In order to avoid the loss of approximately $1.03 million of returned GO Zone Credits at the end of calendar year 2011, the Louisiana Housing Finance Agency (LHFA) Board of Commissioners approved the following strategies to allocate GO Zone Credits. Priority will be given to Acquisition/Rehab Projects and Rehab Projects without existing low income tax credit allocations.
- GO Zone credits allocations to acquisition/rehab projects and rehab projects only, limited to projects currently without low income housing tax credit awards that are located in the GO Zone in which each building in the project is scheduled to be placed in service by December 31, 2011
- Increase GO Zone credit allocations to projects in the GO Zone, limited to projects with an existing GO Zone credit allocation in which a taxpayer’s organizational documents have existing credit adjusters or may be amended to evidence additional capital contributions in exchange for additional credit
Requests for GO Zone credits with supporting information should be submitted electronically to the attention of Ms. Marjorianna Willman, Tax Credit Manager at mwillman@lhfa.state.la.us by no later than close of business, 4:30 pm CST, Monday, October 3, 2011.
