PRVO and/or its Affiliates develop affordable housing subdivisions through the use of Affordable Housing Tax Credits. The Tax Credit Regulations are found in Section 42 of the Internal Revenue Service Code, as amended in 1986. The tax credit allocation comes through the Mississippi Home Corporation. The tax credit allocations come from the not for profit – more... or the My House My Home Lease to Purchase set aside. All houses target safe, decent and affordable housing for families. The units are single family detached houses with either three or four bedrooms.
PRVO forms a limited partnership or a limited liability company in the name of the Development. The partners/members of such entity are a PRVO Affiliate and an Investment Partner. The financial sources come from the Investment Partner and a loan from a local financial institution. The Investment Partner receives income tax credits in exchange for the investment in the Development.
The Tax Credit Guidelines require a house compliance rental period of at least fifteen years. Following the close of this compliance period, PRVO is committed to offer to sell the house to the tenant at a reduced price.
PRVO and PRVO Construction and Development, LLC have developed the following housing subdivisions:
Development Name
Location
Number of Houses
Cauley Estates, L.P.
Greenville, MS – less – More from ZoomInfo »
Pearl Valley Employer Reviews
