Private Activity Bond Allocation

Case Study

Rental housing provided through HUD and USDA contracts is a vital resource for some of the state’s most vulnerable households. The tax-exempt bond program with 4% floating credits helps provide this housing. Hillcrest Manor Apartments in Leavenworth is a recent preservation development that rehabilitated 95 senior housing units. The project preserved 89 one-bedroom and five two-bedroom apartments. This redevelopment provides well-maintained, affordable  homes for community members with limited housing opportunities.

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Hillcrest Manor Apartments, Leavenworth Kansas

Program Description

Private Activity Bonds provide low interest, long-term financing options for developers and businesses. This tax-exempt bond program provides 4% floating tax credits, which provide a source of equity to the developer, allowing them to offer lower rental rates to serve low-income households.

Audience Served

For-profit and nonprofit developers can apply.

Funding Source

Federal funding allocated through the state’s Private Activity Bond Authority

Staff Contact

Alissa Ice
AIce@kshousingcorp.org
Director of Housing Development
785-217-2036

How To Apply

The Private Activity Bond Allocation Program has an open funding cycle beginning January 1 of each year. To apply:

  • Submit the PAB tax credit application to KHRC.
  • Secure and submit necessary inducements or resolutions from the Kansas Development Finance Authority or, in some cases, local municipal authority. 
  • Secure and submit allocation from Kansas Department of Commerce.
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Income Guidelines

Household Size Maximum Income for Weatherization (200% of FPL)
1  $  25,520
2  $  34,480
3  $  43,440
4  $  52,400
5  $  61,360
6  $  70,320
7  $  79,280
8  $  88,240
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