Maryland Nonprofit Uses Tax Credits, Credit Exchange Funds to Support Neighborhood Revitalization Efforts

摘要

Montgomery Housing Partnership, Inc. (MHP), a Maryland nonprofit developer, is using low-income housing tax credit and tax credit exchange program funds to support its neighborhood revitalization activities in Takoma Park, a Washington suburb.rnMHP used credit exchange funds for the acquisition and rehabilitation of the 21-unit, two-building Gilbert Highlands project and an allocation of 2008 9 percent tax credits to rehabilitate the eight-story Maple Towers Apartments, which had been vacant for three years. When the Maple Towers rehab is complete, 36 units will be available for low- and moderate-income households.