Join us for:
"LIHTC and State and Local Fiscal Recovery Funds ("SLFRF")"
|Thursday, May 19|
|10:30 AM - 12:00 PM CDT|
Financing for Affordable Housing has the opportunity to benefit from new Federal Funding. The American Rescue Plan Act of 2021 contained $350 billion of State and Local Fiscal Recovery Funds (“SLFRF”). SLFRF are allocated to state and local government entities which use the funds to address (a) the harms inflicted by the COVID-19 Pandemic on beneficiaries or a class of beneficiaries, or (b) negative economic consequences from the Pandemic. The SLFRF Final Rule was published on January 27, 2022 and became effective on April 1, 2022. The Final Rule specifically provides that SLFRF can be used for certain affordable housing and that such funds can be distributed as grants or loans. This webinar will discuss the federal tax and regulatory complexities of using SLFRF for affordable housing, especially low-income housing tax credit transactions. The discussion will include how funds are being used Nationally, as well as a spotlight on how they are being employed by the Illinois Housing Development Authority.
Illinois Housing Development Authority - Jack Wambach, Assistant Director, Multifamily Business Development & Originations Multifamily Financing Department.