WASHINGTON — The Treasury Department has rebuffed requests from the Lousiana Housing Finance Agency and other housing groups to allow them to “monetize” Gulf Opportunity Zone low-income housing tax credits by allowing them to be exchanged for federal cash grants under a program created by the stimulus package.

The LHFA is now vowing to fight Treasury’s position, which they said is “ridiculous” and inconsistent with the intended purpose of the GO Zone credits: to facilitate prompt housing recovery from hurricanes.

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