Kentucky's 2013 State Qualified Allocation Plan Finalized
February 9, 2012 – The Governor of Kentucky approved the 2013 State Qualified Allocation Plan (QAP) for low-income housing tax credits that was prepared by the Kentucky Housing Corporation (KHC). The Kentucky Housing Corporation committed 60% of the 2013 housing credits ($5.7 million) to applicants who submitted an application during the October 2011 application round and has an anticipated $9,546,607 still to award. Applications for 2013 housing credits are due on April 2, 2012. The QAP limits developers to submit one application and the credit request cannot exceed $500,000 per project.
The remaining 2013 credits will be allocated in three funding pools:
- Competitive Single Pool – Approximately $1.9 million for new construction, adaptive reuse or rehabilitation projects that do not have "new or assumed non-KHC federal debt."
- State Priority Set-Aside Pool – The state has set aside funds to meet specific housing needs ($740,000 for Recovery Kentucky and $784,000 Louisville HOPE VI).
- Maximizing Outcomes Pool – $385,323 is designated to allow KHC to make discretionary allocations to meet its policy goals.
The 2013 QAP is available here or can be downloaded from the KHC website.