| Deckard Realty
& Development Company is highly involved in using the Low Income Housing
Tax Credit to develop rental housing for low income persons. The
Tax Credit is now the largest production and incentive program
funded by the federal government for new construction and
rehabilitation of low income housing.
The Tax Credit program is a housing program
contained in Section 42 of the Tax Code and is administered by the
U.S. Department of the Treasury and its Internal Revenue Service
rather than by the U.S. Department of Housing and Urban
Development. In addition, Congress has created a special system
for allocating these credits in which an agency in each state,
usually the State Housing Finance Agency, decides which projects
will receive credits each year.
Currently, Deckard Realty and Development
Co. has
developed tax credit properties in Bloomington, Gosport, and New
Castle, Indiana. In 2003, the company received a tax credit award for a development in
Shelbyville, Indiana.
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