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From FOX San Antonio

The San Antonio City Council has thrown its support behind four proposed affordable housing developments in various areas of the city. To support the building of these communities, the Council approved $43 million in bond money that will be paid over a 20-30 year time period. Developers will not pay property taxes while bond money is being repaid.

The Council’s decision is part of the housing tax credit application process that will go a long way in helping developers get the necessary points in the Housing Tax Credit application scoring process that would award tax credits to developers to reduce the cost of building the community so that the savings may be passed on to renters through lower rent payments.

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