A recent editorial in the New York Times calls on Congress to extend a tax credit program that’s aimed at encouraging housing development in Gulf Coast states impacted by Hurricanes Katrina and Rita. The Gulf Opportunity Zone (Go Zone) Low Income Housing Tax Credit program provided Louisiana, Mississippi and Alabama with $300 million in low-income tax credits that can be recouped on affordable housing projects ready for occupancy by the end of this year. Without an extension of the deadline, the Gulf Coast states could lose financing for more than 70 housing developments and 6,000 units of affordable housing.
Enterprise Community Partners, a national nonprofit focusing on community development and affordable housing, is urging its partners and other organizations who are interested to support a Congressional amendment currently being considered in the Senate to extend the tax credit in the Gulf.
The message from Enterprise is here. Read New York Times editorial here.
