Office of the City Clerk - Record #: F2023-9

• Record #: F2023-9
• Type: Communication
• Status: Placed on File
• Intro date: 2/1/2023
• Final action: 2/1/2023
• Title: Department of Housing's draft of 2023 Low-Income Housing Tax Credit Qualified Allocation Plan
• Sponsors: Dept./Agency
• Topic: CITY DEPARTMENTS/AGENCIES - Housing, - REPORTS - Miscellaneous

Date	Journal Page Number	Action By	Action	Result
2/1/2023	60181	City Council	Placed on File

Qualified Allocation Plan 2023
Chicago Department of Housing














Table of Contents
Section I General
Section II Application Process
Section III Selection Criteria and Preferences
Section 42 Mandatory Selection Criteria
DOH Selection Criteria

Priority Tracts
DOH Policy Objectives
• Tax Credit Reservation Allocation Requirements Section IV Tax Credit Reservation and Allocation Process



Section V Tax Credits with Tax Exempt Bond Financing



Section VI Compliance Monitoring Requirements



Section VII Other Conditions



Executive Approval



Appendix
Summary of DOH Selection Criteria
Permanent Supportive Housing Guidelines Section 42 Mandatory Selection Criteria

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A. General Information
The Low-Income Housing Tax Credit Program ("LIHTC Program") was instituted by the Tax Re­form Act of 1986, as set forth under Section 42 of the Internal Revenue Code of 1986 (the "Section 42"). Section 42 authorizes local housing finance agencies to allocate Low-Income Housing Tax Credits ("Tax Credits") to qualified rental housing developments. The City of Chicago (the "City") administers the LIHTC Program through its De­partment of Housing (DOH).

This Low-Income Housing Tax Credit Qualified Al­location Plan (this "QAP"), as required under Sec­tion 42(m), establishes the priorities and selection criteria for the allocation of Tax Credits by DOH and administration ofthe LIHTC Program until a subsequent allocation plan has been adopted by the City or until the LIHTC Program is terminated.

All references to statutes and treasury regula­tions shall be deemed to include changes and modifications made therein from time to time. Nonetheless, DOH reserves the right to initiate fu­ture amendments to this QAP to reflect changes instituted by law and the Internal Revenue Service (the "IRS") and to reflect changes in the City's priorities and selection criteria in connection with the allocation of Tax Credits.

DOH will evaluate applic...