Pima County, (May 8, 2025) – The Pima County Board of Supervisors at its May 6 meeting voted 4-1 to approve a gap funding agreement of $1 million for 84 rental units of multi-family housing in Tucson.
The Rincon Manor project, located near 12th Avenue and Valencia Road, will offer 63 one-bedroom/one-bath units and 21 two-bedroom/two-bath units. These rental homes will serve families at or below 60% of the area median income under the Low-Income Housing Tax Credit Program. The units will remain affordable for a minimum of 30 years.
Pima County’s gap funding provides a flexible funding option needed to demonstrate local financial support, which can be vital for Low Income Housing Tax Credits applications, said Sofia Blue, CWD’s affordable housing division manager. Developers can leverage this funding when going out to lenders and investors…