Low Income Housing Tax Credits & Opportunity Housing in Kentucky, 2019-2020

The Kentucky 2019-2020 Qualified Alloation Plan (QAP) incentivizes building in areas of opportunity through points, and an increase in housing credit limit. 

Poverty Rate Below State Average (URBAN ONLY). Projects located in census tracts with poverty rates below the state poverty rate will be awarded 0.20 point for every 1% lower the census tract rate is than the state for a maximum of 3.7 points, as calculated below. KHC has compiled a table of all Kentucky census tracts with a poverty rate < 20% on Tab 7 of this scoring workbook, along with a web link to the U.S. Census data source.

Access to Strong Schools (New Supply Family projects only)L Projects in areas with strong schools, as rated by 2016-2017 Department of Education ratings, will be awarded points for one school with a minimum combined reading and math proficiency score of 61.5 or higher. Up to seven points will be awarded for the school to which school-age residents of the property would be assigned. See Tab 9 for schools and their scores. Note: Market study must show which schools are assigned to the project. Applicant must identify applicable page(s) in the market study. Maximum of 7 points.

Greatest Job Growth. Projects located in a county where job creation is anticipated, as defined below, will receive 3 points in a Existing Supply/Rehabilitation project, and 10 points for New Supply projects. 

Poverty Rate Below State Average (New Supply/URBAN ONLY). Projects located in census tracts with poverty rates below the state poverty rate will be awarded 0.20 point for every 1% lower the census tract rate is than the state for a maximum of 3.7 points, as calculated below. KHC has compiled a table of all Kentucky census tracts with a poverty rate < 20% on Tab 7 of this scoring workbook, along with a web link to the U.S. Census data source.

(Allen, Anderson, Barren, Bath, Boone, Bullitt, Carroll, Campbell, Christian, Daviess, Fayette, Franklin, Grant, Henderson, Hopkins, Jefferson, Kenton, Laurel, Logan, Madison, Marion, McCracken, Nelson, Scott, Shelby, Simpson, Todd, Trigg, Warren, Washington, and Woodford counties.)

 

The Housing Credit allocation for projects located in urban areas will be limited to $12,000 per Housing Credit unit except for projects located in QCTs or DDAs, as designated by the secretary of the U.S. Department of Housing and Urban Development; Choice Neighborhoods; historic/adaptive reuse projects; new construction projects located in areas of opportunity; or projects located in areas defined by KHC as needing an increase in basis, which will be limited to $15,600 per Housing Credit unit.

Contributed By: 
National Housing Trust

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