Thursday, April 15, 2021
AN IMPORTANT NEW OPTION FOR FINANCING AFFORDABLE HOUSING
The federal “9%” Housing Tax Credit (HTC) program, designed to finance up to 70% of qualified development costs, has for decades been the principal engine for the financing of low income housing in the United States. HTCs function like grants because the return to investors comes from the credits they take against their federal income tax liability over a ten-year period. Unfortunately, there is a limited supply of 9% HTCs and the allocation process, administered by state housing agencies, is highly competitive.
While some tribally-designated housing entities (TDHEs) have been successful in obtaining 9% HTCs, most have not. Demand for the 9% HTCs far outstrips supply and many states’ criteria give preference to urban developments, making it difficult for tribes to file successful applications. Tribes unable to access the 9% HTC program have incorrectly assumed that they have no op
By DANA HEDGPETH | The Washington Post | Published: April 12, 2021 OAK FLAT, Ariz. Just as his Apache ancestors have done for centuries, Wendsler Nosie the former chairman of the San Carlos Apache Tribe led a traditional ceremony on a mountaintop at Oak Flat, about 60 miles east of Phoenix, overlooking a landscape of basins covered in tall grasses, boulders and jagged cliffs. The tradition, called a sunrise ceremony, is a rite of passage for a teenage girl in which she goes through a series of rituals to recognize her transition to womanhood. The girl had collected plants from Oak Flat that have the spirit of Chic chil Bildagoteel, the name of the sacred spot in the Apache language. Plants from anywhere else cannot be used they don t have the spirit that resonates from Oak Flat. And the girl spoke to the spirit of Oak Flat, giving thanks for providing acorns, yucca, cedar and saguaro cactus that the tribe uses.
Native Americans desperately want to protect Oak Flat, a sacred site near Phoenix, from a mining operation. On Tuesday, a House Natural Resources subcommittee will hold a hearing on the future of the land, which sits on one of the largest untapped copper deposits in North America.
Rodney Ferguson stepping down as head of Potawatomi Hotel & Casino
Potawatomi tribe searching for his replacement
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Rodney Ferguson is resigning as general manager and chief executive of the
Potawatomi Hotel & Casino in Milwaukee to take another job in Virginia.
Ferguson’s last day with Potawatomi will be April, according to a news release.
He will be returning to his home state after accepting an opportunity to help develop and manage a new casino being undertaken by the Pamunkey Indian Tribe.
The Forest County Potawatomi Community is beginning a search for someone to take over as the next CEO and general manager. A spokesperson for the tribe declined to provide further details on the search.
Notable Minority Executives: Kip Ritchie biztimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biztimes.com Daily Mail and Mail on Sunday newspapers.