Excel _63 KB_ - WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY

							WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY Low Income Housing Tax Credit (LIHTC) Program ALLOCATION CERTIFICATION REQUEST FORM INSTRUCTIONS FOR NON-COMPETITIVE APPLICATIONS

Please request your allocation immediately after placing the project in service and finalizing the costs. Timely submission of the final application must be made per the terms of the QAP, or an extension must be requested and extension fees may be assessed. Submit one ACR spreadsheet per LIHTC application. Complete each section of Project Summary tab (ACR spreadsheet) following the instructions below. To ensure the spreadsheet functions properly, macros must be enabled . Section 1: Key data within the shaded cells following instructions on the ACR spreadsheet itself. Section 2: After Section One fields are complete, select the "Generate B.I.N." button to auto-generate B.I.N.s for the project. If a change is needed in the yellow highlighted fields (Section One) after Generating BINs, a new spreadsheet must be created. Section 3: Only fields with shaded column headings need completion. Complete two lines per building for acquisition/rehab projects: one for acquistion credit and one for rehab credit. Complete one line for new construction buildings. Building ID Number (B.I.N.): System-generated from information entered in Section One. Do not manually update. Building Type Select the appropriate building type from the drop down list. Date Building Placed in Service: Please consult a tax professional familiar with IRS Section 42 regulations regarding placed in service date question(s). Additionally, see Internal Revenue Service (IRS) notice 88-116. New construction/adapative reuse: Submit copy(ies) of the occupancy permit(s). If the municipality does not issue occupancy permits, explain in writing and attach alternative documentation. (AIA Form G704 may be acceptable.) Contact WHEDA with questions. For Acquisition: Transfer of a building results in a new placed in service date if, on the date of the transfer, the building is occupied or ready for occupancy. Eligible Basis: Calculate the total eligible building basis attributed to each building. The sum total of building eligible basis cannot exceed the total project eligible basis. Please consult a tax professional familiar with IRS Section 42 regulations with questions regarding the inclusion in basis of any cost items. Building Applicable Fraction: Calculate the applicable fraction which is either: the lesser of the ratio of low-income units to total units, OR, low-income unit floor space to total unit floor space. On-site manager units must be treated as common space - subtract from both the numerator and decominator of the applicable fraction. Qualified Basis: Do not modify this field - it calculates automatically. To update, modify either the Eligible Basis or Applicable Fraction. Credit %: If an election was made to lock credit percentage(s) the elected rate(s) is/are used. Refer to the "Statement of Election" form. If no election was made, the final Credit Allocation is based on the percentage in effect during the month the building(s) placed in service. Credit percentages, prescribed and published by the Secretary of the Treasury on a monthly basis, are available upon request from WHEDA. Credit Request: Do not modify this field - it calculates automatically. To update, modify either the Qualified Basis or Credit %. ~ When all information is complete, print one complete copy the ACR spreadsheet. Sign, date and submit the spreadsheet to WHEDA with the final paper copies of the LIHTC application. ~ Additionally, email the spreadsheet to: melissa.cumming@wheda.com. List the project name and application number(s) in the subject line. ACR Noncompetitive 6-2-09

WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY Low Income Housing Tax Credit (LIHTC) Program ALLOCATION CERTIFICATION REQUEST FORM FOR NON-COMPETITIVE APPLICATIONS
Note: Input appropriate data in shaded fields below prior to "Generating B.I.N.s". Once B.I.N.s have been generated, if a yellow-shaded field requires correction, begin a new spreadsheet document. Complete 1 spreadsheet per application.
1. Complete the information in the sections below: LIHTC APPLICATION TYPE: APPLICATION NUMBER: (Key 4-digit number) YEAR OF 8609 ISSUANCE: (Enter 4-digit year) PROJECT NUMBER: (Enter 4-digit number) TOTAL NUMBER OF PROJECT BUILDINGS: (Enter number) ACQUISTION AND REHAB CREDIT? (Select dropdown) MINIMUM SET-ASIDE: (Select dropdown) LOCKED-IN CREDIT PERCENTAGE DATE: (Enter mm/yyyy OR n/a) TOTAL ANNUAL CREDIT $ AT TIER ONE: (Enter dollar amt. - no commas or decimals)

Non-Competitive

2. Press the "Generate B.I.N" button:

3. Enter information in columns below with shaded headings:
Blding ID Number (B.I.N.) Date Building Placed in Service Building Street Address Building Applicable Fraction Credit % Credit Request

Building Type

City

Zip Code

County

Eligible Basis

Qualified Basis

Totals:

$0

$0

$0

ACCEPTANCE & INDEMNIFICATION The undersigned __________________________________________________, The "Owner/Taxpayer" hereby agrees: 1. That WHEDA is relying on the information provided by the Owner/Taxpayer to determine eligibility for the allocation of the Credit and that WHEDA has not undertaken an independent investigation for the purposes of such determination, but reserves the right to undertake such an investigation. 2. The information contained in this Low Income Housing Tax Credit Allocation Certification Request is true and correct.

Ownerhip Entity

Authorized Signature

Date

Printed/Typed Name and Title