This week, the Missouri Housing Development Commission voted to reinstate Missouri’s state low-income housing tax credit. The move authorizes that state tax credits be provided to developers at a percentage of a similar federal housing credit as an incentive for developers to construct low-income housing for Missouri’s most needy. The state tax credit had become the target of budget cuts in recent years due to concerns about misuse of the credits. It is expected the renewed program will include reforms to prevent such abuses going forward. Missouri has a great need for affordable housing, especially among the disabled and extremely low-income population.
September 4, 2020 - 4:29pm