Low-Income Housing Tax Credits & Preservation in Wyoming, 2017

Wyoming's 2017 Qualified Allocation Plan (QAP) awards points for rehabilitation projects.

Point Incentives

A project that preserves Project Based Rental Assistance at risk of going market rate may receive 2 of a maximum of 20 points under “project amenities.”

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 2017 QAP also awards points for extended the initial use period. 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 uses total project cost and reduced fees as categories for tie breakers.

Tie Breaker

Rehabilitation Project 

Rehabilitation projects will receive up to 40 points for amenities and/or cost-effective upgrades incorporated into the rehabilitation.

Reduced Fees

For Projects in which the combined Developer and Builder fees are less than 15%, tie breaker points will be awarded as follows: 

Combined fees at or below

13% - 1 point

11%  - 3 points

9% - 5 points

7% - 15 points

5% - 30 points

Community Revitalization Plan

A proposal will receive 5 points if the project being developed is located in a Qualified Census Tract and contributes to a concerted Community Revitalization Plan. Until “Community Revitalization Plan” (CRP) has been formally defined by HUD or the IRS, a Developer may provide a letter from the local jurisdiction, or the state, that the project sits in a CRP area. 

Contributed By: 
National Housing Trust

Other Items of Interest