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Heavy Requests for Louisiana LIHTCs; GO Zone Cited as Reason

Thursday, April 27, 2006 - 10:45AM

The Louisiana Housing Finance Agency (LHFA) received 232 applications seeking $230 million in low-income housing tax credits (LIHTCs) during the application round that closed April 17, according to BusinessReport.com. This overwhelming interest is attributed to the additional LIHTCs provided by Congress to LHFA as a result of the passage of the Gulf Opportunity Zone Act of 2005 and in response to hurricanes Katrina and Rita. The legislation raised Louisiana’s LIHTC ceiling for 2006, 2007 and 2008 to $18 per capita, giving LHFA $56,759,274 in LIHTC authority for each of those years. According to LHFA’s amended qualified allocation plan, the agency’s board will make LIHTC reservations for this round of applications on June 14.

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