April 17, 2024 8:07 pm
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Pinal County faces low-income housing shortage

Phoenix

PhoenixBy 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.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.