Low Income Housing Tax Credits & Private Activity Bonds in New York, 2017

New York City's 2017 Qualified Allocation Plan requires extended use of projects if utilizing the 4% tax credits.

The New York City 2017 QAP asks Owners of 4% projects to enter into a regulatory agreement with HPD for extended low-income use of the project (i.e. a 30-year compliance period) that is in conformance with the requirements of Section 42. Therefore, the Owner would agree to maintain the Extended Use period by including in the regulatory agreement a waiver of the right to seek a qualified contract to purchase the project at the end of the 15-year compliance period.

Contributed By: 
National Housing Trust

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