Baton Rouge, Jun 14, 2011 --
Louisiana Housing Finance Agency (LHFA) has established a set-aside of tax credits through its Low-Income Housing Tax Credit Program (LIHTC), for rural rental housing properties financed by USDA Rural Development. This set-aside will result in approximately $20 million to rehabilitate rural rental housing properties throughout the State. USDA Rural Development has been very successful in helping rural residents through the Multi-Family Housing program gain access to quality affordable housing.
"We are extremely proud that LHFA awarded Rural Development these funds. This has been a collaborative effort working with Governor Bobby Jindal, and Commissioner's of LHFA, Donald Vallee and Guy Williams. This is a great accomplishment for housing opportunities, creating jobs and stimulating economic activity," said Clarence W. Hawkins, State Director for USDA Rural Development in Louisiana. "Our rural communities are growing and the desire for suitable rental housing is needed in the community where the residents live and work. As we continue to build on the foundation of a new rural economy, these additional funds will allow our agency to offer decent, affordable and safe rental housing. I would like to thank all those who have worked the past several years to secure this allotment to help those who need it the most in rural Louisiana.
Rural Development has more than 40 programs that foster growth and economic stability in rural areas by providing affordable financing and technical assistance. Support is available for regional food systems, broadband and biofuel infrastructure, homeownership, business development and community needs. More information on USDA Rural Development is available on the web at http://www.rurdev.usda.gov/la. USDA is an equal opportunity provider, employer and lender.