• First-round deadline approaching late March 2026
• Emphasis on workforce housing targeting 60-80% AMI households
• Scoring preferences for Qualified Census Tracts and high-opportunity areas
• State Development Fund provides gap financing layering with federal credits
• 4% pipeline active with new 25% bond threshold implementation
• Updated guidance for bond-financed developments
• Pre-application workshops scheduled for March in Indianapolis

First-time LIHTC developers should consider partnering with experienced firms to strengthen applications in this competitive market.

Subscribe to The Spring Street Brief for daily updates on state QAP deadlines, LIHTC application requirements, and affordable housing development opportunities.

Keywords: Indiana Housing and Community Development Authority, IHCDA, LIHTC application, Rental Housing Tax Credit, 9% LIHTC, 4% LIHTC, Indiana affordable housing, QAP, Qualified Allocation Plan, Development Fund, workforce housing, 60% AMI, 80% AMI, Qualified Census Tract, QCT, high-opportunity area, private activity bonds, 25% bond threshold, tax-exempt bonds, gap financing, Indiana housing developer

• Addresses critical gap between site acquisition and construction closing
• Pre-development costs can exceed $500,000 for competitive 9% deals
• Covers architectural, engineering, environmental, market studies, and legal costs
• Flexible terms with conversion options to permanent financing
• Helps smaller developers and CDFIs compete with larger firms
• Joins ecosystem including Enterprise Community Loan Fund and LISC
• Currently accepting applications in Rose Community Capital service area

Developers should explore pre-development financing options as part of their capital stack planning for upcoming LIHTC applications.

Subscribe to The Spring Street Brief for daily updates on LIHTC financing resources, CDFI lending programs, and affordable housing development tools.

Keywords: Rose Community Capital, pre-development loan, LIHTC financing, affordable housing development, predevelopment costs, CDFI lending, community development financial institution, Enterprise Community Loan Fund, LISC, 9% LIHTC, capital stack, affordable housing financing, development financing, bridge loan, construction financing, market study, environmental assessment, LIHTC application, emerging developer, affordable housing developer

• Thousands of new affordable rental units across North Carolina
• Reflects expanded 9% allocation under One Big Beautiful Bill Act
• New construction family housing in Charlotte and Raleigh metros
• Senior housing developments in mid-sized communities
• Rehabilitation of existing affordable stock in rural counties
• 2026 QAP emphasizes 30% AMI households and high-opportunity areas
• Next 9% application round opens summer 2026

Developers should begin site identification and local government engagement now to position competitive applications.

Subscribe to The Spring Street Brief for daily updates on state HFA allocations, LIHTC awards, and affordable housing development opportunities.

Keywords: North Carolina Housing Finance Agency, NCHFA, LIHTC awards, 9% LIHTC, Low-Income Housing Tax Credit, affordable housing development, North Carolina affordable housing, Charlotte housing, Raleigh housing, One Big Beautiful Bill Act, state housing finance agency, QAP, Qualified Allocation Plan, senior housing, family housing, rural housing, 30% AMI, high-opportunity areas, tax credit allocation, multifamily development, affordable rental housing

• 50% increase in annual 9% LIHTC allocation ceiling
• Minimum 4% credit rate floor to stabilize deal economics
• Rural housing set-asides for underserved areas
• Preservation provisions for aging LIHTC properties
• Could support 200,000 additional affordable units over 10 years
• Led by Senators Maria Cantwell and Todd Young
• Advocates pushing for floor vote before August recess

Developers should track this legislation closely as expanded credits would reshape pro formas and accelerate pipeline activity.

Subscribe to The Spring Street Brief for daily updates on LIHTC legislation and affordable housing policy affecting investors, developers, and syndicators.

Keywords: Affordable Housing Credit Improvement Act, AHCIA, LIHTC expansion, 9% LIHTC, 4% LIHTC, Low-Income Housing Tax Credit, tax credit legislation, affordable housing legislation, Senator Maria Cantwell, Senator Todd Young, bipartisan housing bill, credit allocation ceiling, rural housing, LIHTC preservation, affordable housing development, tax credit investor, LIHTC syndicator, housing policy 2026, LIHTC reform, affordable housing production

• Proposed rule published February 19, 2026
• Could affect approximately 100,000 individuals, many U.S. citizen children
• Families would face choosing between staying together or losing benefits
• Creates operational complexity for LIHTC properties with Project-Based Vouchers
• Comment period closes March 21, 2026
• Legal challenges expected to delay implementation

Property owners and housing authorities should review tenant demographics to assess exposure to this proposed rule change.

Subscribe to The Spring Street Brief for daily updates on affordable housing policy, LIHTC developments, and HUD regulatory changes affecting multifamily property owners and developers.

