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.
