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<br />Page 201'2 <br /> <br />DREAM Initiative <br /> <br /> <br />Internal Revenue Service allocates the credit to each <br />state in an amount equal to $1.80 times its population. <br />Missouri also has a state low income housing credi~ <br />and may allocate an amount equal to 100% of the <br />federal credit. The Housing Credit is limited to a <br />percentage of the Qualified Basis, based upon <br />depreciable basis, and the percentage of affordable <br />units in the development. The minimum number of <br />qualifying units is a) 40% of the total number of units <br />affordable to persons at 60% of the median income or <br />b) 20% affordable to persons at 50% of the median <br />income. Developers (for-profit and non-profit) are <br />eligible to apply for tax credits. <br /> <br />CQml11.\.illityDev:~lQPmellt "Block. Qra.nt PNgfl3.l11 <br />(CDBG) <br />Provides fmandal assistance to local governments for <br />public improvements. Qualifying districts and <br />nonprofit organizations may also receive CDBG <br />funding through their local government. The state <br />CDBG program is available to non-entitlement cities <br />and counties in Missouri. <br /> <br />M!?S 9URI'~oAr <br /> <br />Of [CONC>>t\IC ()[ytlOl"'U.NT tilh"''''.. 0." i."....' <br /> <br />I .."... .....n J <br />~...",,.: .V-4"........7, <br />t1lS1OU11 HQUl,IN(; <br /> <br />http://www.dre <br />am.mo gov/h . <br />. OUSlnrTd h <br />.,. ev tm <br />