Latest round of federal tax credit exchange funds to revive five more projects
BOSTON – November 24, 2009 – As part of the Patrick-Murray Administration’s Massachusetts Recovery Plan to secure the state’s economic future, Governor Deval Patrick today announced he will target an additional $30.4 million in recovery funds from the U.S. Treasury Department’s tax credit exchange program to revive five affordable housing developments stalled due to the lack of equity available in low-income housing tax credit markets. Today’s awards follow last month’s commitment from the administration to distribute $50.3 million from the Treasury program to create jobs and jumpstart 10 other projects across the state.
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