May 30, 2024—This notice is intended to clarify the Notice of Pause that was issued by Louisiana Housing Corporation (LHC) on yesterday, May 29th, regarding the PRIME 3 funding round. The notice was intended to provide clarity and transparency related to the PRIME 3 funding round. The State Bond Commission has expressed a strong interest in supporting affordable housing across the state.
Please be advised that, while LHC is working with the Louisiana Legislative Auditor and State Bond Commission to study development costs, we expect to maintain the original timeline in awarding the PRIME 3 Low Income Housing Tax Credit (LIHTC) funding. The State Bond Commission has indicated an overwhelming willingness to work with LHC.
We appreciate the State Bond Commission for working with LHC to ensure that we make the best decisions regarding the effective and efficient use of available multi-family revenue bond funding.