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| 4% Tax Credits With Tax-Exempt Bonds |
APPLICATION PROCEDURES
The first step for a developer wanting to use non-competitive 4% tax credits and tax-exempt bonds is to talk to staff about the IFA Multifamily Loan Program. If the project meets the requirements of the Multifamily Loan Program, an Application for 4% tax credits is completed. The Application requirements are detailed in the Qualified Allocation Plan.
For year-specific forms and information, click on the applicable "Allocation Year" below.
RESERVATION PROCEDURES
An administrative review is conducted on each Application. The Application must pass threshold requirements for the LIHTC Program. A non-refundable reservation fee is assessed at 1% of the total 10-year tax credit amount.
DETERMINATION OF CREDIT AMOUNT
The amount of credit is limited to no more than the amount necessary for the financial feasibility of the project. The credit is determined by taking a percentage of the "qualified" costs of the development.
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| © Copyright 1997-2008 Iowa Finance Authority | All Rights Reserved |
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