Low Income Housing Tax Credits (LIHTC)

[Victor Chico]

Hello!

Can anybody share their experience on using LIHTC? Also, can you point me to good resources (books, websites, etc) where I can learn more?

I recently met with my local housing finance authority to find out about this program. It seems that the program is geared toward big projects (e..g, 60+ units) and not small projects (5-10 units). There are 9% and 4% programs. After reading the requirements for the 9%, I believe the 4% is a better fit for what I am trying to do. However, it still seems like a very big mountain to climb.

I would like to acquire properties, rehab them (with LIHTC) and rent them to Section 8 or other low income tenants. I am wondering if this will be possible if my target property is a 5 to 10 unit property.

Any thoughts?