State OKs tax credits for SOS affordable housing project

An affordable housing project South Oakland Shelter plans in southern Oakland County has moved forward with the state’s approval of tax credits for it. The Michigan State Housing Development Authority this week approved $1.36 million in low-income housing tax credits each year for 10 years for the development, as one of 14 projects awarded a total of $13.5 million in incentives. SOS expects to close on the tax credits and finalize the purchase of 4.5 acres of vacant land on the west side of Coolidge Highway north of Eight Mile Road from the city of Oak Park by year’s end.

Source: Crain’s Detroit Business