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9 Percent LIHTC Gap Financing Program
9% Low Income Housing Tax Credit Gap Financing Program
The 9% Low-Income Housing Tax Credit (LIHTC) Gap Financing Program is designed to provide gap funding for 9% LIHTC developments that have already been awarded a Reservation of 9% LIHTC, but have funding gaps and are in need to gap funding. The Program Guidelines below provide more detail regarding the requirements and the process to apply for these resources. Applicants will be required to upload a complete application and required exhibits (as detailed in the Program Guidelines below) through Sharepoint. Applicants will set up a Sharepoint folder using the link below titled “How to Create a Sharepoint Folder” below. Once all required documents are uploaded and complete, the Applicant must complete the form below titled, “Gap Funding Application Certification”. Applicants can contact Carol Thompson in the Low Income Housing Tax Credit program with any questions regarding program requirements and/or application submission.
Update 04/25/2023: Please be advised that MSHDA has released an Amendment to the 9% LIHTC Gap Financing Program. The Amendment allows developments that have not closed on their financing to request more than $20,000 per affordable unit, if it is needed for financial feasibility. However, higher deferred developer fee and/or owner contributions are also required when requesting more than $20,000 per affordable unit. Please see the Amended Program Guidelines for technical details regarding this Amendment. This option will be available for all eligible applicants including those that may have already applied under this program. Applicants that have already applied will be required to update their Gap Funding application documentation to reflect an amended Gap Funding request by May 8th, 2023 and should submit their updated application materials via e-mail to Elizabeth Rademacher (you will not be required to create a separate Sharepoint folder to update the application materials). All new applicants will continue to use the Sharepoint link below.
- 9% LIHTC Gap Financing Program Memo 05/24/2023 - Cancellation of June and July Rounds
- AMENDED Program Guidelines - 9% LIHTC Gap Financing (PDF)
- LIHTC Program Application
- Gap Funding Calculation Worksheet (Excel) Updated 04/28/2023
- Trade Payment Breakdown form (Excel)
- Certification to Application (PDF)
- How to create a Sharepoint folder
- Gap Funding Application Certification