Arizona Department of Housing Allocates Over $22 Million to Boost Affordable Housing Projects

The Arizona Department of Housing recently announced a significant boon to affordable housing efforts within the state. According to an information bulletin, published on June 3, ADOH has earmarked a fresh round of funding allocations under Federal Low Income Housing Tax Credit (LIHTC) and State Tax Credit (STC). The initiative reserves $22,710,028 in federal tax credits for the creation and provisioning of 679 units across ten projects, alongside $1,943,050 in state tax credits for an additional two projects totaling 120 units. This allocation represents a substantial move toward addressing the affordable housing shortage across Arizona's diverse communities.

For those keen on the specifics, the detailed information regarding the awarded projects is up for public view. The 9% Federal LIHTC Reservation List can be accessed through the ADOH website. Similarly, insights into the State Tax Credit Reservation List are also available, providing transparency on the allocation of funds for the April 2024 STC Reservation List. For residents, advocates, and developers, this isn't just a list—it's a map of where and how the landscape of affordable housing in Arizona may shift in the coming years.

The department has already set sights on the future—specifically, the 2025 QAP (Qualified Allocation Plan). A QAP Focus Group is scheduled to convene at ADOH’s Annual Housing Forum on August 23, 2024. Stakeholder outreach is crucial, and ADOH is gearing up this summer to gather insights and input that will shape the next QAP—an important document that will guide the selection process for future funding rounds.

Such planning sessions are key to fine-tuning the strategies and policies affecting the availability of affordable housing in Arizona. In striding forward, ADOH is sending an unequivocal signal about its commitment to addressing the housing needs of low-income residents. Further details about the upcoming 2025 QAP Focus Group will be shared in due course, with ADOH promising more information to come.