C Garcia Associates, LLC (CGA) has gained a reputation as a successful Section 42 developer having completed multiple Tax Credit projects in the Midwest and Texas.
Section 42 of the Internal Revenue Code, was enacted by Congress in 1986 to provide the private market with an incentive to invest in affordable rental housing. Federal housing tax credits are awarded to developers of qualified projects. Developers then sell these credits to investors to raise capital (or equity) for their projects, which reduces the debt that the developer would otherwise have to borrow. Because the debt is lower, a tax credit properties can in turn offer lower, more affordable rents.
CGA’s experience has proven very valuable to clients offering assistance with project development, construction management and Charter Schools Combining these areas with Housing Tax Credits, has delivered sound investments for CGA’s partners while changing key economic drivers for the communities and individuals we partner with