The Louisiana Housing Corporation, through the issuance of Multi-family Revenue Bonds, provides financing to developers to acquire, construct and/or rehabilitate affordable housing for low to moderate-income families and individuals.
Section 142 covers the conditions under which Multi-family Mortgage Revenue Bonds can be issued, Section 145 covers 501 (c)(3) Bonds and Section 146 covers Volume Cap.
Housing Projects that are financed (whether new construction or acquisition/rehab) in part by federal subsidies (i.e. volume cap bonds) are eligible for 4% tax credits only. There is no “limited pool” for the 4% tax credit as there is the 9% credit. To obtain the 4% tax credit, a partnership must apply for an allocation of private activity bonds, which if received, allows for a non-competitive application process for the 4% tax credit.