[Federal Register Volume 74, Number 87 (Thursday, May 7, 2009)]
[Notices]
[Page 21383]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-10686]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5308-N-01]


Notice of Availability: Implementation of the Tax Credit 
Assistance Program (TCAP)

AGENCY: Office of the Assistant Secretary for Community Planning and 
Development, HUD.

ACTION: Notice.

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SUMMARY: Through this notice, HUD announces the availability on its Web 
site of the submission requirements, eligible uses, fund commitment and 
expenditure deadlines, fund distribution, and other requirements for 
the Tax Credit Assistance Program authorized by Section 2, Division A, 
Title XII of the American Recovery and Reinvestment Act of 2009 (Pub. 
L. 111-5, approved February 17, 2009). TCAP funding is eligible to be 
used for capital investment in eligible Low-Income Housing Tax Credit 
(LIHTC) projects. A major purpose of TCAP funds is to immediately 
create jobs or save jobs in danger of being lost due to the current 
economic crisis. Approximately $2.250 billion is allocated for this 
purpose under the heading of the HOME Investment Partnerships Program 
(HOME). The available funding will be allocated to state housing credit 
agencies based on the percentage of the 2008 HOME appropriation 
received by the state and local participating jurisdictions within the 
state. The housing credit agencies of each state, the District of 
Columbia, and the Commonwealth of Puerto Rico are the only eligible 
grantees of the TCAP program. The notice establishing the program and 
application requirements for these funds, allocation information, and 
eligibility criteria is available on the HUD Web site at: http://www.hud.gov/recovery/tax-credit.cfm.

FOR FURTHER INFORMATION CONTACT: Clifford Taffet, Director, Office of 
Affordable Housing, Office of Community Planning and Development, 
Department of Housing and Urban Development, 451 7th Street, SW., Room 
7162, Washington DC 20410-3000; telephone 1-800-998-9999. Hearing- or 
speech-impaired individuals may access the voice telephone number 
listed above by calling the toll-free Federal Information Relay Service 
during working hours at 800-877-8339.

    Dated: April 14, 2009.
Nelson R. Breg[oacute]n,
General Deputy Assistant Secretary for Community Planning and 
Development.
[FR Doc. E9-10686 Filed 5-6-09; 8:45 am]
BILLING CODE 4210-67-P