TCAP/1602 Programs

The American Recovery and Reinvestment Act and the American Recovery and Reinvestment Tax Act (collectively, the “Act”) which were signed into law on February 17, 2009, included two provisions involving low income housing tax credits (“tax credits”), the Tax Credit Assistance Program (“TCAP”) and a tax credit exchange program under Section 1602 of the Act (the “Section 1602 Program”).

TCAP amounts are expected to fund “capital investments” and fill the gap caused by lack of investor interest for tax credits. TCAP amounts can be used for developments that have or are expected to receive an award of tax credits, as specified further in the Program Description.

The Section 1602 Program amounts are expected to temporarily fill the gap caused by lack of investor interest for tax credits. Section 1602 Program amounts can be used for developments that have or are expected to receive an award of tax credits and may also be used for developments that do not have an award of tax credits, as specified further in the Program Description.

Updates and Announcements:

August 23, 2010 - Guidance Regarding Section 1602 and TCAP Final Draw Procedure
August 18, 2010 – REVISED Attachment 30 (Architect Certification)
August 16, 2010 - Status of Section 1602/TCAP Developments
July 28, 2010 – Section 1602 Phase II Preliminary Ranking
July 16, 2010 – Status of Section 1602/TCAP Developments
July 6, 2010 – Update Regarding 2010 Competitive Tax Credit and 2010 Section 1602 Phase II Notifications
June 24, 2010 - 2010 1602 Phase II Applicant Listing
June 16, 2010 - Status of Section 1602/TCAP Developments
April 13, 2010 – Status of Section 1602/TCAP Developments
April 8, 2010 – Guidance on Attachment 29 item 3 for Section 1602 Phase II applicants
April 2, 2010 – URGENT – Additional Documentation to be Submitted by Section 1602 Phase II Applicants
April 1, 2010 – Section 1602/TCAP Intercreditor Agreement for developments with a syndicator and anticipating multiple draws
April 1, 2010 – Section 1602/TCAP Intercreditor Agreement for developments with a syndicator and anticipating a single draw
April 1, 2010 – Section 1602/TCAP Intercreditor Agreement for developments with no syndicator and anticipating multiple draws
April 1, 2010 – Section 1602/TCAP Intercreditor Agreement for developments with no syndicator and anticipating a single draw
March 31, 2010 - Additional Guidance Regarding Section 1602/TCAP Draws
March 31, 2010 – Section 1602/TCAP Draw Documents (REVISED)
March 15, 2010 – Additional Guidance Regarding Special Needs and Section 1602 Phase II
March 9, 2010 – LIHTC / Section 1602 Phase II Initial Application Attachment 20
March 4, 2010 – Section 1602/TCAP Intercreditor Agreement (REVISED)
March 3, 2010 – Additional Guidance Regarding Section 1602 Phase II Applications
February 26, 2010 – LIHTC / Section 1602 Phase II Initial Application
February 18, 2010 – Section 1602 program Description (REVISED January 26, 2010)
February 17, 2010 – Section 1602/TCAP Request for Payment Form (REVISED)
February 2, 2010 – Revised Section 1602 Loan Agreement
January 29, 2010 – Revised TCAP Loan Agreement and TCAP Notes
January 6, 2010 – Regarding Funding Levels for Developments Receiving Section 1602 or TCAP Assistance Funds
January 5, 2010 – Memo regarding the January 8, 2010 TCAP deadline
December 16, 2009 – Information Regarding Deadline to Satisfy Requirements of TCAP Conditional Commitment Letter
December 15, 2009 – Guaranty Forms for Developments without a Syndicator Receiving Section 1602 Assistance
December 11, 2009 – Regarding Projected Asset Management Fees
December 9, 2009 – HUD Form 92448
December 7, 2009 – Specimen Section 1602 Loan Documents (REVISED)
December 7, 2009 – Specimen TCAP Loan Documents (REVISED)
December 7, 2009 – TCAP/Section 1602 Additional Closing Documents (REVISED)
November 16, 2009 - Reminder regarding Carryover requirements for Section 1602/TCAP recipients
November 6, 2009 – Section 1602/TCAP loan closing checklist
November 6, 2009 – Forms to be completed for disbursement of Section 1602/TCAP fund
October 31, 2009 - Modification to Deadline for Disbursement of Section 1602 Funds
October 22, 2009 - TCAP/Section 1602 Additional Closing Documents
October 12, 2009 – Specimen TCAP Loan Documents
October 12, 2009 – Specimen Section 1602 Loan Documents
October 9, 2009 – Modifications to Land Ownership/Leasing Requirements for 2008 competitive LIHTC Recipients
October 8, 2009 – Modifications to 10% Test Requirements for 2008 competitive LIHTC Recipients
October 8, 2009 – TCAP Affirmative Marketing Policy and Procedures
October 1, 2009 – TCAP Application (third round)
September 25, 2009 – Additional information regarding TCAP (second round)
September 3, 2009 - Clarification to Memo Concerning March 19, 2009
September 1, 2009 - TCAP Environmental Review Forms
August 28, 2009 - Memo Regarding Developments Combining MTBA, LIHTC, and TCAP
August 27, 2009 - Regarding Reservation Fees and Building Permits
August 27, 2009 - Regarding Modification to TCAP/Section 1602 Conditional Commitment Letter
August 24, 2009 - Regarding TCAP Environmental Requirements
August 24, 2009 - Regarding TCAP Davis-Bacon Requirements
August 24, 2009 - Handout Regarding TCAP/Section 1602 Reporting Requirements
August 21, 2009 - Recap of August 20 TCAP/Section 1602 Workshop
August 13, 2009 - August 13 – Notice Regarding TCAP/1602 Workshop and 2010 QAP Developer Forum
August 10, 2009 – TCAP/Section 1602 Exhibit A-1 - Form of Equity Certification-Not Yet Closed
August 10, 2009 – TCAP/Section 1602 Exhibit A-2 - Form of Equity Certification-Closed
August 10, 2009 – TCAP/Section 1602 Exhibit B - Final Expenditure/Construction Schedule
July 29, 2009 - ARRA / ARRTA First Round Applicants List
July 10, 2009 - TCAP & Section 1602 Application Package
July 10, 2009 - ARRA/ARRTA Status Update
July 2, 2009 - TCAP Program Description
June 9, 2009 - ARRA/ARRTA Status Update
June 5, 2009 - ARRA/ARRTA Status Update
May 22, 2009 - TCAP Program Outline
March 19, 2009 - Guiding Principles for Use in Developing Program Details for ARRA

If you would like to receive e-mail updates regarding changes to this page, please e-mail Felita Givens, or call at 615-815-2145.

If you have questions or need additional information, please contact Ed Yandell, Director of Multifamily Development.