This Week in Passenger Transport
April 21, 2008
The La Crosse Municipal Transit Utility in La Crosse, WI, recently received $7.5 million in state housing tax credits for the housing component of its Grand River Station development project. The station development will include retail space, 74 apartments, and 10 condominiums catering to artists and entrepreneurs in addition to eight covered bus terminals.
The tax credits were part of $100 million in housing tax credits awarded annually by the Wisconsin Housing and Economic Development Authority and announced April 14 by Wisconsin Gov. Jim Doyle. Federal and city transit funding will cover the remainder of the station project costs.
In exchange for receiving the tax credits, developers agree to reserve a portion of their housing units for lower-income and moderate-income households for at least 15 years.
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