MOBERLY, MO - Thousands of low income rural Missourians will be eligible for affordable housing thanks to a change in federal legislation passed last week by Congress and signed into law by President Bush. Missouri Congressman Kenny Hulshof proposed the change in income guidelines for families seeking to live in tax credit properties as a part of the Housing Stimulus Package. The change means more residents of the state will qualify to live in these properties.
Previous legislation had set the maximum income limits for the Low Income Housing Tax Credit (LIHTC) at 60 per cent of the area median income. "This formula works fine for metropolitan areas but in rural Missouri, two people working minimum wage in a household would make too much money to qualify," said Carla Potts, Deputy Director for Housing Development for the North East Community Action Corporation (NECAC) headquartered in Bowling Green. "We knew there was a great need out there and something needed to be done. We went to Congressman Hulshof to see if the current law could be changed."
As a result of the change, rural properties will now be able to use income guidelines that are based on the greater of area median income or the national non-metropolitan median gross income. This change will be a major boom to rural working families according to Potts. She said the new legislation is a great help to the low income, which is what Congress had intended in the first place.
Since 1997, NECAC has been a partner in the building, renovation, management or planned construction of more that 1,300 apartments and homes for the elderly, families and disabled. Mostly through LIHTC financing, the developments represent an investment of more that $61.5 million in the construction and management of quality housing. NECAC owns or manages apartment complexes in Bourbon, Bowling Green, Canton, Cuba, Hannibal, Kirksville, LaGrange, Lewistown, New London, Louisiana, Milan, Moberly, Monroe City, O'Fallon, Palmryra, Steelville, St. Peters, Troy, Vandalia, Warrenton and Wentzville.
NECAC is a social service, community health and public housing Community Action Agency which operates and delivers a variety of programs and services to qualifying low-income, elderly, youth, disabled and disadvantaged participants through grants and contracts with federal, state and local governments, private businesses and other non-profit organizations.
NECAC is one of 19 Community Action Agencies in Missouri and part of a national network of 980 agencies. The agency's Central Administration Offices are located in Bowling Green with NECAC County Service Centers operated in each county.
NECAC delivers more than 60 social service, community health and public housing programs to clients through more than 30 contracts and grants with federal, state and local governments, private businesses and other non-profit organizations. The agency has 110 full-time and more than 250 part-time employees, and currently operates a budget of $24.8 million.
Source: MoberlyMonitor.com