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Photo of Scott Alter “We’ve also used private activity bonds to take market-rate, existing housing and convert it to affordable,” says Alter.

LOS ANGELES—In what appears to be a classic case of unintended consequences, Congressional Republicans may be on the verge of eliminating a key source of funding for affordable housing projects. The first draft of the House’s tax-reform package calls for the elimination of private activity bonds, which are used in connection with 4% Low-Income Housing Tax Credits to build, buy and renovate affordable housing—and thereby make possible much of the affordable housing sector’s activity.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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