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Will New Tax Law Impact Affordable Housing in SC?

Clayton Ingram

As you are probably starting to find out, the new tax law is affecting a lot of things.  Possibly, even affordable housing.  In fiscal year 2017, South Carolina’s Housing Tax Credit program allocated over $12 million across 20 new housing developments.  But while the tax credits are still there, our next guest says that the new lower corporate tax rate may make them less attractive.

Mike Switzer interviews Clayton Ingram, director of marketing and communications at the South Carolina State Housing and Finance Development Authority in Columbia, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.