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Developer outlines how low-income housing tax credit projects are financed and how Tucker can attract them
Summary
Tapestry Development’s John Toppin explained how the federal low-income housing tax credit program works, what local governments can do to score points in state allocations and the timeline and constraints for building tax-credit rental housing in Tucker.
John Toppin, a developer with Tapestry Development, gave the Tucker mayor and city council an overview of the low-income housing tax credit (LIHTC) program and steps local governments can take to attract projects on March 24, 2025.
Toppin told council that “the low income housing tax credits is a housing program embedded in the IRS tax code,” and that the Georgia Department of Community Affairs (DCA) administers the credits in Georgia through a Qualified Allocation Plan that awards points to applications that meet state priorities.
The program targets households at 60% of area median income, Toppin said, and projects that win credits typically require many layers of financing and take years from application to completion. “It takes 3 or 4 months of a lot of work to submit,” he said. He described the typical timetable: applications in spring, awards several months later, then 12–15 months to close and roughly 18 months for construction.…
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