BOISE - Approximately $1.2 million in Housing Tax Credits, $3 million in HOME Program funds and $250,000 in Community Housing Development Organization (CHDO) operating assistance are available for affordable housing development, the Idaho Housing and Finance Association announced today. IHFA, who administers these federal programs on behalf of the state, is accepting competitive Housing Tax Credit and HOME applications until Feb. 15 (Thursday); the deadline for CHDO applications is Mar. 2 (Friday).

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.

HOME funds are distributed in a competitive process to local government, housing authorities and both nonprofit and for-profit developers. To receive HOME funds, developers must secure non-federal, permanent matching funds that can include cash or land donations, in-kind services or tax waivers. In addition to constructing or rehabilitating multifamily housing, HOME funds can also be used to provide home owner assistance or to provide housing opportunities for limited-income persons with special needs.

All currently certified CHDOs and newly-formed CHDOS that meet the criteria established by the HOME Department may apply for CHDO Operating Assistance.

Developers interested in applying for Housing Tax Credits may obtain a copy of the 2001 Allocation Plan and 2001 application form through IHFA’s Multifamily Finance Department, PO

Box 7899, Boise, ID 83707-1899. Or call 208-331-4769 or 1-800-219-2285. Both documents are available here. Housing Tax Credit applications must be received at IHFA’s Boise office no later than 5 p.m., February 15, 2001.

HOME Program funds may be used for any of the eligible activities described in the Idaho HOME Program Administrative Plan. To obtain a copy of the plan, click here, call 1-877-4GRANTS or fax (208) 331-4808. Applications for HOME Program funds must be received no later than Thursday, February 15, 2001, at 5 p.m.

Applications for CHDO Operating Assistance must be mailed to IHFA’s HOME Department at PO Box 7899, Boise, ID 83707-1899 no later than Friday, March 2, 2001, at 5 p.m.

The Idaho Housing and Finance Association, a financial services and housing organization, provides funding for affordable housing in Idaho communities where they are most needed and when it is economically feasible. IHFA uses no state funds or state employees to support its operations. For more information, visit our Web site at www.ihfa.org.