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THRHA IRS Tax Credit Program

What it is...

Tlingit-Haida Regional Housing Authority presently offers an IRS Tax Credit Assistance Program or Low Income Housing Tax Credit Program (LIHTC) which is a rent-to-own program designed to provide residents in Juneau and (Ketchikan in 2006) with affordable rent to own housing opportunities for themselves and their families. This program is available to all qualified applicants regardless of race, creed or religion. The goal and purpose of this program is to encourage families who are currently renting their dwellings into fulltime homeowners with all the benefits of owning a modern, beautiful, safe and affordable home. The program guidelines are determined by the Internal Revenue Service while all of the qualifications and program guidelines are administered by THRHA.

In 2003, THRHA and the IRS Tax Credit Program began development of the Glacier Village subdivision's first 25 brand new, energy efficient homes which we moved families into on July 23rd, 2003. In 2004, the second phase of the Glacier Villiage Subdivision including an additional 25 new homes was completed and families were moved in on July 28th, 2004. In 2005, we were proud to announce the completion of Glacier Village Phase III which introduced 16 new condominium-style zero lot homes in which we moved families in on August 16th, 2005. The same year, we established a new partnership with the Ketchikan Indian Corporation (KIC) and were awarded the competitive AHFC goal to develop 25 new units atop Carlanna St.

THRHA has vowed to continue to work this program in efforts to put more and more families into these beautiful new homes. "For the families that have received these new homes, this is great moment for them and a great celebration. But it's not enough" says Dr. Blake Y. Kazama, President/CEO for Tlingit-Haida Regional Housing Authority. He goes on to further say that "for those families that have not received a home, we're not going to give up! We're going to keep on fighting".

 
Program Terms

Terms of Program Use

THRHA purchased Glacier Village Subdivision in 2000. The subdivision is located off of Valley Boulevard in Juneau’s Mendenhall Valley. The first phase of 25 single-family homes was completed in June of 2003. Recognizing the increasing severity of demand for affordable housing in the community the THRHA continued with the development of Phase II, even without this vital funding source, in order to stay on schedule. This also makes the project unique since 25 families will be able to move into new homes within five months of the award of funding estimated as early as July 2004.

“While there is currently a serious shortage of affordable homes in Juneau, it will pale in comparison if the Kensington mine begins development. We are also proud of the innovative and unique design of this program as it provides significant quality and incentives to renters including homeownership,” said THRHA executive director Dr. Blake Y. Kazama. “The homes are available to all residents of Juneau, regardless of race. With projects like this, THRHA is able to effectively assist entire communities while becoming more self-sufficient. We certainly appreciate the efforts of the Alaska Housing Finance Corporation and their confidence in us.” ...
Eligibility Requirements

Program Qualifiers to determine eligibility

The (LIHTC) IRS Tax Credit Assistance Program is based on a preference points accrual system by which a series of elegibility qualifiers are evaluated and assigned points to by the Tax Credit Specialist and the Tax Credit Assistant before final evaluation by the selection committee at THRHA. The Tax Credit Specialists work closely with the applicants to ensure that all of the necessary information including annual income, criminal history, employment, social security, public assistances and bank verifications as a few examples.

 
What's next for me?

Let's get started!

The Tax Credit Program is now going full steam ahead this year. The IRS Tax Credit Program provides qualified low-income families (both native and non-native) with down payment and closing cost assistance on the purchase of their home here in Southeast Alaska. As an administrator of this program, THRHA has linked up with the Alaska Housing Finance Corporation (AHFC) to offer this zero-interest, forgivable HOP loan to any qualified Southeast Alaska community resident...

 

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