Low Income Housing Tax Credits & Preservation in Wyoming, 2016

Wyoming's 2016 Qualified Allocation Plan (QAP) offers points to projects that preserve existing federally-assisted buildings at risk of becoming market rate as well as projects that commit to an extended initial use period.

Point Incentives

Up to 40 points awarded to projects that preserves Project Based Rental Assistance at risk of becoming market rate.

Extended-Use

Extended Initial Compliance Period - Federal law requires a 15-year initial low income use and a 15 year extended use period with an option to sell the project at the end of the initial period. WCDA requires the initial compliance period to be a minimum of 20 years.

Wyoming’s 2016 QAP also awards points for extending the initial use period further. Maximum 35 points - Must score a minimum of 2 points.

A proposal will receive the following points for committing to a WCDA Compliance Period over and above HUD’s Affordability or IRS’ Compliance Period where the owner waives the right to a Qualified Contract and agrees to follow the restrictions as set forth in their Application:

  • 2 points - 5 Additional Years
  • 3 points - 10 Additional Years
  • 5 points - 15 Additional Years
  • 10 points - 20 Additional Years
  • 17 points - 25 Additional Years
  • 35 points - 35 Additional Years

Tie-Breakers

Wyoming’s 2015 QAP has a total costs tiebreaker where 40 points are available for both new construction and rehabilitation. Rehabilitation projects will receive up to 40 points for amenities and/or cost-effective upgrades incorporated into the rehabilitation.

Contributed By: 
National Housing Trust

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