Low Income Housing Tax Credit
Forecasted
Low Income Housing Tax Credit supports developers and investors in building, acquiring, and rehabilitating rental housing in Alaska to provide affordable homes for low-income households.
Funder: Alaska Housing Finance Corporation
Due Dates (Anticipated): December 2026 (Full application) | July 2027 (Registration Request, projected) | July 2027 (Pre-Application, projected)
Funding Amounts: Federal tax credits over 10 years; one development may request up to one-third of available LIHTC authority
Summary: Supports construction, acquisition and rehabilitation of affordable rental housing for low-income households in Alaska.
Key Information: Only successful pre-applicants invited into the full GOAL competition may apply for competitive funding.
Description
The Low Income Housing Tax Credit (LIHTC) incentivizes developers and investors to create and operate affordable rental housing. Alaska Housing Finance Corporation (AHFC) administers Alaska’s credits through the Greater Opportunities for Affordable Living (GOAL) program and its Qualified Allocation Plan (QAP). Eligible work includes new construction, acquisition with rehabilitation, and rehabilitation of property already owned by a developer.
Developers receive federal income tax credits over 10 years and generally sell them to investors to generate project equity. This reduces borrowing and debt-service costs, enabling below-market rents. Projects must operate under LIHTC requirements during the required compliance period. Selection priorities include serving the lowest-income tenants, maintaining affordability longer, addressing local housing needs, leveraging other financing, and improving energy efficiency.
