LIHTC Gap Financing

The City of Glendale is dedicated to expanding affordable housing opportunities and fostering partnerships with private and nonprofit developers. We partner with private and nonprofit developers to expand affordable housing through the Arizona Department of Housing’s Low-Income Housing Tax Credit (LIHTC) programs.

To achieve this goal, the City has a streamlined process for awarding local gap financing for proposed LIHTC projects. Applications are accepted on a rolling, first-come basis, and we welcome both 4% and 9% projects. Priority is given to complete, well-prepared proposals that demonstrate capacity for timely execution. Properties must be within the corporate limits of Glendale.

We are currently accepting applications for Gap Financing for LIHTC Projects. Submit complete applications by email to revitalization@glendaleaz.com

4% and 9% Deals

ADOH accepts applications for 9% LIHTC deals during a limited window. To align with the state's application schedule and to support applicant success, the City will accept local gap financing applications for 9% LIHTC deals once ADOH opens its application process, up to 30 days from the submission deadline.

The City of Glendale accepts local gap financing applications for 4% LIHTC deals on a rolling basis year-round.

Applicants are encouraged to plan accordingly to ensure a successful review process. Please send complete applications to revitalization@glendaleaz.com.

Application Materials

To ensure gap financing for LIHTC deals are awarded to competitive deals with a strong chance of success, applicants must submit a complete package for review. The City evaluates submissions based on qualification, experience, cost, and feasibility. Required materials include:

1. Letter of Intent: A document (maximum of 3 pages) detailing the qualitative aspects of the applicant’s professional experience and qualifications.

2. Self-Scoring Matrix: Completed by the developer, this matrix allows the applicant to score their project in key categories such as Experience and Feasibility, demonstrating preparedness and capabilities.

3. Documents Proving Site Control: Site control is required for applications to be considered for a funding award. Please submit supporting documentation evidencing this, such as: Fee-simple title Purchase and sale agreements Option agreements Long-term lease agreements.

4. Other Supporting Documentation (optional): If the LIHTC deal has other elements in place that are relevant to the deal's feasibility, please provide them in your application package. This is including, but not limited to:

Part 58 NEPA Environmental Review and receipt of an Authority to use grant funds from HUD
Commitment of all funding necessary to complete the deal, including a LIHTC award from ADOH
Completion of a satisfactory Market Study showing need for the project
Completion of preliminary and final underwriting demonstrating the need for the City's investment

Templates for these documents are available below.

Please send complete applications to revitalization@glendaleaz.com.

Our Review Process

The City strives to review complete LIHTC financing application packages and make funding decisions within three (3) weeks of submission.

For Successful Applications

Approved applications will receive written notification outlining:
The awarded funding amount. Any applicable conditions.
Next steps for project implementation.

Applicants will then be invited to meet with program staff to review compliance requirements, establish a timeline for fund disbursement, and set project milestones.

For Unsuccessful Applications

Applications not selected for funding will receive a written notice explaining the decision. If requested, program staff will provide feedback on the application, highlighting any areas for improvement or eligibility criteria that were not met. Unsuccessful applicants are encouraged to apply for funding in the future if they meet eligibility requirements.