AUSTIN, Texas — President Trump's promise to slash corporate taxes bringing most affordable housing projects to a halt.
Those projects rely on a federal tax credit that encourages businesses to invest in affordable housing for low and very low income tenants. The program launched 30 years ago and targets families that make too much to live in public housing, but can't afford to rent a place at market rate.
Travis County's affordable housing project is on hold because of a funding gap created by the president's tax plan.
"They are less attractive to investors,” Travis County Judge, Sarah Eckhardt said. “We are concerned that we may have difficulty in closing that $1.5 million gap."
If it gets built, Travis Flats will be home to Travis County's Health and Human Services Department and 240 apartments. County leaders want to avoid using property taxes to make up the shortfall.