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Adopted: July 27, 2023Minutes Connecticut Housing Finance Authority Special Board of Directors Meeting No. 613 June 29, 2023, Directors Present: (In Person)Sale MosqueraBruno, Chairperson of CFA and
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Who needs qualified allocation plan approved?

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Developers or organizations seeking to apply for qualified allocation of funds
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Construction companies or contractors involved in affordable housing projects
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Government agencies responsible for allocating funds for affordable housing initiatives
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A qualified allocation plan approved is a document that outlines the process and criteria for allocating low-income housing tax credits (LIHTCs) to projects, ensuring compliance with federal requirements.
State housing agencies are typically required to file a qualified allocation plan approved as part of their administration of the low-income housing tax credit program.
To fill out a qualified allocation plan approved, agencies must follow specific guidelines set by the IRS, detailing eligibility requirements, selection criteria, and other essential components for LIHTC allocation.
The purpose of a qualified allocation plan approved is to provide a structured approach for selecting projects for tax credit allocation, promoting affordable housing and ensuring compliance with federal tax laws.
Information that must be reported includes project selection criteria, descriptions of preferences, application procedures, and compliance responsibilities related to the LIHTC program.
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