Low-Income Housing Tax Credit (LIHTC) Program Tax Credit Application

The City of Tampa's Housing and Community Development (HCD) Division is seeking developer applications for the 9% Low-Income Housing Tax Credit (LIHTC) Program in Hillsborough County, Florida. This procurement aims to support multi-family housing development that addresses affordable housing needs outlined in the City's Consolidated Plan. Developers will apply for federal tax credits to offset construction costs in exchange for reserving a portion of units as rent-restricted for lower-income households. The proposal evaluation will utilize a 100-point scoring system across seven key categories: Organizational Capacity (5 points), Environmental Review (10 points), Project Description (15 points), Project Readiness/Program Implementation Schedule (15 points), Financial Capacity (20 points), WMBE Participation (20 points), and Community Engagement (15 points). Key dates include a non-mandatory pre-proposal meeting on April 15, 2025, at 10:00am, a question submission deadline of June 20, 2025, at 12:00pm, and a proposal submission deadline of June 27, 2025, at 12:00pm. The city will provide a letter of support for Florida Housing Finance Agency Tax Credit and Bond applications, with the expectation that a formal agreement will be negotiated and approved by the City Council within one year of the award date.

The solicitation demonstrates a commitment to diversity, with the planholder list indicating opportunities for various enterprise types, including African American-owned, Woman-owned, Asian/Hawaiian-owned, Veteran-owned, and Small Business enterprises. The city will provide potential HOME or SHIP funds to support the selected project, with funding not to exceed $750,000 for Geographic Area of Opportunity/Small Area Difficult to Develop Area (SADDA) funding. Successful developers must create affordable housing that de-concentrates areas of poverty and furthers Fair Housing objectives. The procurement targets only one developer for the 9% tax credit application, with potential consideration for 4% tax credit applications depending on available funding. Construction must commence within six months of agreement execution, and the selected developer will be expected to create rent-restricted and income-restricted housing units. The solicitation attracts a diverse range of potential bidders, including construction companies, consulting firms, and real estate development organizations, indicating a competitive and comprehensive procurement process.