A McGehee housing complex was among 13 agencies awarded federal housing tax credits Aug. 17, according to a press release from the Arkansas Development Finance Authority.
The ADFA Board of Directors awarded credits to affordable rental projects totaling more than $70 million in equity to build and preserve 464 affordable housing units in Desha, Benton, Crawford, Crittenden, Faulkner, Garland, Mississippi, Pulaski and Washington counties.
In McGehee, the tax credit award of $357,725 was approved for Valley Apartments for acquisition/rehabilitation of 27 affordable units for families. The developer is Leisure Homes Corp., according to the press release.