Tax Credit Extended Use Period

Rates

Preservation Plus:
7.650%
Tax-Exempt Financing:
7.900%
Taxable Bond Rate:
7.800%
Construction Plus:
6.360%
Tax Credit Financing:*
6.750%
*30 year term/15 year yield maint/30 year amort.

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What's New in Tax Credit Extended use Period

Low-Income Housing Tax Credit Extended Use Period procedures and forms are now available.

Tax Credit Extended Use Period provides WHEDA's procedures and forms for tax credit properties completing the initial 15-year compliance period in accordance with section 42 regulations.

Features & Benefits

The Omnibus Reconciliation Act of 1989 provided an option for owners to exit the Housing Credit at the end of the initial 15-year compliance period.

Applies only to those properties that are eligible for opt-out at some time prior to the 29th year of usage.
If eligible, owners may request that WHEDA find a buyer for the low-income portion of a property.
WHEDA has one year to find a buyer at a pre-determined price, not to exceed the Qualified Contract Price (QCP.

How to Use the Tax Credit Opt-Out Provision

How to Use the Tax Credit Opt-Out Provision tells how to get started working with WHEDA.

Data Library

The Multifamily Data Library includes links to reports, such as occupancy rates, operating expenses, tax-credit projects, federally-assisted rental housing, fair market rents, and the results to the Residential Care Apartment Complex.

Guidelines

Compliance Policy for Extended Use Period .pdf (34 KB): Provides information on reporting requirements and compliance monitoring for tax credit properties that are not eligible under the opt-out provision or who may opt-out but choose to remain in the program.
Compliance Policy for Opt-Out Provision .pdf (31 KB): Provides information on exercising the Opt-Out Provision and the calculation of the Qualified Contract Price.

For information on downloading files, see About File Formats.

Forms

Forms are available in either a .pdf or an .exe format.

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