SLO Non-Profit

In 1986 Congress adopted a revision to the Internal Revenue Service Act which incorporated a process of providing tax credits for limited investors in housing serving individuals and families whose annual incomes did not exceed 60% of applicable County median income. However, the managing general partner could not be a public agency, which the Housing Authority is. A 501 (c ) ( 3) non-profit housing corporation to take advantage of tax-credit developments. The Housing Authority of the City of San Luis Obispo was quick to take advantage of the concept and in January 1989 our affiliate non-profit opened its first 20 unit tax credit development at 4035 Poinsettia Street in the City of San Luis Obispo. Since that date San Luis Obispo Non-Profit Housing Corporation has built and occupied five other tax-credit developments and has acquired and rehabilitated several other developments using Section 8 rents to help subsidize the units. Two additional tax credit developments are being developed at this time, when they are completed the non-profit will own 230 units of housing within the county with the major concentration of those units in the City of San Luis Obispo.

All of the non-profit's units are managed and maintained by the Housing Authority of the City of San Luis Obispo.