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
A federal court has ruled that a Massachusetts tribe must work with local authorities on Martha’s Vineyard in building its gambling hall.
Aquinnah residents are seen here during their annual meeting last June. Local officials and community members in the Massachusetts town have expressed opposition to a gambling venue on Martha’s Vineyard. (Image:
Vineyard Gazette)
The US First Circuit Court of Appeals ruled yesterday that the Wampanoag Tribe of Gay Head must adhere to local planning and zoning rules in Aquinnah. It’s the latest legal decision in a controversial case that dates back to 2013.
The Wampanoag Tribe of Gay Head is one of two federally recognized tribes in Massachusetts. The tribe’s sovereign land is located on the most western end of Martha’s Vineyard. The tribe argued that it did not have to obtain relevant permits from the town since it’s building on its own sovereign land.