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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

New yorkUnited statesWarm springsKlutina lakeBritish columbiaCalifornia campState of alaskaCrow reservationTown of aquinnahChico rancheriaAdrianna shannonDepartment of interiorWarm springs police departmentRevenue serviceAffordable housing programAlaska native tribal health consortium