HUD Expands FHA LIHTC Pilot Program
HUD recently announced the expansion of its FHA Low-Income Housing Tax Credit (LIHTC) Pilot program by increasing the number of participating HUD Hub Processing Offices by five and to make the pilot available to LIHTC projects nationwide. The program is designed to test streamlined approval processes for the purchase or refinancing of LIHTC properties.
The added HUD offices are in Atlanta, Denver, Fort Worth, San Francisco, and Seattle. They join the original participating Hub Offices in Boston, Chicago, Detroit, and Los Angeles.
Projects located in jurisdictions outside of the nine participating Hub Pilot Processing Offices will be assigned to a processing office by HUD headquarters. HUD said it will also be qualifying additional MAP Lenders for participation in the pilot program in a second lender selection round.
You can find out more information on the pilot program expansion here.