HUD Publishes HOME/LIHTC Guidebook
HUD recently released the “HOME and the Low-Income Housing Tax Credit Guidebook,” a manual aimed at helping participating jurisdictions (PJs) navigate projects that combine funds generated through the Low-Income Housing Tax Credit (LIHTC) offered by the Internal Revenue Service with housing block grant funds provided through the HOME Investment Partnerships (HOME) Program administered by HUD.
This publication provides technical guidance to HOME PJs on how to assess these HOME-LIHTC applications, and how to comply with the requirements of both programs for the successful development of affordable multifamily rental projects.
The guidebook covers all areas of program compliance, including the application, underwriting, project commitment, construction, lease-up, and ongoing compliance during rental property management.
A copy of the guidebook can be found here.