State and local governments sell tax-exempt Housing Bonds, commonly known as Multifamily Housing Bonds, and use the money to finance construction of apartments that are affordable to lower income families. SC Housing's Multifamily Tax-Exempt Bond Financing Program provides permanent real estate financing for property being developed for multifamily rental use. Development teams should have sufficient experience in multifamily rental housing designed for use by low to moderate income tenants to assure the successful completion and operation of the development.
SC Housing is closely monitoring developments concerning the Coronavirus Disease 2019 (COVID-19) in our state and considers the health, safety, and well-being of our staff, customers, and partners to be our highest priority. We join forces with Governor Henry McMaster, health officials, and others in our state in proactively addressing this public health risk to our citizens.
We are implementing the recommended Center for Disease and Control (CDC) precautionary measures to promote social distancing and limiting our staff travel and participation in external events to mission-critical activities. We are confident that these actions will allow us to continue essential business functions in a manner that safeguards the health interests of everyone concerned. We also have contingencies in place for critical staff to work remotely in the event of an office closure.
SC Housing’s bond program remains closed with the exception of the application cycle that closed on September 11, 2020. Due to the increased interest in the tax-exempt bond program with the availability of state tax credits in addition to 4% credits, SC Housing is re-evaluating its current bond program. We anticipate re-opening the bond program in the 1st quarter of 2021.
|Application Deadline||Board Meeting Date|
|November 29, 2019||January 15, 2020|
|No meeting scheduled for February|
|January 31, 2020||March 18, 2020|
|No meeting scheduled for April|
|April 3, 2020 - Closed||May 20, 2020|
|May 1, 2020 - Closed||June 17, 2020|
|No meeting scheduled for July|
|July 2, 2020 - Closed||August 19, 2020|
|July 31, 2020 - Closed||September 16, 2020|
|September 11, 2020||October 21, 2020|
|October 2, 2020 - Closed||November 18, 2020|
|No meeting scheduled for December|
Questions regarding the Multifamily Tax-Exempt Bond Financing Program can be submitted via email to email@example.com.