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HUD Expands Multifamily LIHTC Pilot to Five New Hubs

HUD announced it was expanding its Multifamily LIHTC Pilot Program to five new Hubs: Atlanta, Denver, Fort Worth, San Francisco, and Seattle.

The geographic reach of the program has also been expanded to include projects across the entire country. Projects that are not in the jurisdiction of one of the processing Hubs will be assigned to one for underwriting. Firm commitment approvals will remain with the Hub Director in whose jurisdiction the project is located.

The pilot program is designed to streamline FHA mortgage insurance applications for projects processed under Section 223(f) and financed with LIHTCs. The current participating Hubs are Boston, Chicago, Detroit, and Los Angeles.

A copy of the expansion letter may be found here: http://portal.hud.gov/hudportal/documents/huddoc?id=pilotexpansionletter.pdf

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