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> Affordable Housing Tax Credit
The Affordable Housing Tax Credit is a Missouri state tax credit authorized
by the MHDC to business firms that engage in providing affordable housing
assistance contributions to not for profit neighborhood organizations. These
contributions must be used in the construction or rehabilitation of
affordable housing units. The amount of tax credit shall not exceed 55% of
the value of the contribution.
All developments, including single family homes, will be subject to an
Affordability Period of 10 Years. Eligible tenantís income, for this
program, is limited to 50% of the AMI.
During this Affordability Period MHDC will inspect the property and tenant
files at least once every three (3) years, or more frequent if other MHDC
Programs are involved.
The following forms are required on all Affordable Housing Tax Credits:
ANNUAL Forms: To be sent to the St. Louis