Freddie Mac recently announced it closed a Low-Income Housing Tax Credit fund with CAHEC and initiated several investments within the fund, totaling $50 million, for affordable rental housing in the Middle Appalachia area. This closing marks the sixth LIHTC fund that Freddie has closed since re-entering the market last year.

The $25 million affordable housing project was funded by Low Income Housing Tax Credits (LIHTC), Federal Home Loan Bank of San Francisco Affordable Housing Program (AHP), the Rio Nuevo Tax Increment Finance District and Pima County G.O. Bonds. The County's involvement also helped the project qualify for major tax credit funding from the state Department of Housing.

The Fresh Start Hutchinson Neighborhood Grocery Store would be financed/funded through a $2.6 million HUD loan, a $1.5 million CRA grant from the state, $3 million in New Market Tax Credits, and tax increment financing. The proposed 25,000 square foot grocery store would be built in what is considered to be a food desert.

Maryland legislation that establishes the Opportunity Zone (OZ) Enhancement program and extends the state historic tax credit (HTC) program through 2024 has been sent to Gov. Larry Hogan for his signature. S.B. 581 would make qualifying businesses in OZs eligible for six state tax credit incentives.

Annual solar installation has grown by over 1,600% since the ITC was enacted in 2006. The Solar Investment Tax Credit, or ITC, is available for solar panel systems on both residential and commercial properties. After this year, the tax credit drops to 26% for 2020 and 22% for projects that begin in 2021. After 2021, the residential credit will drop to zero.

Empire State Development has offered up to $4 million in performance-based Excelsior Tax Credits over ten years, which are directly tied to real job creation. To receive the full incentive, Netflix must create the 127 jobs by 2024 at its new executive production office and then retain those new jobs and their existing 32 office jobs for another five years.

Wisconsin Governor Tony Evers announced the award of $24,760,812 in Federal Housing Tax Credits and $7,369,167 in State Housing Tax Credits to fund housing developments across Wisconsin. The tax credits, which are distributed by the Wisconsin Housing and Economic Development Authority (WHEDA), will move forward 35 developments that will create 2,308 units of rental housing.

The Department of the Treasury just released its second round of proposed regulations on Opportunity Zones. These rules are designed to make compliance easier for opportunity fund investors.

CDFA // BNY Mellon Development Finance Webcast Series: Strategies to Support Your Local Venture Capital Ecosystem
Tuesday, May 14, 2019 - 1:00 PM Eastern

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The Department of the Treasury just released its second round of proposed regulations on Opportunity Zones.

The Hatchery Chicago is a non-profit food business incubator that enables local entrepreneurs to build and grow successful businesses. Accion, the area's largest microlender, and ICNC, which runs one of the largest business incubators in the country, are the joint venture partners and building owners. The City of Chicago and its affiliates provided a portion of the land, grants, tax increment financing, and new markets tax credits to help reduce the debt the project must carry.

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