Asset and Property Management
Our organization has been involved in affordable housing development, also commonly known as 'tax credits', as one of its' core lines of business since early on. Building affordable housing is consistent with our mission to provide programs and services that primarily benefit current and future inhabitants, which renew pride, stimulate reinvestment and restore confidence and trust.
The low-income housing tax credit (LIHTC) program was created in 1986 and made permanent in 1993, as an indirect federal subsidy used to finance the construction and rehabilitation of low-income affordable rental housing. In other words, owners must keep the units rent restricted and available to low-income tenants for fifteen years. Although, these newly constructed properties are rentals upon their sale the real estate market and the buyer will benefit from a newer constructed property.
For renters who desire to transition from renter to homeowner in 'year 16' our Financial Opportunity and HomeOwnership Center staff can provide further assistance.
Interested parties can contact Vistula Management at 419-724-5513 for rental assistance.
Energy Star Case Study