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How to Use Tax Credit Development Financing
- Consider your market. A market study helps you assess the market you are considering; will it work or not? Prepare according to the guidelines appropriate for development size: Market Study Guidelines
- Looking to finance an existing multifamily property? A capital needs assessment identifies and quantifies a building's current physical condition and future physical and financial needs. Find a provider and prepare according to the guidelines.
- Test your ideas by using Feasibility Worksheet.
Determine the best scenario.
- Talk to a Senior Underwriter (SU) regarding any pre-application issues.
- Complete the application in conjunction
with a Tax Credit Allocation application and send it to WHEDA, along
with the application fee. You may chose to complete the application
for financing after you know you have been allocated tax credits.
- Once tax credits are awarded, a SU will review the loan application
and will contact you.
- Always know that you may contact a SU
during the process if you have any questions.
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