I would like to congratulate the staff at Integrated Solutions, the economic development arm of the Assinboine and Sioux Tribes, who were awarded a 2013 Low Income Housing Tax Credit (LIHTC) allocation from the Montana Board of Housing (MBOH) last month.
Their project, the Fort Peck Sustainable Village, involves the construction of 20 units in the town of Poplar, MT, on the Fort Peck Indian Reservation. The project will consist of a mixture of three- and four-bedroom units targeting households with annual incomes of up to 40 percent, 50 percent and 60 percent of the Area Median Income.
Integrated Solutions received a tax credit allocation of $647,500, and the credits are expected to generate more than $5.1 million of investor equity for the project.
It was in December that I first started working with the Integrated Solutions team, and we submitted their LIHTC application to MBOH in mid-January. After three long months of waiting, it was great to hear our client received an award of credits. There were definitely a few fist pumps and high fives in the office!
Although the Fort Peck Sustainable Village project will be the third LIHTC project constructed on the Fort Peck Indian Reservation, this is the first LIHTC project developed by Integrated Solutions. The Fort Peck Housing Authority (FPHA), the developer and property manager for Fort Peck’s previous two tax credit projects, will serve as this project’s property manager. The photo above shows a house in FPHA’s second LIHTC project, which is nearing completion!
I am incredibly excited to continue working with this amazing team as we now take the next steps forward together to provide new homes to 20 deserving families.