Tax Credit Assistance Program (TCAP)
The Tax Credit Assistance Program provides funding for rental housing developments
that have an award of federal Low Income Housing Tax Credits. The funding will help
provide affordable housing opportunities for income-qualified families, persons
with disabilities and senior citizens through the financing of the construction,
acquisition, and rehabilitation of multi-family rental housing.
Maryland will receive $31.7 million that DHCD will distribute in accordance with
HUD requirements for a competitive process. To learn more about:
TCAP funding is available only to State Housing Credit Agencies that administer
the Low-Income Housing Tax Credit (LIHTC) program. DHCD will provide TCAP funding
to multifamily rental projects in accordance with federal requirements. Eligible
projects must have received an award of LIHTC from DHCD on or before September 30,
2009 and not yet closed on their financing and started construction. TCAP funds
will be awarded competitively and allocated in accordance with HUD guidelines and
Maryland's Qualified Allocation Plan. TCAP funds are subject to recapture for failure
to comply with all HUD and IRS requirements.