News of Supportive Housing Fund’s PREA Award win covered in business media outlets across the US and around the world
Located in Wilmington, North Carolina, The Life in Lakeside Villas, will feature 429-units affordable housing complex set within a bucolic townhome community. For more information on the project, click here
The New Markets Tax Credit (NMTC) program was created in 2000 to stimulate economic growth in rural and low income communities by increasing the availability of private capital. In return, NMTC investors – most often banks – are provided with a tax credit equal to 39% of the total Qualified Equity Investment (QEI) over seven-year period. This tax credit provides anywhere from a 20% to a 25% subsidy to projects. The NMTC program was born of the Community Renewal Tax Relief Act and is under the United States Treasury Department.
