Tax Credits May Be Used to Rehab Foreclosed Homes

Charles Horsey, Admin, NV Housing Div
John Foley, owner, Central States Dev
Mendy Elliott, former Dir, NV Dept of Business and Industry
Every year the Nevada housing administration awards millions in tax credits for the development of housing for low income renters. Nebraska Developer, John Foley says its time take those credits and put them toward rehabilitating foreclosed homes and renting them to low income resident. Foley says now and traditionally those tax credits have been used to build new low income housing but with the glut of empty homes in Las Vegas it's time to think differently. We'll talk with Foley and the head of the state housing division about the best way to award and use affordable housing tax credits.

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