The MTSP limits are for use by Low Income Housing Tax Credit (LIHTC) and multifamily bond projects ONLY. Novogradac & Company, LLP has taken a leading role in sorting through the income limit issues, as a courtesy to the LIHTC industry, Novogradac & Company LLP has made available, free of charge and subject to the disclaimers shown on the firm’s website, the Rent and Income Limit Calculator.
Prior to launching the Rent and Income Limit Calculator you will need to be prepared to answer the following questions:
Projects constructed and/or rehabilitated using other funding sources should also consult with the various program income/rent guidelines. For example, if a project has been constructed utilizing both LIHTC and HOME funds, both program limits should be analyzed and the most restrictive limits would apply. Kentucky Housing Corporation also has available on the Web site a link to the 2010 HOME Income and Rent Limits, and SMAL Rent Limits.
* Special Note: Projects utilizing KHC Risk Sharing loan funds should follow the MTSP limits; however, HOME unit income/rent limits should follow the most restrictive of the charts.
KHC Disclaimer: Novogradac & Company LLP is a national certified public accounting and consulting firm with 12 offices nationwide. One of the firm’s major emphases is in tax-credit assisted development and renewal, including the Low-Income Housing Tax Credit (LIHTC). For more information about Novogradac & Company LLP, go to http://www.novoco.com/company/index.php.
For more information, contact:
Kentucky Housing Corporation | 1231 Louisville Rd., Frankfort,
KY 40601 502-564-7630; 800-633-8896 (KY only); TTY 711