What preferences does the Commission give to certain types of developers (i.e. what are the Credit Set-Asides)?
The Commission has established the following five Credit Set-Aside categories in which Qualified Projects compete with each other: • Qualified Nonprofit Organization 10% • Nonprofit Organization 15% (temporarily suspended) • Profit-motivated entities 15% (temporarily suspended) • Rural Housing Projects 15% • Rural Development Projects 5% • Hope VI Projects 20% (2005-2009) The balance of the Commission’s annual Credit authority (50%) is called the “General Pool”. Projects which meet the conditions for a Credit Set-Aside category will only compete with other Projects in that Credit Set-Aside category in the initial Application ranking process. The remaining amount of per capita Credit authority is available for Qualified Projects which did not elect a Credit Set-Aside category and to Projects which selected a Credit Set-Aside but did not receive a reservation of Credit from the Credit Set-Aside. Applicants/Owners must make a commitment for a twelve (12) year minimum Additional Low-Income
