The 2018 application for Agriculture Workforce Housing Tax Credits (AWHTC) is now available.
The AWHTC Program is designed to give a state income tax credit to investors who incur costs to construct, install, acquire or rehabilitate agriculture workforce housing. The tax credit may be claimed on up to fifty (50) percent of the eligible costs actually paid or incurred to complete an agriculture workforce housing project. The total of estimated eligible costs for all approved projects for each calendar year is $7.25 million. Up to one hundred (100) percent of the credit may be transferred to a contributor of the project. A “soft set-aside” of $750,000 from that amount is reserved for on-farm projects. The soft set-aside restricts the use of these credits to be awarded for on-farm projects until they have been fully awarded or until June 30, 2018, whichever comes first. If the credit set-aside is not awarded by June 30, 2018, the remaining set-aside credits will no longer maintain any additional restriction and be available to the next applicant in order of succession.
Oregon Housing and Community Services will not accept completed applications until January 2, 2018; applications are accepted on a rolling basis.
Access the application and instructions, at this link: http://www.oregon.gov/ohcs/Pages/multifamily-housing-tax-credit-agriculture-workforce.aspx
