TUCSON, Ariz. (KGUN) — The Arizona Department of Housing (ADOH) has awarded its highest affording housing tax credit to date.
$30.1 million in federal 9% Low-Income Housing Tax Credits has been granted to 16 affordable housing projects, including seven in rural communities.
This new process reduced the burdensome regulatory framework for allocating these highly-coveted tax credits and has led to increased developer interest in building affordable housing in Arizona. The State Tax Credit program is fulfilling its goal to stimulate the construction of new affordable housing in our state.
ADOH says two rural communities, Yavapai County and Gila County, are the first projects to be awarded State Tax Credit funding.
Yavapai and Gila both get awarded $1 million.
Click here for the full list of all 16 housing projects.
Corey Salmon is a real-time editor and associate producer for KGUN 9. He was born in New York but has lived in Tucson for over 10 years. Share your story ideas and important issues with Corey by emailing firstname.lastname@example.org or by connecting on Instagram, LinkedIn, and Twitter.