Idaho Housing’s multifamily finance department has the lending expertise to offer affordable housing developers a full array of financing alternatives. From Low-Income Housing Tax Credits, which offer incentive to developers to build affordable rental housing, to a combination construction/permanent loan, a separate permanent loan through a consortium of banks, or subordinate financing, Idaho Housing’s staff has the expertise to finance affordable multifamily developments throughout Idaho.
Low Income Housing Tax Credits (LIHTC)
As Idaho’s designated Housing Tax Credit administrator, Idaho Housing receives an annual Housing Tax Credit authority on behalf of the state. This annual credit authority is allocated through a competitive application process according to the Qualified Allocation Plan. Recipients of Housing Tax Credit allocations may claim the annual credit each year for 10 years.
A development’s annual Housing Tax Credit eligibility is based upon depreciable real property costs applicable to the units designated for low-income tenants. The amount of credit allocated to a development is based upon either the lesser of credit eligibility, the amount necessary to fill the funding gap or the amount necessary to generate a reasonable return to the investor.
Notice of Funding Availability
LIHTC Qualified Allocation Plan
- 2023 FINAL QAP (Governor Approval) 4-4-2023
- 2023 DRAFT QAP (Final Pre-hearing)
- 2023 QAP Hearing Minutes and Written Comments
- 2023 Combined Annual LIHTC Application Information
- 2022 FINAL QAP (Governor Approval) 03-31-2022
- 2021 FINAL QAP (Governor Approval) 3-26-2021
- 2020 FINAL QAP (Governor Approval) 4-20-2020
- Tax-Exempt Multifamily Housing Bond Administrative Plan
LIHTC Allocation List
- 2023 LIHTC Allocation List
- 2022 LIHTC Allocation List
- 2021 LIHTC Allocation List
- 2020 LIHTC Allocation List
- 2019 LIHTC Allocation List
- 2018 LIHTC Allocation List
LIHTC Applications Received
- 2024 LIHTC Applications Received
- 2023 LIHTC Applications Received
- 2022 LIHTC Applications Received
- 2021 Applications Received
- 2021 4% LIHTC Applications Received (June 1, 2021)
LIHTC/HOME/HTF Application
- 2023 Goods and Services Form
- 2023 LIHTC-HOME-HTF Application
- 2023 LIHTC Selection Criteria Preference Points (LIHTC Only)
- 2023 Preliminary Architect Certification for Green Building Threshold
- 2023 Performance Selection Criteria Points Form
- 2023 Certification for Permanent Supportive Housing
- 2023 Certification for Waitlist Preferences Points
- 2023 Preliminary Architect Certification for Amenities
- 2023 Sponsor Certification
- 2023 Previous Participation Certificate – Property Management Company
- 2023 Previous Participation Certificate – Developer
- 2023 Previous Participation Certificate – Sponsor _ Owner
- 2023 Rehabilitation – Preliminary Architect Certification
- IHFA LIHTC Reservation-Conditional Commitment Instructions and Checklist
- IHFA LIHTC Fees
- HOME & HTF Application Requirements
LIHTC Certifications and Forms
- As Built Architect Certification
- As Built Architect Certification for Amenities
- As Built Architect Certification for Green Building Threshold
- Certification for Permanent Supportive Housing Points
- Certification for Waitlist Preferences Points
- Preliminary Architect Certification
- Preliminary Architect Certification for Amenities
- Preliminary Architect Certification for Green Building Threshold
Idaho Workforce Housing Fund (IWHF)
Idaho Workforce Housing Fund Notices
- RFP Notice – 2023 Single-Family Workforce Housing
- Single Family Workforce Housing Checklist
- Single Family Workforce Housing Guidance
Idaho Workforce Housing Allocation Plan
- 2023 WHAP Exhibit A 12-30 Amendment
- Allocation Plan for Idaho Workforce Housing Fund
- Draft Allocation Plan for the Idaho Workforce Housing Fund
- Summary of Public Forum – Workforce Housing Allocation Plan
Idaho Workforce Housing Fund Application and Forms
- Idaho Workforce Housing Fund Application Instructions and Checklist
- Idaho Workforce Housing Fund Previous Participation Certificate-Sponsor/Owner
- 2023 LIHTC/HOME/HTF/WFHF Combined Application
- Idaho Workforce Housing Fund Selection Criteria Preference Points
