Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
$35.1M in Tax Credits Fund Ohio YMCA’s Conversion to Affordable Housing
Merchants Capital has secured $35.1 million in tax credit equity financing to transform a vacant YMCA building in Columbus into affordable housing known as Lofts at 40 Long. The project, developed by Woda Cooper Cos. Inc. and IMPACT Community Action, combines $18.5...
$66.5 Million in LIHTCs Awarded to Support Affordable Housing Construction Across Pennsylvania
The Pennsylvania Housing Finance Agency (PHFA) has awarded $66.5 million in low-income housing tax credits to support 41 new developments totaling 1,946 rental units across the state. The funding will create affordable multifamily homes for working families, seniors,...
New Jersey Launches State Tax Credit Subsidy Program to Boost Affordable and Workforce Housing
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) has launched the State Tax Credit Subsidy (STCS) Program to attract private investment and expand workforce and affordable housing across the state. Half of the STCS Program Fund will go toward workforce...
Legal Clash Brews Between Chelan Douglas Port and County Over $103.6M TIF Plan
The Chelan Douglas Regional Port Authority plans to sue Chelan County over its six-month moratorium blocking a proposed Tax Increment Financing District (TIF) in Malaga. The Port questions the County's authority authority by halting the TIF, which would include 3,326...
Bloomington, Illinois Approves TIF Deal for $4.25M Historic Downtown Restoration
Bloomington’s City Council has approved a deal allowing FMB Holdings Inc. to restore two long-vacant historic buildings downtown with the help of tax increment financing. The $4.25 million project will bring new commercial space and four to six apartments to the 200...
$100M LIHTC Fund to Deliver 434 Affordable Units
Berkadia has closed a $100 million Low-Income Housing Tax Credit fund to support affordable housing across five states. The Berkadia Housing Partnership XV 2025 will finance four new construction and two rehabilitation projects, creating or preserving 434 units for...
Community Pushback in Rapid City, South Dakota Puts Libertyland TIF to the Test
A petition drive is underway in Rapid City to let voters decide whether to approve tax breaks for the proposed $125 million Libertyland USA theme park. The move comes after the City Council reapproved the Libertyland and Catalyst District Tax Increment Financing...
Federal Law Eases Path to 4% LIHTC for Developers
A new federal law slashing the 50% Private Activity Bonds financing requirement for 4% Low-Income Housing Tax Credits to 25% could unlock thousands of affordable housing units in California. The move could free up billions in bond cap and double the number of projects...
Enterprise Raises $180.5 Million for New LIHTC Fund
Enterprise Community Partners has closed its latest low-income housing tax credit fund, raising $180.5 million to create or preserve 1,216 properties across nine states. Enterprise Housing Partners Fund XLVII will also generate more than 2,000 jobs and $318 million in...
Ohio Approves LIHTC Support for 10 Affordable Housing Projects
The Ohio Housing Finance Agency Board approved financing for 10 developments across the state, many of which received Low-Income Housing Tax Credit (LIHTC) to support affordability. The projects range from new assisted living communities to rehabilitated apartments,...
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