Low-Income Housing Tax Credit & Supportive Housing in Missouri, 2015

Missouri’s 2015 Qualified Allocation Plan (QAP) offers supportive housing projects a special set-aside of one third of total credits.

Set-Aside

Proposals that commit to a special needs set-aside of no less than 10% of total units up to a maximum of 100% of total units will receive priority consideration. The Missouri Housing Development Commission (MHDC) will endeavor to set aside 33% of federal and state 4% and 9% low income housing tax credits for projects containing units qualifying under the special needs housing priority outside the geographic set-aside, subject to the quality of the special needs proposals received and their ability to meet selection criteria and underwriting requirements.

Service Enriched Housing: Proposals offering significant services tailored to the tenant population will receive a preference in funding. To be considered under this priority a development must target a specific population. Examples include but are not limited to: (1) Elderly households (2) Individuals with children (3) Formerly homeless individuals and families (4) Individuals with physical and/or developmental disabilities, and (5) Individuals diagnosed with mental illness.

Developments targeting 100% of the units to special needs households must be designed and constructed in accordance with universal design principles. Developments with a special needs set-aside less than 100% must increase the number of units accessible to the mobility impaired from the 5% minimum to a percentage equal to or greater than the special needs set-aside percentage.

Other Policies

Applications submitted with Special Needs units must include $1,000 per special needs unit as a payment to the Special Needs Housing Reserve Fund, which has been established by MHDC. These funds will be held by MHDC and used as necessary to temporarily assist special needs properties who have experienced unforeseen operational issues, for example, the loss of rental assistance.

Proposals deemed difficult development areas, including projects that qualify for the special needs and service enriched housing priorities, are eligible to increase the qualified basis by an amount up to 30% in order to achieve financial feasibility.

If a development includes both tax credit and market rate units the market rate unit rents must be at least 15% higher than tax credit rents. This does not apply to special needs housing properties.

Contributed By: 
CSH

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