Low Income Housing Tax Credits & Cost Containment in Illinois, 2018-2019

The Illinois Housing Development Authority (IHDA) 2018-2019 Qualified Allocation Plan (QAP) establishes cost limits and award points for keeping costs low.

The maximum amount of Tax Credits for which a Project may apply is the lesser of the following:

  • a total Allocation of 1,500,000; or
  • 28,500 Tax Credits per unit; or
  • the Tax Credit amount supported by the Project’s eligible basis net of a Boost; or
  • the Tax Credit amount supported through the equity gap method

A Project can earn four (4) points for achieving the lowest hard construction costs and total development cost in the Project’s Set-Aside as defined in Section V) of the QAP. Points will be awarded to one new construction and one rehabilitation project per set aside. Only Projects with costs below the grand total hard cost limits as set forth in the Mandatory Section P) are eligible for consideration under the Cost Containment category.

Contributed By: 
National Housing Trust

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