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Missouri Housing Development Commission restarts housing tax credit program

The commission has restarted the housing tax credit program dropped in 2017 following a unanimous vote from members on Friday, the commission also adopting some changes they say will provide more transparency about who gets the tax credits and why.

A Missouri housing tax credit program has been restarted by the Missouri Housing Development Commission following a vote Friday, making a return from its 2017 prohibition during former Gov. Eric Greitens’ time in office.

The program provides low-income housing tax credit for developers looking to build affordable housing, though the program has received mixed reviews and criticism from Missouri officials.

While state officials deem the program as inefficient, developers say current supply of affordable housing in Missouri falls behind its demand.

Around 100,000 people in the state of Missouri are on a waiting list for affordable housing, according to Executive Director of the Missouri Workforce Housing Association, Jeff Smith.

The three-year absence of the program was ended by a unanimous vote by commissioners, the vote including the adoption of some changes to the program that members say will provide more transparency and improve credit pricing.

Among those changes, a public scoring system for applicants and an accelerated redemption of tax credits.