Page 19 - OPG Presentation - Wolfforth

TaxCredits101:
How the Program Works
Once a property is placed in service, the tax credit compliance period for the developer extends for 35 years in Texas. This additional 35 years is known as the extended use period. Investors typically exit the investment at the completion of the 15-year compliance period, after which the risk of recapture ends. The developer, however, maintains ownership and the property must continue with affordable rent restrictions for 35 years.
Highland Ridge Apartment Homes - 240 units / Multi-Family Affordable & Market Housing - Manhattan, KS $7.5 Million Tax Credit Allocation 2008 Kansas Housing Resources - Multi-Family Achievement Winner