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Asset Management

Housing Tax Credit

The Low Income Housing Tax Credit Program (LIHTC) provides federal income tax credits to individuals or organizations that develop affordable housing through either new construction or acquisition and rehabilitation. In order to receive tax credits, a developer must set aside and rent restrict a number of units for occupancy for households below 60 percent of area median income. These units must remain affordable for a minimum of 30 years.

MFA has been a state allocating agency for the LIHTC program since 1997. Members of the Asset Management Department partner with property owners and agents to ensure long-term compliance and preservation of LIHTC properties.

If you are a LIHTC program participant, your partnership with the Asset Management Department will continue throughout the program affordability period and will involve periodic compliance monitoring visits, physical inspections, online resident data collection, annual certifications and other asset management functions.

Please consider us a valuable resource and be sure to contact our department staff should you have any questions. Important information about the LIHTC program and resources for property owners and agents can be downloaded from the links listed below.