Construction is now underway at San Carlos and Pascua Yaqui!

As of Nov. 1, 2012, three new tribal Low Income Housing Tax Credit (LIHTC) projects are now under construction in the state of Arizona after having closed with RBC Capital Markets in October. The San Carlos Housing Authority is constructing 31 new units, rehabilitating 50 units and constructing three new community centers across two projects in Bylas, Ariz. (San Carlos Homes V – 2011 LIHTC allocation) and in San Carlos, Ariz. (San Carlos Homes VI – 2012 LIHTC allocation) targeting households at the 40, 50 and 60 percent area median income (AMI) levels.

Further south, just outside of Tucson, the Pascua Yaqui Tribe is rehabilitating 40 homes as part of its recently funded 2012 LIHTC project. The Pascua Yaqui Tribe is also targeting households at the 40, 50 and 60 percent AMI levels.

For both San Carlos and Pascua Yaqui, these projects represent a continued effort to address the housing needs of the reservation community. Without the opportunity that the LIHTC program offers tribes, such large-scale projects would simply not be possible.

RBC’s total investment in the three projects exceeds $17.6 million. While RBC will expect to receive more than $2.1 million annually in credits over the next 10 years from the three projects, the benefits afforded to the individuals and families of the San Carlos Apache and Pascua Yaqui communities will long outlive the financial investment.

Travois would like to congratulate all team members involved in making these projects a reality. We look forward to visiting the completed homes in the coming months!

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