LANSING, Mich. (WLNS) — Michigan is announcing new investments this week, awarding federal 9% low-income housing tax credits to 10 new construction and rehabilitation rental housing projects in six communities.
“In Michigan, we are making record investments into housing so we can increase supply and lower costs for buyers and renters,” Michigan Gov. Gretchen Whitmer said in a news release sent to 6 News. “Today’s investments statewide will build and protect 484 homes while supporting more than 800 good-paying construction jobs.”
The tax credits are allocated by the Michigan State Housing Development Authority (MSHDA). Developers can claim credit against their tax liability annually for up to 10 years…