Tax credits to help rebuild Miss. coast

Published 5:31 pm Wednesday, February 21, 2007

The Mississippi Home Corporation has awarded $19 million in housing tax credits that will help with construction of 1,400 housing units in south Mississippi.

Almost 2,000 units are planned overall and 70 percent of those will be located in Hurricane Katrina-damaged Harrison, Hancock and Jackson counties.

This latest round of tax credit allocations represents about 25 percent of the GO Zone credits authorized for 2007 and 2008, MHC officials said Monday.

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More than $60 million in tax credits have been awarded since Katrina.

Apartments and homes funded by tax credits will be available to families who earn 60 percent or less of the area median income.

The U.S. Department of Housing and Urban Development lists the median family income for Harrison, Hancock and Stone counties as $46,800 for fiscal year 2006. The median family income for Jackson and George counties is $48,300.

The MHC awarded $10 million in tax credits last August for 1,006 housing units in Hancock, Harrison, Jackson and Stone counties.

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