Stimulus Money starts to stimulate
The Arkansas Development Finance Association announced $52.5 Million in new projects. This is stimulus money being put to work on affordable senior housing projects. The states traditionally used tax credits to help finance these projects, but there isn’t much demand for tax credits in a recession apparently, so the states are allowed to exchange the allocated credits for cash to finance or purchase affordable senior housing projects.
I recognize one of the names on there, Thomas Enbach, as someone who has quite a few senior housing developments across north Arkansas. Some of you central Arkansas readers may recognize the names on the list.