HUD recently released the 2023 list of Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs) for purposes of Housing Credit basis boost allowances. DDAs are areas with high construction, land, and utility costs relative to area median income (AMI), and QCTs are areas where either 50 percent or more of households residing there have incomes of less than 60 percent of AMI or the area has a poverty rate of at least 25 percent. LIHTC properties built in a DDA or QCT can boost their eligible basis by up to 30%.
New QCT and DDA designations will go into effect on January 1st, 2023. HUD makes these designations based on the modified small area fair market rents, FY2022 income limits, and 2020 Census population counts.
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November 15, 2022 at 09:16PM
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HUD Releases 2023 Housing Credit Difficult Development Areas, Qualified Census Tracts - TAAHP
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