Public Hearing on Statewide Affordable Housing Plans for 2000 Friday (Oct. 15) in Boise

BOISE - The affordable housing community and all developers interested in building multifamily housing are encouraged to attend a public hearing on proposed amendments to Idaho’s Low-Income Housing Tax Credit Allocation Plan for 2000, the Idaho Housing and Finance Association announced. The hearing will be held Friday (October 15) at 9 a.m. in the first floor conference room at IHFA’s Boise office, 565 W. Myrtle Street.

The Allocation Plan governs Idaho’s competitive Housing Tax Credit allocation process and is updated each year. Public input assists IHFA—the state’s administrator of Housing Tax Credits—in assessing the plan’s effectiveness in meeting housing needs. It also helps maintain a community focus on affordable housing issues throughout the state. The plans and comments will be forwarded to Governor Kempthorne as part of the approval process.

"Idaho receives millions of federal dollars from the Housing Tax Credit program—funds that are vital to the multifamily housing industry," said Gerald Hunter, IHFA president and executive director. "It’s also one of the last federal programs available to help developers finance affordable housing."

Idaho’s Housing Tax Credit helps defray construction and rehabilitation costs on apartments, placing rents within reach of lower-income families. The Housing Tax Credit is a U.S. Department of Treasury program that provides a dollar-for-dollar federal tax liability reduction to owners of Housing Tax Credit developments. Housing Tax Credits allocated in 1999 helped build 377 new affordable housing units, 401 of these are affordable to lower-income households.

Copies of the amended plan are available by calling 208-331-4769. Affordable housing developers will be able to comment on the proposed amendments at the public hearing in person or via telephone by calling 208-331-4880 . Those unable to attend are encouraged to submit comments by October 15 to: IHFA Multifamily Finance Department, PO Box 7899, Boise, ID 83707-1899.