Developer Misses Tax Credits for Low Income Housing Development Adjacent to Field of Dreams

The Woda group of Ohio did not make the cut for federal tax credits, according to information recently released by the Tennessee Housing Development Agency. A section 43 housing developer, Woda had proposed a development adjacent to the Field of Dreams in Dandridge. The low income housing development, named Douglas Green, could have afforded the company millions of dollars in income tax credits. Woda representatives approached the Dandridge Planning Commission and requested that the Commission declare the area a revitalization area, which it did, however the Committee contends that representatives of the developers left out vital information in their request. The Commission later rescinded the revitalization plan and contacted the Tennessee Housing Development Agency regarding their decision. Woda’s request for tax credits was already submitted to the THDA and the agency, during an interview, stated that the Woda would most likely receive full points for their development proposal, regardless of the rescinding. THDA has released the names of developers that are in line for 2013 tax credits and Woda did not make the cut, coming in more than a dozen spaces below the potential distribution line. Woda received a THDA score, a determining factor for tax credit receipt, of 290. The highest score received by any petitioning developer was 297. Dandridge Planning Commission Chairman Linda Swann stated that the Commission strives to work in the best interest of the residents of Dandridge and that projects of this magnitude are impacting to the Town and require consideration, planning and confidence in the information provided by the developer.