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109.04.1-III. Limits on Allocation of Credits.

AR ADC 109.04.1-IIIArkansas Administrative Code

West's Arkansas Administrative Code
Title 109. Development Finance Authority
Division 04. Multi-Family Housing
Rule 1. Housing Credit Program Qualified Allocation Plan
Ark. Admin. Code 109.04.1-III
109.04.1-III. Limits on Allocation of Credits.
The Code requires that ADFA determine “the [Housing Credit] dollar amount allocated to the development will not exceed the amount the housing credit agency determines is necessary for the financial feasibility of the development and its viability as a qualified low-income housing development throughout the credit period.” Housing Credits will be limited to the amount the Authority, in its sole discretion, deems necessary. Housing Credits are not intended to provide the primary or principal source of financing for a development, but are intended to provide financial incentives sufficient to fill “gaps” which would otherwise exist in developing affordable rental housing for low-income households.

Credits

Amended Oct. 23, 2009; Nov. 5, 2010; Nov. 23, 2011; Nov. 21, 2012; Oct. 25, 2013; Dec. 19, 2014.
Current with amendments received through December 15, 2023. Some sections may be more current, see credit for details.
Ark. Admin. Code 109.04.1-III, AR ADC 109.04.1-III
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