Low Income Housing Tax Credits & Opportunity Housing in Missouri, 2015

Missouri's 2015 Qualified Allocation Plan considers the opportunity provided by the surrounding community when allocation 9% low income housing tax credits. 

Family developments located in a county whose median income is below the 2014 statewide median income, as established and published by HUD, and propose to set aside at least 20% of the total units to be occupied by households earning between 60% and 80% of the area median income (workforce units), are eligible for a basis boost of up to 30%.

MHDC considers housing needs when assessing applications for 9% tax credits. As such, developments must address the affordable housing needs of the state, region, and locality where they will be located. Important considerations regarding market need include:

 

  1. Number and growth of population and intended tenant population in the market area;
  2. Presence, condition, occupancy, and comparability of other affordable housing developments in the market area;
  3. Presence, condition, occupancy, and comparability of market rate housing in the market area;
  4. Capture rate for the proposed development; and
  5. Housing needs of the special needs population in the market area. 


No application proposing the delivery of new units will be approved if it is deemed by MHDC to adversely impact any existing MHDC development(s), exist in a questionable market, or create excessive concentration of multifamily units.

 

Contributed By: 
National Housing Trust

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