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  • Los Angeles Times

    Affordable housing projects are threatened as tax cuts undermine a source of funding

    by Andrew Khouri, Los Angeles Times Mar 09, 2018 4 minutes

    LOS ANGELES - On 1st Street in Santa Ana - not far from where authorities recently cleared a tent encampment along the Santa Ana River near Angel Stadium - developer Caleb Roope wants to build nearly 1,000 apartments that will be affordable for low-income seniors and families.

    But, despite a renewed push from the state to tackle its affordable housing crisis, Roope, chief executive of Pacific Cos., isn't sure he can break ground on the two subsidized projects.

    The problem? The federal government.

    The $1.5-trillion tax cut President Trump signed into law last year slashed corporate tax rates and gave businesses more money to spend how they choose.

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