A record 6,710 low- and moderate-income housing units were completed with the help of historic tax credits in fiscal 2009.
That’s nearly half of the 13,743 total housing units completed under the program last fiscal year.
Over the years, the number of affordable housing units being built has risen. In 1993, only 19 percent of the total 8,286 housing units completed that year with the credits were targeted as affordable housing, according to a new report by the National Park Service, which oversees the tax credit program.
About 5.5 percent of the projects also used low-income housing tax credits.
In fiscal 2009, 1,044 projects were approved, about a 15 percent drop from the prior year, perhaps a sign of the nationwide downturn in the real estate market.
Still, the estimated investment in rehabilitation projects was $4.6 billion, the second highest in program history.
Missouri topped all states for the most approved projects during the last fiscal year with 168, followed by Virginia, 147; North Carolina, 72; and Maryland, 55.