(a) Application for 2009 Multifamily Volume Cap requires compliance with:

1. (1) Rules for the Allocation of the State Volume Cap for Private Activity Bonds, 15 CAR pt. 73, in effect at the time an application is filed;
2. (2) This part; and

3. (3)

   1. (A) The Housing Credit Program 2009 Qualified Allocation Plan.
   2. (B) Applicants applying to reserve volume cap for tax-exempt bonds must utilize the four percent (4%) low-income housing tax credits.
   3. (C) The Arkansas Development Finance Authority retains the authority to determine eligibility to receive tax credits and the amount of tax credits to be awarded to the development.

(b)

1. (1) Each applicant must complete:

   1. (A) An Application for Reservation of Volume Cap (see Appendix A-1 of Rules for the Allocation of the State Volume Cap for Private Activity Bonds); and
   2. (B) A 2009 Multi-Family Housing Application.
2. (2) Only complete applications will be considered for funding.
3. (3) Facsimiles and emails will not be accepted.
4. (4) The 2009 Multi-Family Housing Application must be submitted online as provided by the authority and by submitting a tabbed, three-ring bound hardcopy delivered to the authority at the following address: Arkansas Development Finance Authority Attn: Multi-Family Housing Department 423 Main Street, Suite 500 Little Rock, AR 72201 Telephone Number: 501-682-5900