‘Tis the season: Celebrating LIHTC awards

‘Tis the season to celebrate! Three clients recently received the happy news that their projects were awarded an allocation of Low Income Housing Tax Credits (LIHTCs). Congratulations to Washoe Housing Authority, Turtle Mountain Housing Authority, and Mille Lacs Corporate Ventures.

Washoe Housing Authority’s first project, Woodfords LIHTC, will use its allocation of $558,093 in federal tax credits and $1,717,620 in state tax credits from the California Tax Credit Allocation Commission (CTCAC) to acquire and rehabilitate 24 existing single-family units and construct one community building in Markleeville, CA. Families living in the homes will also have the added opportunity to use services provided by the housing authority and tribe, including adult education and wellness classes and after-school programs for children. Find additional details about the project here.

Turtle Mountain Housing Authority’s latest LIHTC project, Turtle Mountain Housing Authority #10, is part of a multi-phase effort that will demolish severely deteriorated units and construct 24 new townhouse-style units in Belcourt, N.D. Once completed, a portion of the homes will be reserved for families with children and tribal members with physical disabilities. The project was awarded an allocation of $345,555 from the North Dakota Housing Finance Agency. More details on this project can be found here.

Mille Lacs Corporate Ventures’ project, named Lady Luck Estates, received a LIHTC allocation of $738,571 from Minnesota Housing Finance Agency to build 28 new townhouse-style units in Hinckley, MN. In addition to serving income-qualified families, four units will provide housing for previously homeless families. The development is also closely located to important community resources. Families will be in walking distance to public transportation, health services, employment options, restaurants and a movie theatre. Learn more about Lady Luck Estates on our project page and blog.