Housing Credit Application Process
Deadlines for the Housing Credit application process are spaced throughout the year. It is of paramount importance that applicants meet these deadlines. In addition to application deadlines, you will find the projected dates for various notifications below.
The following schedule will apply to the 2020 application process for 9 percent tax credits and the first round of tax-exempt bond volume with 4 percent tax credits.
January 24 - Deadline for submission of preliminary applications (noon).
March 16 - Market analysts will submit studies to the Agency and applicants.
March 27 - Notification of final site scores.
April 6 - Deadline for market-related project revisions (5 p.m.).
April 13 - Deadline for the Agency and applicant to receive the revised market study, if applicable.
May 15 - Deadline for full applications (noon).
August - Notification of Housing Credit awards.
Tax-Exempt Bond Process
In addition to the timeframe above, the North Carolina Housing Finance Agency will accept applications for tax-exempt bond volume with 4 percent tax credits any time between May 1 and October 1. Both new construction and rehabilitation projects will be eligible. Proposals for 9 percent tax credits will not be accepted at that time. When a preliminary application is submitted in this timeframe, a schedule of milestones will be provided to the applicant. The preliminary application submission date will determine when those milestones occur and will follow a timeframe similar to the schedule above. The Agency will work with the applicant to determine if the project will receive 2020 or 2021 volume cap. Full applications can be submitted no later than January 15, 2021.
Applications are submitted through our online housing tax credit application. The online application provides interactive checks that help ensure you meet all submission requirements. If you have an email address and password from a previous application cycle, you can use that to access the system and create new applications. Otherwise, you will need to register as a new user before creating applications.