February 4, 2021

Overview of program updates and initiatives discussed and approved during the
January 2021 Board of Directors Meeting.

housing development  |  homeownershiP  |  energy assistanCE  |  homelessness solutions  |  MORE


LHC's Board of Directors approved $16 million to develop 769 affordable rental units across five Louisiana parishes.This multi-million dollar investment represents a combination of LHC's Low-Income Housing Tax Credits (LIHTC) and Multi-family Revenue Bonds (MRBs) and Community Development Block Grant (CDBG) funds administered by the State of Louisiana, Office Community Development.

The approved developments represent a mix of new construction and preservation projects that aim to assist working families, households with children, seniors, and people with disabilities. 

The Multi-family Mortgage Revenue Bond program uses tax-exempt bonds to provide below market-rate loans to developers who set aside a certain percentage of their apartment units for low income families. The bonds are leveraged with 10-year 4 percent Low-Income Housing Tax Credits (LIHTC).

The following projects received final approval:

RNDC Baton Rouge - East Baton Rouge Parish
$16 Million, 110 units

Changes to Plaquemine Parish Property Approved

The Board approved a resolution authorizing a change in the name, site, and property description of Glen Oaks Apartments formerly known as St. Claire Estates, located in Plaquemines Parish.

The move authorizes the Corporation's staff and counsel to prepare the forms of such documents and agreements as may be necessary to allocate credits to such facilities; and providing for other matters in connection with the foregoing.

Board Approves LIHTC Reprocess 

A resolution authorizing staff to reprocess the allowance of low-income housing credits for all Section 42(h)(4) tax-exempt bond financed projects scheduled to close
in the first quarter of calendar year 2021 and which are now subject to the minimum credit rate of not less than four percent (4%); and providing for other matters in
connection with the foregoing.

LHC Presents Single Family Department Overview

Brenda Evans, homeownership administrator for the Louisiana Housing Corporation provided an in-depth presentation regarding LHC's homeownership programs and services to the Board and members of the public.

Owning a home plays a vital role in helping to rebuild strong, robust communities across our state. In addition to its contributions toward building wealth and housing stability, it provides many social benefits, including financial literacy, improved health, and
less crime.

The LHC offers several homeownership programs that help low-to-moderate income homebuyers achieve their dream of owning a home. The programs offer a variety of 30-year, fixed-rate mortgages, some at below market interest rates.

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