Low Income Housing Tax Credit Program
The Low-Income Housing Tax Credit is a credit against federal income tax liability each year for 10 years for owners and investors in low-income rental housing. The amount of tax credits is based on reasonable costs of development, as determined by THDA, and the number of qualified low-income units.
Tax Exempt Multi-Family Bond Authority Program
THDA's Tax Exempt Multi-Family Bond Authority Program provides permanent real estate financing for property being developed for multifamily rental use in Tennessee. The development team should have sufficient experience in multifamily rental housing designed for use by low to moderate income tenants to assure the successful completion and operation of the development.
THDA Asset Management
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”).
Multifamily Properties for Sale
The owner of a low-income housing development can request to opt out of the low income housing tax credit program after the fourteenth year of the compliance period (or longer if additional points were taken to extend the compliance period at the time of application). The allocating state agency must attempt to locate a buyer willing to acquire the low-income housing development, and continue to operate the property as a low income property for the duration of the extended use period.
- By accessing this website, you acknowledge that the information regarding the properties listed on this website is provided by the owners of the properties and has not been independently verified by the Tennessee Housing Development Agency (“THDA”).THDA is only publicizing such information in the Qualified Contract process in its capacity as the credit allocating agency for Tennessee, in accordance with Section 42 of the Internal Revenue Code of 1986, as amended. THDA makes no representation or warranties, expressed or implied, and none should be inferred, as to the accuracy, validity, or timeliness of any information provided on this website. Any interested party is responsible for conducting their own independent due diligence regarding the accuracy of such information, the quality and marketability of the property, and the feasibility, suitability, and risk of undertaking any activity in connection with any property listed. Therefore, the THDA has no liability to any person or entity for any loss or damage (direct, indirect, special, consequential, or incidental) resulting in whole or in part on the reliance of any information provided herein.
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