Maryland Department of Housing and Community Development September 2015 Competitive Funding Round Updates
2015 Competition for LIHTCs and RHFs
Applications for the 2015 Competitive Funding Round are due by Tuesday, September 8, 2015 at 5:00 PM. Applications must be delivered to the mailroom on the ground floor of 7800 Harkins Road, Lanham, Maryland 20706. The 2015 Competitive Funding Round will be governed by the July 8, 2014 Qualified Allocation Plan and the May 15, 2015 Multifamily Rental Financing Guide (the “Guide”) both of which are currently available on the DHCD website.
Applications for Financing
An updated Application Submission Kit is posted to the DHCD website dated June 1, 2015.
Per Section 5.4.3 of the Guide, Construction or Rehabilitation Costs, the applicable Maximum Construction Costs per Square Foot have changed since the Fall 2014 round and can be found on Multifamily Housing Notice 15.06.
The Tax Credit raise-up to be used in scoring the Leveraging Category (Section 5.4.1) will be .94 cents. DHCD will not set the Raise-Up Rate for applications and will rely on applicants to submit a reasonable and financially feasible rate supported by a letter of intent from a tax credit investor or syndicator.
Frequently Asked Questions 2015 (FAQs)
A new version of Frequently Asked Questions has been posted to the DHCD website. Please continue to check the website for updates.
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