Arizona is facing a severe housing shortage, and the time is now for business leaders to rally around proven solutions that address it.Central to this effort is the State Low-Income Housing Tax Credit (LIHTC) program, an essential tool in creating affordable housing in Arizona since its establishment in 2021.This program mirrors the success of the Federal LIHTC program, which has been responsible for financing the development of over 3 million affordable units across the country and more than 90% of affordable housing units constructed in Arizona in recent years. Building affordable housing is no cheaper than building market-rate units, and that’s where the financial incentives provided by LIHTC play a crucial role in getting affordable units to market.Developers of affordable housing face the same construction costs – land, labor, and materials – as those building m …
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