FEMA Approves LIHTCs to be Used in Areas in Mississippi Affected by Hurricane Katrina

Tuesday, September 27, 2005 - 7:30AM

In response to Hurricane Katrina, the Mississippi Home Corporation (MHC) staff received MHC board approval to allow low-income housing tax credit (LIHTC) developers who have previously received a tax credit allocation, but not yet begun construction on a previously approved site, to move those tax credits to a site located in certain areas as designated by the Federal Emergency Management Agency (FEMA). This approval is expected to allow LIHTC developers to more quickly get rental housing on the ground in these areas thus addressing some of the many critical housing needs. Click here for more information.

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