Grant: $39,032,515 - Department of Housing and Urban Development - Jun. 19, 2009
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Award Description: The Tax Credit Assistance Program (TCAP) is designed to provide funds to be used for developments that have or are expected to receive an award of Low Income Housing Tax Credits. The funds are designed to fund capital investments and to fill the gap caused by lack of investor interest for tax credits.
Project Description: The purpose of the TCAP program is to provide funds to state housing credit agencies for capital investments in stalled Low-Income Housing Tax Credit (LIHTC) projects. The benefit of the TCAP program will be to provide affordable rental housing to low-income households with attention to creating new or preserving existing jobs. This quarter we have accepted applications for our first and second rounds of funding. We received 19 TCAP sub-grant applications and provided conditional obligations to 7 developers for a total of 17.7 million dollars as part of our first round of funding.
Jobs Summary: No jobs created to date. (Total jobs reported: 0)
Project Status: Not Started
This award's data was last updated on Jun. 19, 2009. Help expand these official descriptions using the wiki below.