August 24, 2021, Beth Healy

A federal judge in Seattle on Tuesday dismissed a lawsuit brought by an investment firm against the Washington state housing commission, in a case that’s been widely watched by housing officials in Massachusetts and around the country.

The case involved Alden Torch Financial of Denver, which manages investments in low-income housing tax credits and has allegedly tried to extract money or control from housing groups, including in Boston and Seattle.

Less than 6% of our budget comes from government support. WBUR only exists because readers like you fund our quality reporting. Donate Now.

State housing agencies are the only oversight arms for Low Income Housing Tax Credits, the federal government’s multi-billion-dollar program to get funding from banks and private financiers into affordable housing. Historically, funders would invest in these properties, receiving 15 years of tax benefits in return — and then allow the nonprofit housing group to assume ownership of the property for a small sum.

Read Full Article