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Housing authority begins legal work to exit Garden Court tax-credit partnership
Summary
Commissioners were briefed on the process to exit the limited-partnership structure on Garden Court (Barton Court), a low-income housing tax-credit project, and on the obligations that may remain for future owners.
Staff told commissioners the housing authority has started the legal and negotiation steps needed to exit the limited-partner arrangement for Garden Court (referred to in discussion as Barton Court), a 40-unit tax-credit project where the authority is the managing member and Shelter Resources is the limited investor partner.
In low-income housing tax-credit (LIHTC) projects, investors typically exit the partnership after the…
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