The U.S. Department of the Treasury’s Community Development Financial Institution Fund (CDFI) announced $5 billion in New Market Tax Credits.
Out of 208 applicants, Treasury awarded credits to 100 community development entities. The awardees include more than a dozen members of National Housing & Rehabilitation Association. NH&RA congratulates the recipients and wishes them success with all their plans.
Details about the awardees and the CDFI process can be found here.
Merchants Capital announced that it has expanded its executive leadership team with the promotion of Chris Messmann to executive vice president.
Woda Cooper Companies and Cherry Health announced that Michigan State Housing Development Authority has awarded housing tax credits to Shea Ravines, a new $18.2 million 56-unit affordable housing community with 20 Permanent Supportive Housing (PSH) units in Wyoming, MI.
The Community Builders was joined by Mayor Jim Cahill, New Brunswick Housing Authority (NBHA), Middlesex County and the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to celebrate the groundbreaking for Stirlingside Residences, a 53-unit affordable housing community for families in New Brunswick, NJ.
Hunt Capital Partners (HCP) announced the transfer of ownership of Hunter’s Landing and Quail Ridge at Mallard Pointe, a 74-unit affordable housing development in Arab, AL, to Huntsville-based nonprofit Neighborhood Concepts, Inc.