Kansas Housing Development limits 4% credit applications to $6M per applicant

In a recent public hearing held by the Kansas Housing Resources Corporation, key discussions centered around the Amended 2025 Qualified Allocation Plan (QAP), particularly focusing on the allocation of Low-Income Housing Tax Credits (LIHTC). As the meeting unfolded, participants engaged in a lively exchange about the financial limits set for the upcoming year.

The most significant point of contention was the cap on 4% applications, which is set at $8 million per round, with a total potential award of $16 million divided between two rounds. This means that applicants can vie for up to $8 million in each round, a structure designed to streamline funding and ensure equitable distribution among projects. However, confusion arose regarding the $6 million figure mentioned by some participants, prompting clarifications from officials. They emphasized that the $6 million cap does not apply to individual applications but rather pertains to the overall allocation strategy.

Another critical aspect discussed was the relationship between state and federal credits. Officials confirmed that the Kansas credits would remain coupled with federal credits, maintaining a dollar-for-dollar match. This decision aims to provide stability and predictability for developers seeking to finance affordable housing projects.

As the meeting progressed, attendees were encouraged to submit their comments and questions, with assurances that all inquiries would be addressed in writing. This open dialogue reflects the commitment of the Kansas Housing Resources Corporation to transparency and community engagement in the housing development process.

The implications of these discussions are significant, as they set the stage for how affordable housing projects will be funded in Kansas over the coming year. With a clear framework established, stakeholders can now better navigate the complexities of funding applications, ultimately aiming to enhance the availability of affordable housing across the state.