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HFA Executive Provides a Warning

AFFORDABLE HOUSING FINANCE • November/December 2009

THE LONGER the short-term fixes to the struggling low-income housing tax credit (LIHTC) market are around, the long-term problems won’t get addressed, according to one state housing agency executive.

Deborah VanAmerongen, commissioner of the New York State Division of Housing and Community Renewal, raised this concern at AHF Live: The Affordable Housing Developers’ Summit in October in Chicago.

She made that point that it would be easier for lawmakers, who are busy with other issues, to just extend the temporary tax credit exchange program, which was created under the American Recovery and Reinvestment Act, rather than work on permanent solutions.

At the same time, several industry leaders urged developers to lobby their Congress members to support a package of proposals aimed at stimulating LIHTC investment.

For more about the latest proposal, visit www.rentalhousingaction.org.