SoLa Impact’s modular housing arm lands $32M in tax credits

Model/Z — SoLa Impact’s modular housing arm — will be able to move forward with its affordable modular housing construction work armed with more than $30 million in tax credits.  The Los Angeles-based developer received a $32 million New Markets Tax Credit to finance affordable and workforce housing constructed from factory-made modules, L.A. Business First reported.  Congress set up the tax credit in 2000 as an incentive for investment in low-income communities. Between 2002 and 2025, the New Markets Tax Credit program awarded $91 billion to community developers for commercial and residential projects.  Greenline Community Development Fund, an affiliate of […]

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