Housing Commission to Hold Public Hearing on Tax Credits

Dec 1, 2017

Credit KBIA

The staff of the Missouri Housing Development Commission will hold a public hearing Friday in Columbia on a plan to end the state’s low-income housing tax credits.

The public hearing will be at 11 a.m. at the Stoney Creek Inn, 2601 S. Providence Road.

On Nov. 17, the commission narrowly approved a draft “Qualified Allocation Plan” that would not give out $140 million in state tax credits that for years have helped build and renovate low-income housing in Missouri.

In a news release, Gov. Eric Greitens said the commission’s rejection of state credits would save money for Missouri. 

“We took action. We zeroed out this failing program and saved tens of millions of dollars,” Greitens said. “No. More. Giveaways.”

The plan threatens funding for Columbia Housing Authority renovations on the Providence Walkway Apartments, East Park Avenue Apartments and Fisher Walkway Apartments.

The authority is renovating all 719 of its public housing apartments and townhomes and has received tax credits for 599 of them. It has already renovated 360 apartments and townhomes and built the Patriot Place apartments using the tax credits. 

Columbia Housing Authority CEO Phil Steinhaus, in a memo to “friends and supporters of affordable housing” that he shared with the media, said the tax credits save Missourians money in the long term by putting people in housing they wouldn’t be able to afford otherwise.

“Given local governments’ cost providing emergency care for feeble seniors and disabled people in dilapidated homes, many expenses are never incurred,” Steinhouse said. “And lives are saved when emergencies are spotted earlier in a large community with on-site support services.”

Steinhaus urged people to attend the hearing and encourage the commission to restore the state credits.