Special rule for multifamily housing bonds — Multifamily Housing Applications
Arkansas Code § 15-5-318; Arkansas Code § 15-5-603; Arkansas Code § 15-5-604; Arkansas Code § 15-5-605
- (a) Applicants for multifamily housing bonds may submit an Application for Reservation of Volume Cap at such time as the applicant’s Multifamily Housing Application has been approved by the Board of Directors of the Arkansas Development Finance Authority.
(b) The Staff Housing Review Committee of the Arkansas Development Finance Authority will review Multifamily Housing Applications in:
- (1) The same manner as applications for allocations of low-income housing tax credits; and
- (2) Accordance with the state’s Qualified Allocation Plan.
- (c) At such time as the Staff Housing Review Committee determines a Multifamily Housing Application is complete, it will submit its findings to the Board Housing Review Committee.