The Delaware State Housing Authority (DSHA) received nine (9) Low Income Housing Tax Credit (LIHTC) applications under the 2014 Qualified Allocation Plan (QAP) approved by Governor Jack Markell. Of the nine (9) applications, three (3) of them are seeking non-competitive 4% Low Income Housing Tax Credits (LIHTC) and six (6) of them are seeking competitive 9% Low Income Housing Tax Credits (LIHTC). While not competitive, the 4% Low Income Housing Tax Credit applications must still meet minimum threshold requirements.
Within the competitive round (those seeking 9% Low Income Housing Tax Credits(LIHTC)), four (4) nonprofit applications were received including one site in Seaford, two sites in Newark and one in the City of Wilmington. The remaining two applications are preservation deals in Dover and Wilmington.
The three 4% applications cover sites in Rehoboth, Lewes and Wilmington.
Among all the applications, one site is targeting seniors and the rest families; six of the applications are preservation deals and the remaining three are new construction deals.
Delaware normally funds around three (3) 9% Low Income Housing Tax Credit (LIHTC) deals per year. Looking at the numbers, it looks like this year could end up about there based on available resources.
You can see the full list of applications here: 2014 LIHTC Applications Received by Delaware.