Faced with more demand for tax-exempt bonds than it has been allocated under the private-activity volume cap, the New York State Housing Finance Agency last week released expanded guidelines for its 80/20 housing program.

“These criteria are guidelines that will help HFA decide how to allocate a scarce resource at a time when demand exceeds the supply of available volume cap this year,” HFA spokesman Phil Lentz said in an e-mail. “The more criteria developers are able to satisfy, the better chance they have of securing volume cap for their projects.”

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