The Arizona Depart of Housing has created the State Housing Fund to combine federal resources with state resources. Learn more about programs available for building affordable rental housing in Arizona in this presentation.

1. IN MARICOPA COUNTY AND IN ARIZONA?

3. Low Income Housing Tax Credits
New Market Tax Credits
Historic Tax Credits

4. •Low Income Housing Tax Credits (LIHTC) reduce tax liability dollar-for-dollar
•A property must meet specific criteria to qualify including having a certain percentage of rental units set aside for individuals below a set income level.
•Individual states can determine the specific criteria for awarding tax credits to developers.
1. http://portal.hud.gov/hudportal/HUD?src=/program_offices/comm_planning/affordablehousing/training/web/lihtc/basics

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New Market Tax Credits were “established by Congress in 2000 to spur new or increasedinvestments into operating businesses and real estate projects located in low-incomecommunities.” Investors receive a tax credit if they make investments in Community Development Entities. Credits can be valued at up to 39 percent of the original amount invested and may be claimed over a seven year period of time. The purpose is to attract investors to put money into projects in low income communities.
1. http://www.cdfifund.gov/what_we_do/programs_id.asp?programID=5

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Historic tax credits are available through The Federal Historic Preservation Tax Incentives program. The goal of the program is to encourage “private sector investment in the rehabilitation and re-use of historic buildings.
A 20 percent tax credit is available to rehabilitate structures designated by the Secretary of Interior to be “certified historic structures.”
A 10 percent tax credit is available to rehabilitate non-historic buildings that were placed into service prior to 1936. The rehabilitated building must not be used for a private residential use and certain criteria must be met.
1.http://www.nps.gov/tps/tax-incentives.htm