By Jake Kincaid | Casa Grande Dispatch
There isn’t enough affordable housing in Pinal County to meet demand, and a large pool of that housing is at risk of disappearing.
Many projects were built under the Low Income Housing Tax Credit program during Pinal County’s development boom 20 years ago. The federal program offers federal tax credits to offer financial incentives for private investment in housing projects, which then must be kept affordable, or for low-income residents, for a period of 15 to 30 years, with the specifics varying from project to project. After the 15-year period, it is possible for projects to exit the program and charge market value rent. Whether they do so is up to the property owners.