The Woodfords LIHTC project received a 2015 allocation of $558,093 in federal tax credits and $1,717,620 in state tax credits from the California Tax Credit Allocation Commission (CTCAC). WHA also used federal energy credits to help fund the project.
WHA acquired and rehabbed 24 existing single-family units and also constructed one 2,100-square-foot community building on the Washoe Reservation in Markleeville, CA.
The project consists of:
- 1 home with two bedrooms
- 14 homes with three bedrooms
- 4 homes with four bedrooms
- and 5 homes with five bedrooms
This is the Washoe Housing Authority’s (WHA) first LIHTC project; however, WHA has extensive experience developing and managing affordable housing projects with a portfolio of more than 250 affordable housing units developed.
The Woodfords LIHTC project’s units are designed to meet CTCAC’s mandatory design guidelines, and will incorporate several green building techniques.
WHA and the Washoe Tribe have agreed to provide services to the tenants, including adult education and wellness classes and after-school programs for children.
Hunt Capital Partners is the investor for this project.
Related news:
At a Glance
- Native Organization: Washoe Housing Authority
- Asset Management Client
- Date Closed with Investor: 2016
- Date Completed: 2017
- Development Type: Rehab
- Project Status: Complete
- Total Homes: 24
- Total Project Cost: $9,695,611
- Total Investor Equity: $6,098,323
