Low Income Housing Tax Credit Program
The federal Low Income Housing Tax Credit (LIHTC) provides subsidy in the form of a federal tax credit to developers of affordable rental housing. Developers using funding must reserve a portion of the rental units for lower income renters.
MaineHousing allocates the LIHTC to developers who sell (syndicate) the tax credit to corporate investors. The money this raises is used as equity in the rental housing project. The LIHTC can be linked with other financing through MaineHousing’s Rental Loan Program (RLP).
MaineHousing’s allocation of the LIHTC is a competitive process scored through the Qualified Allocation Plan (QAP).
The tax credits provide approximately $20 million annually in subsidy.
MaineHousing allocates the LIHTC to developers who sell (syndicate) the tax credit to corporate investors. The money this raises is used as equity in the rental housing project. The LIHTC can be linked with other financing through MaineHousing’s Rental Loan Program (RLP).
MaineHousing’s allocation of the LIHTC is a competitive process scored through the Qualified Allocation Plan (QAP).
The tax credits provide approximately $20 million annually in subsidy.
ELIGIBILITY
Developers of qualified low-income housing, as defined by the Internal Revenue Code (Section 42) may apply for LIHTC:
In allocating the tax credit, MaineHousing considers the following priorities:
In allocating the tax credit, MaineHousing considers the following priorities:
- Projects for larger families that offer the lowest total monthly housing costs and are rent-restricted to the lowest income households.
- Projects involving acquisition and/or rehabilitation that significantly rehabilitate existing rental housing stock and offer units that are rent-restricted to the lowest income households.
- Projects where the tax credit is needed for project feasibility.
- Projects that meet the housing and service needs of a distinct population of a community, including housing for persons who are homeless.
- Projects that provide housing for persons with very low income.
- Projects located in rural areas of the State.
MORE INFO
Contact Information
For more information please see the Documents & Links section or contact:
Multifamily Development Info
Documents & Links
- DRAFT - MaineHousing BABA Compliance and Implementation Plan 10.25.24
- Appendix A - General Waiver Form
- Appendix B - Public Interest Project-Specific Waiver Form
- Appendix C - Nonavailability Project-Specific Waiver Form
- Appendix D - Unreasonable Cost Project-Specific Waiver Form
- Appendix E - Broad Waiver Project-Specific Waiver Form
- Appendix F - HUD BABA Waiver Form
- Appendix G - DOE Project-Specific Waiver Form
- Appendix H - DOE BABA Waiver Form
- Appendix I - MaineHousing HUD BABA Checklist
- Appendix J - HUD Bidder Certification Form
- Appendix K - AIA G702 Certification Addendum
- Appendix L - HUD BABA Construction Materials Spreadsheet
- Appendix M - HUD BABA Self-Certification
- Appendix N - MaineHousing DOE BABA Checklist
- Appendix O - DOE Bidder Certification Form
- Appendix P - DOE BABA Construction Materials Spreadsheet
- Appendix Q - DOE BABA Self-Certification
- Appendix R - Manufacturer Certification Letter
- 2025 RLP Financing
- 2025-2026 Multifamily Financing Pre-Application
- 2024 4% LIHTC RFP
- 2024 RLP Financing
- 2023 4% LIHTC RFP
- 2023 4% LIHTC RFP - Appendix A
- Rental Loan Program Financing for 2023 State Ceiling LIHTC Projects and Tax-exempt Bond Projects with State Low Income Housing Tax Credits
- 2020 4% Walk-in Program
- 4% LIHTC Choice Walk-In Funding Program
- 4% PLA Walk-in Program
- 2023-2024 Multifamily Housing Pre-Application
- 2022 RLP Financing
- 2021 RLP Financing
- 2020 RLP Financing
- Rent & Income charts
- NCHAMA Model Content Standards-Rental Housing
- Construction Services
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