Tennessee: Nashville Multifamily Tax-Exempt Bond Authority Program Presents New Funding Opportunities for 2024

The Nashville Multifamily Tax-Exempt Bond Authority (MTBA) Program is set to make a significant impact with $445,405,500 available for multifamily use in 2024. This program presents a valuable opportunity for developers and investors in the Nashville area to leverage tax-exempt bonds for multifamily projects, contributing to the growth and development of the community.

The application process for the MTBA 2024 Round 1 kicked off on February 23, 2024, giving developers and organizations a chance to access this funding opportunity. With a deadline of March 22, 2024, it’s crucial for interested parties to prepare and submit their applications within this window. The maximum amount of the MTBA Program that may be committed to a single applicant, developer, owner, or related party cannot exceed $66,000,000. Additional occupancy rates for those under specific area median income ranges will apply. Reach out to one of our Tennessee credits and incentives experts today for assistance with this program.