finance agencies to resume funding of affordable rental housing projects across the nation while stimulating job creation in the hard-hit construction industry. In May, HUD announced the District of Columbia would receive $11.7 million in TCAP funds to complete affordable rental housing projects here.
To be eligible for TCAP funds, projects must have received an award of Low Income Housing Tax Credits (LIHTC) from January 2007 through September 30, 2009 and have satisfied eligibility requirements of the agency’s Qualified Allocation Plan (QAP). Projects awarded LIHTC prior to October 1, 2006 or after September 30, 2009 will not be eligible for TCAP funding.
The requirements, selection criteria and application for TCAP funds can be downloaded below. Developers of qualified projects may submit applications to DHCD through October 15, 2009.
For additional information on these or other stimulus programs through DHCD, please visit the District’s recovery website at recovery.dc.gov or contact Brad Hicks at (202) 442-7200 or [email protected].