Most Aspire projects will be subject to a total award cap of $42 million, but residential projects also receiving LIHTC or projects located in certain economically disadvantaged locations may receive up to $60 million
Baseline tax credits available
Tax credits equal to 45 percent of project costs up to $42 million
Commercial projects in a GRM can receive tax credits up to 50 percent of project costs in project support.
Newly constructed residential projects that are also utilizing four percent LIHTCs can receive tax credits up to 60 percent of project costs
Projects using LIHTC or any other project in a Qualified Incentive Tract (QIT), GRM, or municipality with an Municipal Revitalization Index (MRI) distress score of at least 50, can receive tax credits up to $60 million