The U.S. Department of the Treasury recently announced the next wave of funding awards under the Low-Income Housing Tax Credit (LIHTC) Exchange Program, to spur the development of affordable housing units in five states. Under the program, states have the opportunity to exchange a portion of their unutilized allocation of LIHTCs for direct cash assistance, which will then be provided to developers in support of affordable housing. Treasury has allocated nearly $135 million in funding:
- $72 million in Iowa;
- $4 million in Maine;
- $10 million in New Hampshire;
- $ 36 million in Rhode Island; and
- $11 million in Washington.
