A big THANK YOU to the Commonwealth Agency board members for choosing to support SNAP’s Housing Counseling and Home Ownership programs through a generous $15,000 donation from the development of the Palouse Trails apartments, a tax credit property on Spokane’s South Hill.
The Low Income Housing Tax Credit (LIHTC) program provides tax credits to developers to encourage the construction and rehabilitation of affordable multifamily housing for low to moderate-income renters. Locally, the LIHTC program is overseen by the Washington State Housing Finance Commission.
In order to take additional points in the low income housing tax credit program scoring criteria, Commonwealth Agency chooses to donate a portion of their development costs to further housing efforts in the community that they are building in. The Finance Commission must approve the donation. Development of a new rental project is are currently underway in Airway Heights and developers hope to break ground on a home-ownership townhome project there in the near future.
In 2016 SNAP saved 204 homes from foreclosure and helped 56 first-time homebuyers purchase a home. A big THANK YOU to the Commonwealth Agency board members for choosing to support SNAP’s Housing Counseling and Home Ownership programs through a generous $15,000 donation from the development of the Palouse Trails apartments, a tax credit property on Spokane’s South Hill.
The Low Income Housing Tax Credit (LIHTC) program provides tax credits to developers to encourage the construction and rehabilitation of affordable multifamily housing for low to moderate-income renters. Locally, the LIHTC program is overseen by the Washington State Housing Finance Commission.
In order to take additional points in the low income housing tax credit program scoring criteria, Commonwealth Agency chooses to donate a portion of their development costs to further housing efforts in the community that they are building in. The Finance Commission must approve the donation. Development of a new rental project is are currently underway in Airway Heights and developers hope to break ground on a home-ownership townhome project there in the near future.
In 2016 SNAP saved 204 homes from foreclosure and helped 56 first-time homebuyers purchase a home.