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Tax credit sites tend to operate on tight margins because of the competition to obtain these credits initially and the allocating agencies’ obligation to provide the minimum amount of credit necessary to make a deal feasible. Given these constraints, it’s no surprise that some sites, by the time they've reached the end of their compliance period, have fallen into financial distress. Common reasons include poor property management practices, inadequate financial structures, deficient physical conditions of the site, and a soft rental market.
