Renewable Energy Tax Credit News Briefs – February 2019

The Solar Energy Industries Association (SEIA) issued a statement Dec. 19, 2018, following the passage of a landmark bill in Washington, D.C. The Clean Energy D.C. Omnibus Act of 2018 will move the district to 100 percent renewable electricity by 2032. Abigail Ross Hopper, SEIA’s president and CEO, said in a press release that it’s noteworthy that this bill helps ensure solar energy is accessible to all residents in Washington, D.C., including low-income residents, which is a priority for SEIA.

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Hunt Capital Partners announced Dec. 17, 2018, the closing of $8.8 million in federal low-income housing tax credit and federal solar tax credit equity for the new construction of the Dat-naa-svt development. The development is located by the Tolowa Dee-ni’ Nation in Smith River, Calif. Dat-naa-svt will provide 21 low-income rental housing apartments and will include one-, two-, three- and four-bedroom, single-family houses set aside for families earning up to 30, 40, 50 and 60 percent of the area median income. Also included will be picnic areas, a playground and a community building and business center. There will also be supportive services for tenants to access education, secure employment, secure benefits, gain skills and improve health and wellness. Development cost will total $12.9 million. Hunt Capital Partners plans to facilitate the investment of the tax credit equity through its multi-investor fund, Hunt Capital Partners Tax Credit Fund 31. The Tolowa Dee-ni’ Nation also provided $4.1 million in construction-to-permanent financing. Construction is expected to be completed by June 2020.

Journal Category:

Renewable Energy Tax Credits

Authors:

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