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

KHRC will accept applications for 4% LIHTCs and Private Activity Bonds three times per year.

  • January 6, 2023 – 4% LIHTC Preliminary and Full Application Due Date
  • March 17, 2023 – 4% LIHTC Application Approval Announcement
  • April 14, 2023 – 4% LIHTC Preliminary and Full Application Due Date
  • June 23, 2023 – 4% LIHTC Application Approval Announcement
  • July 14, 2023 – 4% LIHTC Preliminary and Full Application Due Date
  • September 22, 2023 – 4% LIHTC Application Approval Announcement
Applicants must request a Procorem Workcenter log-in prior to applying by emailing housingdevelopment@kshousingcorp.org. With the exception of the application fee, all application items will be submitted through the Procorem system.
 
Applications requesting HOME and/or NHTF must meet the 9% LIHTC deadlines. Applicants seeking to submit applications with both 9% and 4% LIHTC will submit with the 9% competitive round.
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Income Guidelines

Household Size Maximum Income for Weatherization (200% of FPL)
1  $   25,760
2  $  34,840
3  $  43,920
4  $   53,000
5  $  62,080
6  $  71,160
7  $  80,240
8  $  89,320

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