South Carolina has joined seventeen other states by enacting a state based affordable housing program that mirrors the federal LIHTC. The goal is to add critically needed affordable housing to workforce and income restricted seniors.
Calling it the “Workforce and Senior Affordable Housing Act” and signed into law on May 14, 2020, the program will be administered with the intention of being as robust as other successful state based LIHTC plans.
Until the Act was passed, Georgia stood alone as having the only state-based low income tax credit plan in the Southeast.
More news to come as the office in Columbia is staffed up.
We are an underwriting surety agency specializing in P&P and other bonds for LIHTC (4% & 9% and state-based programs), Market Rate developers [HUD 221 (d) (4), etc.,] and GCs. We effortlessly guide our clients through the otherwise difficult approval maze with an innate understanding of how the surety companies think, and exactly what is needed for bond approval. Headquartered in Charleston, South Carolina, we are licensed in 50 states and represent clients nationwide. LIHTC Bonds Ltd Co is an affiliate of Carolina Indemnity Group.
