Comm. Jackson Announce $15 Million for 2022 Affordable Housing Developments in North Louisiana
Today Commissioner Steven Jackson announced that the Louisiana Housing Corporation (LHC) will provide $15 million in Low Income Housing Tax Credit (LIHTC) funding to create affordable housing opportunities in North Louisiana. Developments are awarded funding with either LHC's annual 9% LIHTC competitive funding or LHC's Multifamily Revenue Bond Program (MRB) which provide 4% tax credits on a non-competitive basis.
“Providing safe and affordable housing for families has always been one of my top priorities,” Commissioner Jackson said. “By investing in communities, we are creating hope and opportunity for many. As the chairman of LHC's Programs Committee, I have been an advocate to ensure we develop high quality and affordable housing throughout all parts of our state and particularly in the North Louisiana region that I am proud to represent. These funds will help build neighborhoods, support families, create jobs, and change lives.”
Since joining the LHC board in 2020, Commissioner Jackson has helped secure just over $54 million for North Louisiana (see document attached). Funds have incentivize public and private housing developers to build or repair over 1,500 housing units throughout North Louisiana region. Caddo Parish has receive the largest invest totaling $36.2 million to support 995 units. The LHC has also approved and funded $20 million in single family loans through its Homeownership Programs to create 113 first time homeowners in the region.
“Commissioner Jackson's dedication and participation is shown by our level of commitment to North Louisiana," ” said Anthony Marullo, III LHC Board Chairman. "When most board members have returned to their home or office after board meetings or committee meetings, Commissioner Jackson is usually still on the road making the 4 hour drive to and from Shreveport to ensure North Louisiana has an active voice at the table. That level of sacrifice is commendable."
The LHC's mission is to ensure that every Louisiana resident is granted an opportunity to obtain safe, affordable, energy-efficient housing. The Louisiana Housing Corporation is governed by a board of 13 members composed of the State Treasurer, two members appointed by the President of the Senate, two members appointed by the Speaker of the House, and 8 members appointed by the Governor. The board represents various housing sectors and the public.