MHC awards $8M in Housing Tax Credits

by Wally Northway

Published: August 17,2010

Tags: housing, real estate, tax, tax credits

ACROSS MISSISSIPPI — The Mississippi Home Corporation (MHC) has awarded over $8 million in Housing Tax Credits (HTC) to developers for the construction and rehabilitation of 589 units statewide.

The MHC said the developments will create over 500 jobs, which will provide $12.89 million in constructions wages and produce $67.78 million in related spending in their communities.

Housing tax credits are awarded on a competitive basis. This year, MHC received 33 applications for over $17 million in credits. Applications are selected based on a number of scoring items such as amenities for tenants, environmentally friendly building methods and for providing community services.

Investment in the housing tax credit program provides various types of housing, from single family lease-purchase, to rehabilitation of older housing, to new multi-family developments.

Developments funded with tax credits from the 2010 cycle are located in Jackson, Natchez, Columbus, New Augusta, Hattiesburg, Laurel and Starkville.

A full list of developments and applicants can be found at MHC’s website, www.mshomecorp.com.

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