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WHEDA /  Developers and Property Managers /  Tax Credits /  Housing Tax Credits /  Getting Started

 

Housing Tax Credit Program - Getting Started

  1. Click here to read a basic introduction to the Housing Tax Credit (HTC) Program. 
  2. HTC applications are both complex and costly. Before beginning an application, contact a member of WHEDA's Commercial Lending team to discuss your development plan.
  3. Review documentation for the current credit year on this web site.
    1. WHEDA's current Qualified Allocation Plan (QAP), which establishes criteria for the allocation of both competitive and noncompetitive tax credit for the State of Wisconsin. The Plan specifies application threshold requirements and timeframes for the acceptance of competitive and noncompetitive applications.
    2. Credit is awarded based on a point scoring system. The current HTC Application and Self-Scoring Exhibit further specify requirements for obtaining an allocation of credit. Access to the HTC Application and Self-Scoring Exhibit is within LOLA, the LIHTC OnLine Application, a secure, web-based application. Applications for HTC must be submitted through LOLA. Organizations must request and have an account established by WHEDA prior to gaining access to LOLA.  
    3. Review all other available online HTC application documentation for the current credit year. 
  4. Considerations:
    1. How viable is the proposed market? A market study helps you assess the market and is a requirement for all HTC applications.  
    2. Interested in utilizing HTC for an existing multifamily property? A capital needs assessment identifies and quantifies the building's current physical condition and future physical and financial needs and is a requirement for all HTC applications.  
    3. Both market studies and capital needs assessments must be prepared according to standards established by WHEDA.
  5. Additionally, if you have not previously developed a tax credit project, WHEDA strongly suggests consulting a tax professional regarding the rules and regulations of the HTC program.

 

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