May 15, 2009 – (RealEstateRama) — Kansas Housing Resources Corporation hereby publishes a preliminary draft of its Selection Criteria for funding through the Tax Credit Assistance Program (TCAP). All applications are evaluated based on the Selection Criteria in the Qualified Allocation Plan. KHRC will then rank and give priority to applications based on the following criteria:
- Developments that can be completed by February 12, 2012 (required of all applicants).
- Developments in federally declared disaster areas where a loss of rental housing has been identified.
- Developments with a 2008 credit allocation that can’t close due to a lack of sufficient equity.
- Developments that have investors but need gap funding.
- Developments that have completed the HOME environmental review process.
- Developments already under construction.
KHRC TCAP Selection Criteria are for public review and comments will be accepted from May 15 – May 20. A copy of the full TCAP application can be obtained by contacting KHRC. Comments and applications for TCAP funding should be directed to the Director of Rental Housing, Kansas Housing Resources Corporation, 611 S. Kansas Avenue, Suite 300, Topeka, 66603, (785) 296-5865, fax (785) 296-8985.