The Arkansas Development Finance Authority recently announced its intent to utilize 2010 Exchange funds as additional gap financing for 2010 tax credit applicants with a substantial investor purchasing the credits for $.65 or more. ADFA has determined that no minimum price per credit will be set as a defining element of a “substantial investor.” ADFA will determine a reasonable minimum price per credit based on review of submitted applications. If an application uses pricing below this determined minimum, the application will not be considered for Exchange funds. Read More…