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QCTSites Blog

SUBJECTIVITY WITH STATE QAP’S
9/24/2008 -- By kbach
With the recent housing bill (HR-3221) allowing the state Housing Finance Agencies (HFA) the ability to offer the 30% eligible basis boost to certain buildings at their discretion it seems as if there is too much subjectivity involved. For example, North Carolina’s 2009 Draft QAP states, "Establish standards for determining the Agency-designated increase in eligible basis. The Housing and Economic Recovery act (HR 3221) allows the Agency to designate projects as receiving an increase in eligible basis of up to 30%. Under the draft QAP, proposed projects with high land costs, extensive site preparation, or off-site costs would be considered for the boost". How do they expect developers to underwrite their deal with the possibility of achieving the boost? How is one to obtain a commitment letter on that assumption? Thoughts?
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How much developer fee did you defer on your last LIHTC transaction?

Apply a thirty percent (30%) eligible basis boost by virtue of a Qualified Census Tract (QCT) or a Difficult to Develop Area (DDA).

Are you an LIHTC developer? QCTSites increases your bottom line by replenishing your most precious resources - your time and money.

Site selection is imperative to the viability of any LIHTC development. Several hours of research are spent internally investigating each Qualified Allocation Plan (QAP) relative to scoring, past allocations, market feasibility, etc. in identifying successful locations.

QCTSites.com is a database consisting of only QCT/DDA LIHTC real estate listings including:

  • Vacant land for new construction
  • Historic structures or similar, appropriate for residential development
  • Existing apartment communities (including 10-year rule)
  • New Market Tax Credit development opportunities

Each listing in our database includes the pertinent information required to quantify a financially and developmentally feasible transaction.

This information includes:

  • Market Survey
  • Site plan or survey/plat
  • Selection criteria self score
  • Utility allowances
  • Demographic information
  • Applicable mapping services including nearby amenities
  • Municipal contact information
  • Zoning information
  • Applicable site development fees (i.e. building permit fees, water/sewer tap fees, etc.)
  • Financial incentives available (i.e. tax abatement, enterprise zone, etc.)
  • Site characteristics
Featured QCT/DDA/LIHTC Listings
Potential 4%/221 (d) (4)/Military site zoned for 337 units
Vacant Land, QCT
Columbia, South Carolina
Up to 21.07 Acres
General Commercial (C-3) allows for 16 units per acre
Des Moines Metro Adjacent to New Middle School
Vacant Land, QCT
Carlisle, Iowa
8.78 Acres
R-3, which allows for 16 units per acre
Infill Development Opportunity in TIF with tax abatement available
Vacant Land, QCT
Quincy, Illinois
2.55 Acres
D3, Downtown riverfront district: No density restrictions, however parking is 2 per unit and height is 5 stories.

Click here to start browsing LIHTC listings!
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Live QCT/DDA/LIHTC Statistics

134 Total Available Listings

24 Available
Historic Buildings
18 Available
DDA
103 Available
Vacant Land
9 Available
Non-QCT/DDA
7 Available
Apartments
107 Available
QCT

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