TIBERI: WE NEED TO INCENTIVIZE PRIVATE CAPITAL INVESTMENT INTO NEIGHBORHOODS THAT OTHERWISE WOULDN’T SEE IT.

WASHINGTON, D.C. – August 4, 2015 – (RealEstateRama) — U.S. Congressman Pat Tiberi (R-OH) today issued the following statement:

I’ve long been interested in seeing communities turn the corner from down-and-out neighborhoods to areas thriving with redevelopment and opportunity. The Low-Income Housing Tax Credit (LIHTC), which I’ve championed, helps support families who are looking for safe, quality, and affordable places to live. That opportunity combined with the New Markets Tax Credit (NMTC) program, which helps spur investment and create jobs in low-income or underserved areas, have the potential to lift distressed communities. Both of these programs are public-private partnerships that encourage capital investment by the private sector. I’ve seen first-hand how effective these programs are. The credit floor for the LIHTC and the NMTC program should be made permanent to encourage even more private investment in communities that need it. I look forward to working with other lawmakers to improve and expand these programs, examine new ways to help these communities, and further incentivize private capital investment in these distressed neighborhoods that otherwise wouldn’t see it.