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Filling out the Qualified Contract Preliminary Application is an essential step for owners looking to exit the Low Income Housing Tax Credit program. This guide will provide clear and detailed instructions on how to complete the application online, ensuring that you can submit all necessary information accurately and efficiently.

Follow the steps to complete your application online.

1. Click ‘Get Form’ button to obtain the form and open it in the designated area.
2. Begin by filling in the project information section. You will need to provide the project name, street address, city, state, and zip code. Ensure all details are accurate to avoid delays.
3. Next, provide details regarding the partners in the ownership entity. List their names, addresses, phone numbers, and email addresses, ensuring that all additional partners are included on an attached sheet if necessary.
4. Answer the series of questions regarding project details, including the number of buildings and their respective placed-in-service dates. Be prepared to indicate whether copies of original 8609 forms are available.
5. Indicate if the Extended Use Agreement permits a qualified contract request. Provide information on any mixed-income units present in the project.
6. Complete the section addressing any preferences for purchasing the project due to partnership agreements. Supply documentation as necessary regarding any rights of first refusal.
7. State if the owner is willing to obtain waivers for any purchase options or rights of first refusal. Attach supporting documents if applicable.
8. Declare whether the project has any uncorrected violations cited through an 8823. If yes, detail the nature and date of the violation.
9. Review the current physical condition of the property and document any additional affordability restrictions due to loan agreements or project-based rental assistance.
10. Finalize your application by certifying the information provided is accurate. Attach required supporting documents and sign the application.
11. After completing the application, save your changes, and proceed to download, print, or share the form as needed.

Take the next step and complete your Qualified Contract Preliminary Application online today.