Bisnow South Florida | By Deirdra Funcheon | July 29, 2020
To get affordable housing built, developers usually receive government tax
credits that they in turn sell to investment partners and banks that use them to
offset their tax liability. This year is anything but usual for banks, though — the
three biggest ones in America are expecting such a huge drop in loan
repayments that they set aside $28B to cover expected losses over the next three
months.
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