Jefferson City housing development receives $1.9 million in tax credits

COLUMBIA, Mo. (KMIZ)

A housing development in Jefferson City has been awarded more than $1.9 million in low-income housing tax credits through the Missouri Housing Development, according to a Friday press release from the city.

The credits were awarded for the Moreau Valley housing development -- located at 2135 Schotthill Woods Drive – which is a proposed 48-unit multi-family development consisting of 36 three-bedroom units and 12 two-bedroom units, the release says.

The release says eight units will be set aside for the Rape and Abuse Crisis Service.

“Moreau Valley will leverage Community Development Block Grant-Disaster Recovery (CDBG-DR) funds, LIHTC, and private investment to make this project possible,” the release says.

Information from the city shows $1,130,000 from federal 9% tax credits, while $791,000 is from state 9% tax credits.

The release says Moreau Valley is expected to replace about one-third of rental units lost from the 2019 Jefferson City tornado.