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Commissioners discuss affordable-housing financing, IRS tax credits and potential tribal partnerships
Summary
Commissioners discussed financing options for affordable housing and the role of government, including tax-credit financing mechanisms and potential partnerships with the Cowlitz Tribe and local hospital; no formal action was taken.
Commissioners discussed recent information about affordable-housing financing, including a federal tax-credit mechanism that private developers and lenders use to raise capital for projects.
A commissioner who attended a Kelso City Council meeting said the Internal Revenue Service’s low-income housing tax credit program can be a significant source of capital: awarded tax credits can be packaged so that financial institutions bid to purchase them and then provide large up-front investment for a multi-year tax credit…
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