Oklahoma Housing Finance Agency has made a QAP revision regarding the allocation of State Tax Credits
Oklahoma Housing Finance Agency’s Qualified Allocation Plan (QAP) sets the state’s eligibility priorities and criteria for awarding tax credits. OHFA has made a revision that concerns how State Tax Credits will be allocated in 2023.
Of the $4 million available to bond financed developments, $2 million will be set aside for new construction applications, with the remaining $2 million being set aside for acquisition/rehabilitation applications. If not enough applications are received to award the full $2 million in a set-aside, the remaining funds will go to the other set-aside, until all available funds have been awarded. If funds remain in both set-asides, they may be combined to fund the next highest scoring application, notwithstanding the activity that application is for.