Delaware State Housing Authority (DSHA) has just released the 2015 Low-Income Housing Tax Credit (LIHTC) preliminary rankings for the competitive 9% applications.
Three projects are preliminarily ranked to receive credits totaling $2,491,923:
- Our Lady of Grace Apartments on East Chestnut Hill Road in Newark, for new construction of 60 family apartments. Tax credit request: $774,946
- Marydale Retirement Village on Jeandell Drive in Newark, for the preservation of 108 dwellings for seniors. Tax credit request: $886,448
- Whatcoat Village Apartments on Whatcoat Drive in Dover, for the preservation, acquisition and rehabilitation of 78 family apartments. Tax credit request: $830,529
It is unfortunate that there’s only enough funding to support three of these projects, when five other affordable housing projects around the state – each of which would benefit their communities – are ready to move forward, but cannot.
Two other Wilmington projects that applied for 4% LIHTCs are still under review.