Low Income Housing Tax Credit
Forecasted
Alaska Housing Finance Corporation’s Low Income Housing Tax Credit program incentivizes affordable rental housing development and preservation for low-income Alaskans through federal tax credits.
Funder: Alaska Housing Finance Corporation
Due Dates (Anticipated): June 2027 (annual application deadline, projected)
Funding Amounts: Typical annual tax credit allocations per project range from ~$300,000 to $1.3M (4% or 9% credits) over a 10-year period; award size varies by project scope and state allocation.
Summary: Provides federal income tax credits to incentivize the development, acquisition, or rehabilitation of affordable rental housing for low-income households in Alaska.
Key Information: Competitive process; pre-application required; strict eligibility and compliance standards.
Description
The Low Income Housing Tax Credit (LIHTC) program, administered by the Alaska Housing Finance Corporation (AHFC), supports the creation and preservation of affordable rental housing across Alaska. Through this program, developers and investors receive federal income tax credits over a 10-year period in exchange for developing, acquiring, or rehabilitating rental properties for low-income households. The credits are allocated via a competitive process governed by the state's Qualified Allocation Plan (QAP) and are intended to reduce project financing needs, enabling below-market rents. The LIHTC program is a core component of AHFC's Greater Opportunities for Affordable Living (GOAL) Program.
