Practical expertise across the full LIHTC lifecycle
AllRay provides hands-on consulting for Low-Income Housing Tax Credit developments, supporting projects from early feasibility through compliance and stabilization. With a wealth of experience, we help teams structure deals that are competitive, financeable, and executable.
What We Do
Development Strategy & Feasibility
We help evaluate sites, programs, and capital stacks to determine whether a deal truly works.
Market and financial review
Feasibility analysis
Program layering and funding strategy
4% and 9% LIHTC structuring
Acquisition and rehab underwriting
QAP & Application Support
Allocating agencies are selective. We speak their language.
Coordination with syndicators, lenders, and financiers
QAP interpretation and scoring strategy
Application narrative support
Threshold and competitive review
Responding to agency questions and clarifications
Financial Structuring & Underwriting
Complex capital stacks are our comfort zone.
Sensitivity and gap analysis
Sources and uses optimization
Cash flow waterfalls and partnership structures
Developer fee strategy and deferrals
Investor and lender underwriting support
Construction & Closing Support
Problems tend to show up here. We help prevent them.
Compliance with funding source requirements
Construction draw review
Budget and cost certification support
Closing coordination
Why AllRay
With 12 years of experience across accounting, compliance, auditing, and development. That means fewer blind spots, fewer surprises, and better outcomes.
We understand:
- How deals are underwritten
- How agencies interpret their own rules
- How compliance failures actually happen
- How to structure projects that survive real-world conditions
This is not theory. It’s practical experience applied to real projects.