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Novogradac Journal of Tax Credits recently featured District of Columbia Housing Enterprises President and Office of Capital Programs Director Merrick Malone in an article discussing building communities, in addition to affordable housing, in the district using New Markets Tax Credits.

DCHE is a subsidiary of the District of Columbia Housing Authority and has received $128 million in NMTC allocations since 2009 that have helped to fund educational, health, and cultural projects near DCHA neighborhoods.

(read it here)

According to the article, DCHE’s work with New Markets Tax Credits is complementary to the affordable housing development that the District of Columbia Housing Authority has been doing. A recent DCHE partnership with Bread for the City, Wells Fargo, and City First Bank to construct a state-of-the-art medical and social service facility in Southeast was highlighted in the article.

“What I like about this transaction is what it does for people and particularly our residents,” Malone said. “It provides health care, including vision and dental in a historically underserved community. That’s the most exciting thing. It brings sorely needed resources to the community that’s still underserved. This particular transaction will not only creates jobs, but bring much-needed community services.”

(read it here)

Last modified: 5/21/2019 2:46:38 PM