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Incoming OHFA Executive Director Sean Thomas says instability around corporate tax rates has meant a 5 to 15 percent loss in value for LIHTC. That’s translated into funding gaps between $500,000 to $1.5 million for projects in the state.”Investors of the credits have either put a hold on their commitments or renegotiated their existing commitments for projects that have not closed on their financing,” Thomas says. “A lower corporate tax rate may reduce the value of the credit, and therefore, investors are trying to plan accordingly.”Locally, four projects awarded LIHTC credits last year lost about $380,000 due to the credits’ devaluation.

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