The city is tweaking the way it distributes tax-exempt bonds issued through the 80-20 program, which is designed to incentivize affordable housing development. Due to the number of projects that want to apply for the program, the state is supposed to have begun a new policy this month of spreading the subsidies out in smaller portions over a larger number of projects. The change will, according to the acting HDC president, allow them to "preserve our private activity volume cap and the accompanying low-income housing tax credits to apply to our affordable housing projects." [Crain's; previously]
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