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Low Income Housing Tax Credit

This program provides federal tax incentives to for-profit or nonprofit organizations to develop affordable rental housing for low- and very low-income households.

Awards are made under a competitive process. Eligible activities include new construction, acquisition and rehabilitation projects.

This program falls under the Greater Opportunities for Affordable Living program. For more information, see theGOALpage.

Grant Funding Availability

In September 2016, Alaska Housing Finance Corporation (AHFC) will announce the FY 2017 Notice of Funding Availability (NOFA) for its Greater Opportunity for Affordable Living (GOAL) Program. Under this NOFA, AHFC will make grants, zero-interest loans, and Low-Income Housing Tax Credits available for competitive allocation to successful pre-application respondents to acquire, rehabilitate, or construct rental housing. For eligibility to apply for GOAL Program funds,all applicants are required to submit Pre-Applications to AHFC through an online application system.

Application for GOAL funding is a sequential three (3) step process. Applicants must (1) register for the online application system, (2) submit a Pre-Application using the online application system and (3) submit a GOAL Application using the online application system. This Notice contains requirements and deadlines for Steps (1) and (2). Applicants will NOT be eligible to apply for GOAL funding unless they first meet both deadlines for Steps (1) and (2).

Step (1): To submit Preliminary Applications through the online system, AHFC must receive Registration Requests for the online system by 4:30 p.m. (Anchorage time) on June 24, 2016.

Step (2): Completed Pre-Applications must be submitted through the online application system by 4:30 p.m. (Anchorage time) on July 12, 2016.

The preliminary application will, in part, provide sufficient information for AHFC to determine if the project proposal meets the minimum criteria for invitation into the full FY 2017 GOAL competition. A full list of items that will be reviewed during the pre-application is available in the GOAL Program Rating and Award Criteria Plan. The full FY 2017 GOAL application, to be submitted in the Fall of 2016, will address other aspects of the proposed development in greater detail. These additional aspects are outlined in the GOAL Program Rating and Award Criteria Plan. Supporting information on all of these components will be submitted in the full GOAL application.

The deadline to submit Registration Requests for the online application system is 4:30 p.m. (Anchorage time) on June 24, 2016. All entities wishing to submit a Pre-Application must submit Registration Requests for access to the online application system according to this deadline.

Who May Apply

  • For-profit organizations
  • Nonprofit organizations
  • Regional Housing Authorities

Tax Credit Allocations and Developments

Reference Materials

  • See theGOAL Download Pagefor reference materials, including forms, rent and income limits, and historical data.

Contact Information

Andy Petroni
Planning and Program Development Department
Alaska Housing Finance Corporation
P.O. Box 101020
Anchorage, AK 99510-1020
907-338-2585 (fax)