El Pasoans Bobby and Randy Bowling, who own Tropicana Homes and its related entities, announce today the formation of a new company called “The Tropicana Tax Credit Investment Fund, LLC.” The purpose of the new company will be to invest in Tropicana’s own Low Income Housing Tax Credits, as well as to make other strategic investments in Low Income Housing Tax Credits, primarily throughout El Paso County. Tropicana Building, also owned by Bobby and Randy Bowling, has brought over $300 million in federal tax credit funding to the El Paso region as well as over $500 million in apartment construction work to their hometown since 2001. During that time frame (since 2001) Tropicana has been the most successful applicant in the Low Income Housing Tax Credit program in the state of Texas, winning at least one competitive funding award each year since 2001, with 38 total funding awards. “Randy and I are pleased to continue to grow our portfolio.” said Bobby Bowling IV, “Overall, what this means for the El Paso community is more affordable housing for hard-working families, job creation and tax revenues that have helped to improve the neighborhoods where we all live.”

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For more information, or to schedule an interview with Bobby Bowling IV, please call Maria Schneider at (915) 321-3550 ext. 109 or e-mail at m.schneider@tropicanahomes.com