Historic Buildings Rehabilitated With the Help of State Tax Credit in Pittsburgh, PA
The commonwealth of Pennsylvania announced tax credits for the owners of 27 historic buildings that are actively being restored and rehabilitated. Six of the buildings that will receive the credits are in Allegheny County. All of them are unique structures and their owners have some interesting plans for their futures.
Reps. Sherrill, Pascrell, Senator Ossoff Introduce RAISE the Roof Act
Representatives Mikie Sherill (NJ-11) and Bill Pascrell, Jr. (NJ-09) introduced the Revamping Appropriate Incentives for Solar Energy for (RAISE) the Roof Act, which clarifies and expands the solar investment tax credit (ITC) to include integrated solar roofs. This move would maximize the positive climate and economic impacts of the next generation of solar energy technology.
Alliant Capital Announces Closing of $160M Tax Credit Fund
Alliant Capital is pleased to announce the closing of Fund 107, a $160 million low-income housing tax credit fund that will facilitate the creation and preservation of 14 properties, containing a total of nearly 1,300 affordable housing units across the country. Among those affordable housing units, over 330 will be senior housing, and nearly half - 595 - will be newly constructed units spread across eight properties.
Sens. Ron Wyden, Sherrod Brown Introduce Bill to Lower Cost of Rent for Workers and Families
The Renters Tax Credit Act of 2021 would establish a new renters tax credit to make housing more affordable for low-income households. These households, which include many low-wage workers, seniors, and people with disabilities living on low, fixed incomes, are more likely than other households to pay high shares of their income for housing and face a greater risk of eviction and homelessness.
How Georgia Economic Developers Help Create Jobs, Incentives to Bring Major Employers
Georgia is regularly touted as being the No. 1 state for business in the country, although there is some disagreement on this. Beating out competitors for major industrial projects is only one part of economic growth in Georgia, but it is one that brings in potentially thousands of jobs at a time and can include significant investments from local governments.
Enterprise Community Partners Closes $235.8M LIHTC Fund
Enterprise Community Partners has announced the closing of a $235.8 million low-income housing tax credit fund that will help create or preserve 2,529 affordable homes in 19 properties. The developments are in 14 states—Alabama, California, Colorado, Florida, Illinois, Kentucky, Massachusetts, Minnesota, Montana, New York, North Carolina, Pennsylvania, Washington, and Wisconsin.
Governor Pritzker of Illinois Signs New Legislation Expanding Affordable Housing
Gov. JB Pritzker signed House Bill 2621 into law, creating new financing programs and tax incentives to support the creation and preservation of affordable housing in communities across Illinois. The legislation includes several provisions aimed at reducing the shortage of affordable housing and builds on efforts to support housing stability in areas disproportionately affected by COVID-19.
Ohio Renews 10% Income Tax Credit for Opportunity Zone Investments
Ohio Governor Mike DeWine signed into law a state budget that renews funding for the Ohio OZ income tax credit for an additional two-year term. In 2020, Ohio taxpayers saved $120 million in income tax by investing in 73 opportunity zone projects throughout Ohio.
Supermarket Tax Credit Act Introduced to Address Food Deserts
The Supermarket Tax Credit for Underserved Areas Act was introduced in the U.S. House. The bipartisan legislation would incentivize the opening of a grocery store in a food desert, and create a tax credit for selling fresh fruit and vegetables. It would increase the work opportunity tax credit for these grocery stores hiring local residents, veterans, disadvantaged youth, and other workers with barriers to employment.