SAULT STE. MARIE, MI— The Sault Tribe Housing Authority has received $1.3 million in federal Low-Income Housing Tax Credits to create affordable rental units.
The development will create 36 permanent supportive housing units for households earning up to 30 percent of the Area Median Income. All units are expected to receive rental assistance through the Michigan State Housing Development Authority.
The project is expected to create at least 120 temporary jobs and two permanent positions.
The LIHTC program provides tax incentives on a competitive basis to developers who build or rehabilitate housing for low- and moderate-income households. The credits help reduce financing costs, making it possible to offer lower rents and maintain long-term affordability.
