Developers of affordable housing in California are on pins and needles over Trump’s tax plan
Over two years, developer Geoffrey Morgan lined up investors, partnered with a medical clinic and found a manufacturer in Idaho to build 135 apartments for formerly homeless residents near downtown San Jose.
After election day, affordable housing projects across the state immediately saw multimillion-dollar budget gaps and future dollars are now at risk. The tax credit program is the largest source for funding for low-income housing in California, and the market downturn could mean a reduction in state low-income housing funding by $250 million this year, said Matt Schwartz, president
