BOISE - The Idaho Housing and Finance Association has invested more than $25 million in multifamily Housing Tax Credits for Idaho's families over the past 16 years, resulting in approximately $175 million in equity. IHFA began investing in multifamily housing in 1987 and has provided 154 developments and more than 6,500 rental units since that time. IHFA's multifamily housing investment is yet another example of the Association's commitment to Idaho families.

During 2002, IHFA allocated more than $2.3 million in Housing Tax Credits for multifamily developments, as nine developments were approved to begin construction, offering 532 total units for rent-including 480 units which were designated "affordable." The "affordable" designation signifies that rent cannot be more than 30 percent of the area's median monthly income for a family.

"Providing affordable housing for Idaho's families is a commitment we strive for on an ongoing basis," said IHFA's Vice President of Real Estate Lending Bob Reed. "Home ownership is a major goal for most Idahoans, and for many others the need for affordable rental housing becomes just as important. Tax credits help to provide this type of housing for those who are unable to achieve home ownership at this time."

A current list of multifamily financing developments can be found on IHFA's Web site at www.ihfa.org/multifamily.asp.