- Idaho Workforce Housing Fund Previous Participation Certificate – Developer
- Idaho Workforce Housing Fund Previous Participation Certificate Property Management Company
- Affirmative Fair Housing Marketing Plan
- Idaho Workforce Housing Fund Sponsor Certification
- Idaho Workforce Housing Fund Certification of Understanding and Compliance for ARPA-SLFRF
- Idaho Workforce Housing Fund Preliminary Architect Certification
- Idaho Workforce Housing Fund Preliminary Architect Certification for High-Quality Building
Idaho Workforce Housing Applications Received/Awarded
Additional Resources
Resource Documents
- Approved Market Study Provider List
- Guide To Establish HOME Utility Allowances
- HOME UA Worksheet
- HOME Utility Allowance Memo
- Level 1 Environmental Approved Provider List
- Permanent Supportive Housing – CMIS Service Provider List
- Permanent Supportive Housing – HMIS Service Provider List
- Utility Allowance Contact by County
LIHTC Income and Rent Limits
Difficult to Develop/Qualified Census Tract
- Obtain HUD’s Difficult Development Areas and Qualified Census Tracts
Look up a specific census tract by physical address
Links To Website Resource
Financing Options
Short-Term Financing Lending Program
IHFA provides short-term financing (6-24 months) to help facilitate affordable housing developments. This financing can provide funding for housing-type loans including land purchases, infrastructure financing and construction loans. All loans will have a specified takeout or payoff associated with the proposal. IHFA will not entertain any speculative projects. Proposed projects must meet the objectives established by IHFA’s executive team and its board of commissioners.
Please click on the link below for detailed information.
Short-Term Financing Lending Program
Construction/Permanent Loan
IHFA offers construction loans with very competitive rates and fees. In addition, terms of up to 18 months with a 6 month extension upon IHFA approval are available. We have years of construction lending experience and take pride in our lending flexibility and quick turnaround of draw requests.
Please click on the link below for detailed information.
Construction Loan Financing Term Sheet
Permanent Loan – Idaho Community Reinvestment Corporation (ICRC 501(c)(3)
The Idaho Community Reinvestment Corporation (ICRC) is a nonprofit mortgage-banking consortium formed in 1993 by 10 Idaho financial institutions. The nonprofit 501(c)(3) organization has a $22 million revolving loan pool to provide permanent financing for the development of affordable housing throughout Idaho.
The ICRC, in partnership with the Idaho Housing and Finance Association, pursues a common goal of providing multifamily housing to low- to moderate-income Idaho families. In this partnership, the ICRC provides the capital and IHFA provides the affordable housing “knowledge.” As an agent for the ICRC, IHFA underwrites loan proposals and presents these as credit recommendations to the ICRC Loan Committee.
Funding decisions are approved by the Loan Committee, which is comprised of real estate professionals from the member institutions. IHFA provides technical assistance to the ICRC and affordable housing developers based on its extensive experience in finance, real estate financing of resources, potential equity sources and affordable housing. The benefits from this IHFA/ICRC partnership include the maximum use of scarce housing resources and better service to developers by providing a “one-stop shop” for affordable housing sponsors.
Information and Brochures
IHFA Risk Share Permanent Loan
IHFA offers a permanent loan utilizing the Risk Share program with a minimum loan amount of $1,500,000.
Subordinate Financing
IHFA can also assist affordable housing sponsors in obtaining subordinate financing for their project. During construction, subordinate financing typically covers the difference, or equity gap, between the cost of construction and the amount of the construction loan. After construction, the loan is in a subordinate position to the senior permanent lender. Learn more about subordinate financing by clicking on HOME Program.