Low Income Housing Tax Credits & Preservation in Kansas, 2015

Kansas' 2015 Qualified Allocation Plan includes threshold requirements and points for preservation developments.

Kansas’ 2015 QAP identifies the preservation of housing with HUD Section 8 or USDA Housing Assistance contracts as a priority housing need. Projects are able to receive 15 bonus points for each priority need that they meet, up to 45 points. Projects that rehabilitate existing structurally sound and energy efficient affordable housing can receive points based on hard costs:

5 points for $10,000 - $15,000 per unit

10 points for $15,001 - $20,000

per unit 15 points for $20,001 - $25,000

per unit 20 points for over $25,001 per unit

Developments that preserve existing affordable housing that would be subject to foreclosure or default due to deteriorating physical conditions, high vacancy, or poor financial performance will receive 10 points.

Projects where the owner agrees to waive the provisions of the qualified contract relative to the sale of a building at the end of the first 15 years receive 15 points.

In the threshold criteria, KHRC requires that developers commit to extending their low-income use period beyond the initial compliance period of 15 years, for an additional period of at least 15 years.

There is a $10,000 minimum rehabilitation cost per unit averaged over a building. Existing low income properties under a threat of foreclosure and removal of existing tenants will be given a priority for financing.

Contributed By: 
National Housing Trust

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