Keywords: HUD proposed rule, mixed-status families, federal housing assistance, immigration status, Housing Choice Voucher, Section 8, LIHTC, Low-Income Housing Tax Credit, Project-Based Vouchers, affordable housing policy, HUD regulations, multifamily housing, rental assistance, public housing, housing authority compliance, tenant eligibility, fair housing, housing policy 2026, HUD rulemaking, affordable housing compliance, property management

The Texas Department of Housing and Community Affairs 9% LIHTC application deadline is February 27, 2026 — less than two weeks away.

Texas Market Overview:

• One of largest LIHTC allocations in the nation
• 2026 QAP reflects 12% permanent credit increase under OBBBA
• Remains one of most competitive LIHTC markets

Application Requirements:

• Specific scoring criteria for location, tenant populations, experience
• Local support resolutions required
• Market studies and environmental assessments must be complete
• Regional allocation formula ensures geographic diversity

Alternative Paths:

• Texas implementing 25% bond threshold for 4% deals
• Bond-financed projects don't compete for limited 9% ceiling
• Consider 4% if 9% scoring is borderline

TAAHP Priorities:

• Expanding tax-exempt bonds and credits
• 89th Texas legislative session advocacy

Subscribe to The Spring Street Brief for daily updates on LIHTC applications, Texas TDHCA, QAP deadlines, 4% and 9% credits, and state HFA activity.

The Illinois General Assembly has introduced House Bill 4413 to renew the Illinois Affordable Housing Tax Credit — a state-level credit that layers with federal LIHTC.

State Credit Importance:

• Fills financing gaps as development costs rise
• Makes marginal projects feasible
• Attracts investors layering state and federal credits
• Most states now have state housing credit programs

Illinois Program:

• Supported thousands of affordable units since inception
• Renewal would extend and potentially expand capacity
• Details on allocation amounts being finalized

Developer Action Items:

• Illinois 9% LIHTC deadline: February 25, 2026
• Track HB 4413 progress for financial projections
• Consider state credit in investor conversations

National Trend:

• Michigan advocates proposing $42M annual state credit
• More states complementing federal credits

Subscribe to The Spring Street Brief for daily coverage of state housing tax credits, LIHTC, QAP deadlines, and affordable housing legislation.

CHAPA has released its first comprehensive report on Housing Choice Voucher utilization in Massachusetts, titled "Shaping Action: Findings on Use of Housing Choice Vouchers."

Key Findings:

• Voucher success rates vary significantly across housing authorities
• Tight rental markets challenge voucher holders finding units
• Payment standards competitive but landlord participation limited

LIHTC Integration:

• Many LIHTC developments accept voucher holders
• Provides pipeline of income-qualified tenants
• Reliable rent payments backed by housing authorities
• Reduces lease-up risk for LIHTC owners

Landlord Barriers:

• Inspection requirements cited as obstacle
• Payment processing delays
• Housing for the 21st Century Act may address inspection concerns

Subscribe to The Spring Street Brief for daily updates on Housing Choice Vouchers, Section 8, LIHTC compliance, and voucher utilization research.

The lowered private activity bond threshold took effect January 1st, and state HFAs are now rolling out implementation policies that vary significantly by state.

Threshold Change:

• Minimum bond financing dropped from 50% to 25% of aggregate basis
• Less tax-exempt debt required per project
• Frees up bond volume cap for additional deals

State Implementation:

• California CDLAC: Emergency rulemaking initiated
• Housing New Mexico: Updated 4% LIHTC plan
• Colorado: Phased approach with 45% upper limit for 2026

Developer Impact:

• Acquisition-rehab deals: $5M bond requirement now $2.5M on $10M project
• Lower debt service and transaction costs
• Improved project economics
• Work with bond counsel on state-specific requirements

Subscribe to The Spring Street Brief for daily coverage of private activity bonds, 4% LIHTC, bond volume cap, and state HFA policy updates.

The FY2026 Transportation, Housing, and Urban Development appropriations bill provides $77.3 billion for HUD programs — a $7.2 billion increase and one of the largest in recent memory.

Key Allocations:

• Public housing operating funds: $5.02 billion
• Public housing capital funds: $3.2 billion
• Continuum of Care (homeless services): $4.01 billion
• Housing Choice Vouchers: Full renewal funding plus incremental vouchers
• Project-Based Rental Assistance: Contract renewals and inflation adjustments

Stakeholder Impact:

• 2.4 million voucher households protected from terminations
• Housing authorities can plan with funding security
• Property owners assured continued HAP payments
• Developers confident in lease-up assistance availability

Subscribe to The Spring Street Brief for daily updates on HUD appropriations, Section 8, public housing, homeless assistance, and PBRA contracts.