Public Hearings on 2001 Statewide Affordable Housing Plans Wednesday (Oct. 11) in Boise

BOISE - The affordable housing community and all developers interested in building multifamily housing are encouraged to attend public hearings on proposed amendments to two of Idaho’s affordable housing plans, the Idaho Housing and Finance Association announced today. The amendments are proposed for the State of Idaho’s 2001 Low-Income Housing Tax Credit Allocation Plan and the HOME Administrative Plan.

When: Wednesday, October 11, 2000
9 a.m. – Low-Income Housing Tax Credit Allocation Plan Hearing
1 p.m. – HOME Administrative Plan hearing

Where: Idaho Housing and Finance Association (Boise office)
565 W. Myrtle St.
First floor conference room

The Low-Income Housing Tax Credit Allocation Plan governs Idaho’s competitive Housing Tax Credit allocation process and is updated each year. Public input assists IHFA—the state’s administrator of Housing Tax Credits—in assessing the plan’s effectiveness in meeting housing needs. It also helps maintain a community focus on affordable housing issues throughout the state. The plans and comments will be forwarded to Governor Dirk Kempthorne as part of the approval process.

Idaho’s Housing Tax Credit program helps defray construction and rehabilitation costs on apartments, placing rents within reach of lower-income families. The Housing Tax Credit is a U.S. Treasury Department program that provides a dollar-for-dollar federal tax liability reduction to owners of Housing Tax Credit developments. As a result of the 2000 resource allocation of Housing Tax Credits, 301 new rental units are proposed to be developed over the next 12 to 18 months. Of those, 231 will be set aside for limited-income families.

The purpose of the State of Idaho HOME Program, as designed by IHFA, is to increase the availability of safe, decent and sanitary housing for low and very low income families. HOME funds will be used to provide flexible loans for upgrading substandard existing housing units, to construct rental housing to be made available to families at affordable monthly rates, and to provide home purchase assistance. IHFA is designated by the governor to allocate the State of Idaho HOME Program which is intended to comply with the requirements of 24 CFR Part 92.

The public is invited to attend and make written or oral comments concerning proposed changes to both plans. Copies of the amended Low-Income Housing Tax Credit Allocation Plan are available by calling 208-331-4769. Those unable to attend may submit comments by Oct. 11 to: IHFA Multifamily Finance Department, PO Box 7899, Boise, ID 83707-1899.

A copy of proposed changes to the HOME Administrative Plan available upon request by contacting the IHFA Grant Programs Department at 1-877-4GRANTS(447-2687) or TDD (800) 545-1833 extension 400. Those unable to attend may submit comments by Oct. 11 to: IHFA Grant Programs Department, PO Box 7899, Boise, ID 83707-1899.