In order to understand the new minimum set-aside, as discussed HERE, it is important to have a firm grip on how the minimum set-aside works. This quiz tests that knowledge.
1. The minimum set aside is based on the lesser of a percentage of square footage or number of units.
True or False
3. For a project with a 20-50 minimum set-aside, what percentage of units can be at or below the 60% tax credit income limit, but above the 50% and be counted as tax credit?
2. After the 2018 Omnibus Tax Law change, which of the following is NOT a minimum set aside option?
B. 20-50 (average)
D. 25-60 (average)
E. 40-60 (average)
CLICK HERE for answers to this week's quiz