In In The News

The Michigan State Housing Development Authority has awarded low-income housing tax credits to five projects in Detroit that would attract more than $100 million in new investment and create or preserve 536 housing units.

The 9 percent low-income housing tax credits (LIHTC) will subsidize the construction of 235 housing units in Detroit, 218 of which will be reserved for individuals earning between $16,050 and $42,800 annually, according to a news release from Mayor Mike Duggan’s office. The other 318 are already classified as affordable, but will have their comparatively low rents extended for another 45 years.

Read more in Crain’s Detroit Business

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