Carol Galante, Acting Assistant Secretary for Housing and Federal Housing Commissioner at HUD, challenged affordable housing industry participants to brainstorm creative ways to use low-income housing tax credits to restore foreclosed single-family homes during a housing conference sponsored by Ballard Spahr.

Ms. Galante acknowledged that scattered-site LIHTC projects can be a challenge. Some have already been done in which homes were restructured as rent-to-own properties.

“One thing is just encouraging state housing finance agencies and practitioners to wrap their heads around the complications of owning and managing scattered-site tax credit partnerships,” Ms. Galante said. “I’ve actually gone out and visited some on the ground in Cleveland and Cincinnati, and know that there are people out there doing it well. I think tax credits can be used in this context and, frankly, I’d like to see it happen more.”

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