Overview
The Tax Credit Assistance Program (TCAP) provides additional funds to agencies that allocate federal tax credits (State Housing Finance Agencies).
The funds are provided to coordinate with the Low Income Housing Tax Credit (LIHTC) to fill financing gaps caused by the collapse of the tax credit market and to jumpstart stalled housing development projects, thereby creating jobs.
State Implementation Plan
The public comment period regarding the TCAP Competitive Selection Process and Criteria as outlined in the ARRA Implementation Plan Draft (pages 6 through 9) was conducted on May 14 through May 20, 2009.
Outreach
On March 27, 2009, OHCS staff met with partners to discuss various programs that will be receiving ARRA funding. OHCS invited both housing partners and community services partners to the meeting to ensure a broad discussion of the issues.
The meeting reviewed the ARRA program requirements known to date and the guidelines expected in the weeks and months ahead. OHCS also outlined anticipated priorities for implementation of ARRA programs and invited input and discussion from those in attendance. Additional partner meetings are anticipated after more ARRA guidelines are released.
A subsequent meeting was held with partners on April 24th. Partners shared comments on the proposed priorities and implementation plans. The meeting reviewed strategies for using TCAP and Exchange Funds with other ARRA funds (Low-Income Weatherization, Homelessness Prevention).
Page updated: November 20, 2009
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