BOISE - Idaho affordable housing developers have until February 15, 2000 to submit competitive applications for approximately $824,000 in Housing Tax Credits, the Idaho Housing and Finance Association announced today. IHFA administers this federal program on behalf of the state.

Eligible applicants for Housing Tax Credits include for-profit and nonprofit rental housing developers willing to designate a percentage of the development units for lower-income Idahoans. Rental housing owners receive Housing Tax Credits annually over a 10-year period.

The Housing Tax Credit program is a vital tool for the development of affordable housing. As a result of the 1999 resource allocation of Housing Tax Credits and HOME Program funds—which are distributed in a competitive process to local government, housing authorities and both nonprofit and for-profit developers—682 new rental units were built. Of those, 611 were set aside for limited-income families.

Developers of affordable housing interested in applying for Low-Income Housing Tax Credits may obtain a copy of the 2000 Allocation Plan and 2000 application form through IHFA’s Multifamily Finance Department, PO Box 7899, Boise, ID 83707-1899. Or by calling 208-331-4769, 1-800-219-2285 or TDD 1-800-545-1833 ext. 400. All applications must be received at IHFA’s Boise office no later than 5 p.m. February 15, 2000.