Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
OCCH Closes $299.5M LIHTC Fund to Support 2,033 Affordable Homes
Ohio Capital Corporation for Housing has closed a $299.5 million LIHTC fund that will support the creation or preservation of 2,033 affordable homes across seven states: Georgia, Illinois, Kentucky, Michigan, Ohio, Tennessee, and West Virginia. Backed by 20 returning...
Chicago OKs $13.24M TIF for Affordable Senior Housing Project at Former Pioneer Arcade
Chicago's Community Development Commission has recently approved $13.24 million in TIF funding for a $36 million affordable senior housing project at 1539 N. Pulaski, led by the Hispanic Housing Development Corporation and designed by UrbanWorks. The development will...
New York Drives Record 154 Historic Rehab Projects, Tops U.S. in Use of HTC
New York led the nation in 2024 for use of historic rehabilitation tax credits, with 154 projects completed, underway, or in planning, according to a recent data released by the National Park Service. Governor Kathy Hochul said the effort generated $2.8 billion in...
Historic Preservation Gains Momentum Under Ohio’s Budget Signed Into Law
Ohio’s new state budget, recently signed into law, increases funding for the Historic Preservation Tax Credit program to $75 million and boosts credit percentage to 35% for rehabilitation projects in smaller communities, making it easier and more affordable to...
Ohio Awards $4M Million in Historic Tax Credits for Building Revivals in Canton and Massillon
Two historic buildings in Stark County are set for major transformations after receiving nearly $4 million in Ohio Historic Preservation Tax Credit awards. Canton’s former Home Savings and Loan Co. building will receive $3.15 million for a $16.7 million redevelopment...
Walker & Dunlop Closes $240M LIHTC Fund to Build 1,700 Affordable Units
Walker & Dunlop has closed Fund 124, a $240 million low-income housing tax credit (LIHTC) fund that will support the development of 1,701 affordable housing units across 15 U.S. markets. Nearly half of the units will include subsidized project-based Section 8...
Arizona Budget Ends LIHTC Program
Arizona’s new $17.6 billion budget includes no new funding for the Low-Income Housing Tax Credit (LIHTC) program, effectively ending the state’s initiative and disappointing housing advocates. Despite Gov. Katie Hobbs’ push for an expansion, the program will sunset...
Atlanta and Cincinnati Community Projects Receive $16 Million in NMTCs from Fifth Third
Fifth Third has awarded $16 million in New Markets Tax Credits (NMTCs) to support three community-focused facilities in Atlanta and Cincinnati, aiming to revitalize historically disinvested neighborhoods. The investment, part of a $50 million federal NMTC allocation,...
$208 Million LIHTC Fund to Revitalize Affordable Housing Across 11 States
PNC Multifamily Capital closed its LIHTC Fund 98 with over $208 million in investor commitments to support the development and rehabilitation of more than 2,000 affordable housing units across 11 states. Backed by PNC and seven other financial and insurance...
Wisconsin Senate Approves TIF Exemption for Port Washington Data Center
Wisconsin lawmakers approved a TIF exemption for a new data center in Port Washington, bypassing the state’s 12% property cap for TIF districts. The move allows tax revenues from the development to be reinvested on the property rather than going to the local tax base....
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