Affordable Housing and Tax Credit Developments in Delaware2012 Delaware State Housing Authority Low Income Housing Tax Credit (LIHTC) Applications Received

April 23, 2012by George Danneman

The Delaware State Housing Authority (DSHA) received eight applications for 2012 Low Income Housing Tax Credits (LIHTC) in response to the 2012 Qualified Allocation Plan (QAP) for a total request of $4,160,226 LIHTC.  It could be said that this is the year of the new construction project.  Of the eight applications received, only one was a preservation deal.

In summary, the following applications were received:

Three non-profit applications (all of which are also new creation deals) from (1) Delaware Valley Development Inc. with Connections CSP, Inc. for a 29 units deal in Wilmington requesting $263,309 LIHTC; (2) Homes for America, Inc. for a 40 units deal in Laurel requesting $354,943 LIHTC; and (3) Milford Housing Development Corporation with David Layfield & Associates, Inc. for a 64 units deal in Greenwood requesting $479,538 LIHTC.

Four for-profit new creation deals from (1) Delaware Valley Development Inc. for a 68 units deal in Wilmington requesting $660,000 LIHTC; (2) MBI Development Company, Inc. for a 61 units deal in Milton requesting $660,000 LIHTC; (3) Chatham Bay/Kohl Development for a 80 units deal in Wilmington requesting $660,000 LIHTC; and (4) Michaels Development Company for a 44 units deal in Wilmington requesting $660,000 LIHTC.

The only preservation deal submitted this year is from Leon N. Weiner & Associates for a 145 units deal in Claymont requesting $908,970 LIHTC.  Assuming this one meets threshold, it should be funded.

The full list is here: 2012 LIHTC Applications Received by DSHA.

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