KHRC APPROVES HOUSING TAX CREDITS FOR 17 DEVELOPMENT PROPERTIES

KHRC APPROVES HOUSING TAX CREDITS FOR 17 DEVELOPMENT PROPERTIES

TOPEKA, Kansas – June 11, 2014 – (RealEstateRama) — The Kansas Housing Resources Corporation (KHRC) approved 17 Kansas development properties to receive tax credits through the Low-Income Housing Tax Credit (LIHTC) program. These developments will construct or rehabilitate 800 units of affordable housing in 15 communities around the state.

“The developments approved this year continue KHRC’s commitment to serving working families, older Kansans and people with disabilities with a range of affordable housing opportunities,” said Fred Bentley, Director of Rental Development for KHRC. “This includes rehabilitation of existing units, conversion of historic buildings into housing and construction of new units, in several communities that are experiencing job growth.”

Kansas communities receiving 2014 Tax Credit commitments include:
Kansas City – 24 new units for families with a preference for veterans with disabilities
Hutchinson – 96 new units that replace a Section 8 property for families
Hiawatha – Rehabilitation of 48 units for seniors at a USDA property
Galena – 40 new units for families
Holton – 36 new units for seniors
McPherson – 45 new units for families
Wellington – 40 new units for families
Marysville – 48 new units for families
Parsons – Conversion of a historic downtown building into 35 units for seniors
Wichita – Rehabilitation of a closed assisted living facility into 22 units for seniors with a preference for veterans
Wichita – Rehabilitation of 176 units for families
Pratt – Conversion of an old hotel into 23 units for families
Wichita – 16 new units for people with disabilities
Great Bend – 48 new units for families
Gardner – 72 new units for families
Larned – 12 new units for seniors
Coffeyville – 18 new single family homes

KHRC administers the LIHTC program on behalf of the State of Kansas. The Corporation allocates credits based upon selection criteria and application ranking procedures set forth in KHRC’s housing allocation plan. In addition, KHRC monitors tax credit properties during the compliance period to ensure that rents and residents’ incomes do not exceed program limits, and that properties are well-maintained. KHRC has authority to allocate approximately $67 million of ten-year credits each year.

Kansas Housing Resources Corporation is a self-supporting, public corporation which serves as the primary administrator of federal housing programs for the State of Kansas. Our mission is to increase the availability of affordable, quality and accessible housing for low and moderate-income Kansans.

CONTACT:
Keri Renner

(785) 217-2012

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The Kansas Housing Resources Corporation (KHRC) was formed pursuant to K.S.A. 74-8904(v) per the Governor's Executive Reorganization Order (ERO) # 30.  KHRC is a subsidiary corporation of the Kansas Development Finance Authority. 

The Kansas Housing Resources Corporation mission is to enhance Kansas communities with housing opportunities. This goal is achieved through using a variety of strategies and approaches, including increasing homeownership opportunities, leveraging the construction of more affordable rental housing, preserving existing housing through rehabilitation, promoting energy efficiency improvements for owner-occupied and rental housing, providing affordable housing through rent assistance to low-income families and senior citizens, and creating housing opportunities for previously underserved persons and communities.

Contact:

Kansas Housing Resources Corporation
611 South Kansas Avenue, Suite 300
Topeka, Kansas 66603-3803
Phone: (785) 296-5865
Fax: (785) 296-8985

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