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Tax Credit Criteria Change- Halt Projects 2/22/2013
New Tax Credit requirements- released last week- has put a halt to several projects in Bridgeport- including one headed by the housing authority of Grant County, who planned to build a 30-unit low-income housing project this summer.
In WashingtonState, the Low Income Housing Tax Credit Program is one of the primary sources used to finance affordable housing – but the criteria to be eligible for the credit changed this year.
Bridgeport Mayor, Marilyn Lynn, says the new requirements are just too stiff for a rural area like Bridgeport.
The housing authority now has until April 15 to come up with a Plan B for funding to carry out the housing projet.
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