ARRA/ARRTA TCAP and Section 1602 Programs
Low-Income Housing Tax Credits
Multi-Family Tax-Exempt Bonds
Low Income Housing Tax Credit Program
The Low-Income Housing Tax Credit is a credit against federal income tax liability each year for 10 years for owners and investors in low-income rental housing. The amount of tax credits is based on reasonable costs of development, as determined by THDA, and the number of qualified low-income units.
Tax Exempt Multi-Family Bond Authority Program
THDA's Tax Exempt Multi-Family Bond Authority Program provides permanent real estate financing for property being developed for multifamily rental use in Tennessee. The development team should have sufficient experience in multifamily rental housing designed for use by low to moderate income tenants to assure the successful completion and operation of the development.
ARRA / ARRTA Tax Credit Assistance & Section 1602 Programs
The American Recovery and Reinvestment Act and the American Recovery and Reinvestment Tax Act (collectively, the “Act”) which were signed into law on February 17, 2009, included two provisions involving low income housing tax credits (“tax credits”), the Tax Credit Assistance Program (“TCAP”) and a tax credit exchange program under Section 1602 of the Act (the “Section 1602 Program”).
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, Program Liaison for Multifamily Development.
404 James Robertson Parkway | Suite 1200 | Nashville, TN 37243-0900
General Information: 615-815-2200 | Toll Free: 800-228-THDA | TTY Line: 615-532-2894
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