LITTLE ROCK, Ark. (KNWA/KFTA) — The Arkansas Development Finance Authority (ADFA) announced that the state received more than $13 million from the 9% Low Income Housing Tax Credits (LIHTC) program, which will be used to create affordable housing units in the state.
The agency said in a news release that the awards were approved by ADFA’s board of directors following a competitive application process administered by ADFA’s Tax Credit Division.
The ADFA mentioned that tax credits are claimed annually over 10 years, meaning this year’s $13.3 million award represented a $133 million total investment…