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Tax Credits May Be Used to Rehab Foreclosed Homes
Tax Credits May Be Used to Rehab Foreclosed Homes

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AIR DATE: December 9, 2011

GUESTS
Charles Horsey, Admin, NV Housing Div
John Foley, owner, Central States Dev
Mendy Elliott, former Dir, NV Dept of Business and Industry
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Every year the Nevada housing administration awards millions in tax credits for the development of housing for low income renters. Nebraska Developer, John Foley says its time take those credits and put them toward rehabilitating foreclosed homes and renting them to low income resident. Foley says now and traditionally those tax credits have been used to build new low income housing but with the glut of empty homes in Las Vegas it's time to think differently. We'll talk with Foley and the head of the state housing division about the best way to award and use affordable housing tax credits.
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    COMMENTS:
    We want Nevada developers to build housing in Nevada and keep the money in our State. The program is capped and over subscribed. It is a competitive process. Let the free market work.
    Frank HawkinsDec 7, 2011 15:27:46 PM
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