Temporary housing support for those affected by a federally declared major disaster.
Background
In accordance with Revenue Procedure 2014-49 the Colorado Housing and Finance Authority (CHFA) is permitting owners of Low Income Housing Tax Credit (LIHTC) properties in the State of Colorado to provide temporary emergency housing to displaced individuals affected by a federally declared major disaster as published on FEMA Disasters.
Information for Individuals Displaced by a Federally Major Disaster
Individuals displaced from their principal place of residence by a federally designated major disaster may reside in LIHTC properties in Colorado, despite income requirements. In order to qualify, the individual must (1) be displaced from his or her principal residence as a result of a federally declared major disaster, and (2) the individual's principal residence must be located in a Major Disaster Area designated as eligible for Individual Assistance by FEMA. To learn more, including whether an area is located in a Major Disaster Area designated as eligible for Individual Assistance by FEMA, please visit www.fema.gov.
Information for LIHTC Owners
Owners of LIHTC properties who wish to provide temporary emergency housing to displaced individuals must have written approval from CHFA to do so. To obtain written approval, please select the appropriate form below. If approved, CHFA will provide owners with a specific form to use for each displaced household. Please review Revenue Procedure 2014-49 (for LIHTC properties) and Revenue Procedure 2014-50 (for projects financed with exempt facility bonds under § 142(d)) carefully and in their entirety to avoid noncompliance.
Additional Questions?
If you have additional questions, please contact your program officer or Chris Linton.
Chris Linton
Manager, Multifamily Program Compliance