Navigating LIHTC Funding Requirements Like Pros.
While the construction of affordable housing projects may on the surface appear to be simply building or renovating an apartment complex, affordable housing that utilizes Low Income Housing Tax Credits (LIHTC) requires a unique set of skills and knowledge. With years of experience and our team’s involvement in our community, Mowery understands the importance of affordable housing, and more importantly the unique challenges of the process.Affordable Housing projects are most often developed utilizing LIHTC. This funding source, along with the project’s private equity requirements, demands a significant understanding of the process to ensure that the project meets all the requirements and timelines associated with this unique form of development. Mowery typically partners with the development team at the earliest stages of the project. The benefits of this early partnership include:
- We understand the importance of developing reliable cost estimates early in the process based on very limited design.
- We also understand how to comply with often unique project requirements as a result of the funding sources.