VIDEO: Affordable apartment developments face funding gaps, delays as tax credit prices drop

By now, construction should be well underway on a development that would create 64 apartments on Milwaukee`s north side.

But that $13.7 million project is facing a funding gap tied to last November`s surprising election results.

Around half of its financing is coming from federal tax credits given to developers of affordable apartments.

Investors throughout the country are paying less for those tax credits because they believe President Donald Trump and the Republican-controlled Congress will likely cut corporate income tax rates. Such tax rate cuts would make the tax credits, which are used over a 10-year period, less valuable to banks and other firms that buy them from developers....