Rep. Welch: Lock in low-income housing tax credits - WCAX.COM Local Vermont News, Weather and Sports-

Rep. Welch: Lock in low-income housing tax credits

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Congressman Peter Welch wants to make Low-Income Housing Tax Credit more predictable.

The representative is backing efforts to help lock in rates and increase benefits for developers.

Welch says despite grid-lock in Congress and November's elections, he's confident the measure will become law.

“The public private partnership is the way you can get something done. It appeals to Republicans and Democrats in Congress, it's helping downtowns, it's using a market-based model. It's a partnership and this has got a real shot at passage,” said Rep. Welch.

Welch says the tax credit spurred 23-million dollars’ worth of affordable housing financing last year.

That includes work done at the Bobbin Mills Apartments in Burlington.

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