2010 Allocation Plans Encourage Green and Sustainable Development
Affordable housing projects have a much better chance of winning the competition for low-income housing tax credits if they employ green building and have sustainable siting and design. In many states, certification under a nationally recognized green building program is a threshold criterion.
Most states began requiring green or sustainable features or giving extra project selection points for such features in the last five years. Most allocation plans are revised every year or two.
Global Green conducts an annual survey and ranking of all 50 states' sustainable communities criteria for low-income housing tax credits--download the results of the 2009 survey.
Georgia eased its requirements slightly, though Georgia's green criteria are still strong. Some states such as Michigan are considering strengthening their criteria once the credit crisis is over.
A survey of selected tax credit allocating agencies shows that aggressive green building criteria remain in place despite a terrible year for raising equity by the sale of federal tax credits. Officials are still committed to green and sustainable programs, despite the continued pressure on the tax credit market.
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