TREASURY ANNOUNCES SIXTH ROUND OF EXCHANGE PROGRAM FUNDS

Wednesday, August 26, 2009 - 8:00am

The Treasury Department today announced approximately $309 million in funds will be allocated through the low-income housing tax credit (LIHTC) exchange program created by the American Recovery and Reinvestment Act (Recovery Act) to spur the development of affordable housing units. The funds announced today include $34 million for Arizona; $16 million for Connecticut; $95 million for North Carolina; $3.6 million for North Dakota; $41 million for Pennsylvania; $118 million for South Carolina; and $1.4 million for Vermont. This is the sixth round in a series of awards based on a rolling application process.