The Nashville Multifamily Tax-Exempt Bond Authority (MTBA) Program is set to make a significant impact with $445,405,500 available for multifamily use in 2024. This program presents a valuable opportunity for developers and investors in the Nashville area to leverage tax-exempt bonds for multifamily projects, contributing to the growth and development of the community.
The application process for the MTBA 2024 Round 1 kicked off on February 23, 2024, giving developers and organizations a chance to access this funding opportunity. With a deadline of March 22, 2024, it’s crucial for interested parties to prepare and submit their applications within this window. The maximum amount of the MTBA Program that may be committed to a single applicant, developer, owner, or related party cannot exceed $66,000,000. Additional occupancy rates for those under specific area median income ranges will apply. Reach out to one of our Tennessee credits and incentives experts today for assistance with this program.
TECHNICAL INFORMATION CONTACTS:
Allea Newbold
Principal
Ryan
813.830.2564
allea.newbold@ryan.com
Christopher Kovalcik
Director
Ryan
502.558.7086
christopher.kovalcik@ryan.com
Catherine Nash
Senior Consultant
Ryan
615.698.9551
catherine.nash@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Allea Newbold
- Property Tax
- Tennessee