Low Income Housing Tax Credits in Hawaii, 2013

Hawaii's 2013 Qualified Allocation Plan incentivizes the preservation of existing affordable rental housing at risk of being converted to market. 

Projects are eligible for 2 points if they fit the following criteria and agree to extend the affordability period for an additional 30 years:

  • An existing Low-Income Housing Tax Credit project with an expiring compliance period or expiring extended use period with an agreement to extend affordability for an additional 30 years
  • A project that is at risk of being converted to a market rate rental or for sale project, which may result in a loss of affordable rental units

The 2013 QAP also awards up to 8 points for a project that will receive Project-Based Rental Assistance subsidies. Eligible programs include, but are not limited to, USDA Section 515 or Section 8 programs. The number of points awarded will be based on the percentage of units subsidized. If 100% of units are subsidized, the project will receive the full 8 points. 

Extended Use: Points for be awarded for projects that agree to extend the length of their affordability committment based on the following:

  • 61 years or more: 6 points
  • 55-60 years: 5 points
  • 50-54 years: 4 points
  • 45-49 years: 3 points
  • 40 to 44 years: 2 points
  • 35-39 years: 1 point
  • Less than 35 years: 0 points
Contributed By: 
National Housing Trust

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