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Tuesday, July 22, 2008 - 7:30AM

The board of commissioners of the Louisiana Housing Finance Agency (LHFA) approved the implementation of a "Lightning Round" to allocate returned Gulf Opportunity (GO) Zone and per capita low-income housing tax credits (LIHTC) currently available in calendar year 2008. LHFA says there are approximately $11.1 million in GO Zone credits available for projects located in the GO Zone and $6 million in per capita LIHTCs available that will be awarded only to projects outside of the GO Zone. Any additional credits returned or recaptured before the end of calendar year 2008 will be offered to applicants participating in the Lightning Round. Additionally, the Office of Community Development and the Louisiana Recovery Authority have indicated that as much as $90 million in Community Development Block Grant (CDBG) funds may be available to fund financing gaps for projects located in the GO Zone. 

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