what we do	who we are	news	links

BETCO Development Corporation, in partnership with Dianna McIver and Associates, utilizes Housing Tax Credits to bring class A apartment complexes to rural communities in Texas.

The Housing Tax Credit (HTC) Program was developed under IRS Section 42 to enable private developers the ability to develop housing in markets that would otherwise not allow for such

development.

Allocations of “Tax Credits” are made on an annual, competitive basis. Private developers apply to the Texas Department of Housing and Community Affairs, the managing agency for the State of Texas HTC funds, for an allocation of funds.

Awarded tax credits are paid over ten years. Once a developer is awarded an allocation, the tax credits can then be sold to investors through an equity syndicator. The sale of the tax credits produces equity which can then be used to construct and operate an affordable development.

The investor owns a large percentage of the development for the tax credit period, and can take advantage of any depreciation and/or losses the development incurs.

In exchange for the tax advantages allowed to the investors, units developed under the Housing Tax Credit Program maintain income restrictions and rent caps.

RECENT  DEVELOPMENT  EXPERIENCE