LHC’s Board of Directors approved $210 million to develop 731 affordable rental units across four Louisiana parishes.
This investment represents a combination of LHC’s Low-Income Housing Tax Credits (LIHTC) and Mortgage Revenue Bonds (MRBs).
The approved developments represent a mix of new construction projects that aim to assist working families, households with children, seniors, and people with disabilities.
The Multifamily Mortgage Revenue Bond program uses tax-exempt bonds to provide below-market-rate loans to developers who set aside a certain percentage of their apartment units for low-income families. The bonds are leveraged with private equity from 10-year 4 percent Low-Income Housing Tax Credits (LIHTC).
The LHC Board approved the following projects for final approval of bond sale:
The LHC Board approved the following project for new construction: