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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
These credits are administered by designated state agencies, and preference is given for the development of housing in low-income areas. [4] The Inclusive Communities Project is a Texas-based non-profit organization that helps low-income families obtain affordable housing. [ 5 ]
In both large metropolitan areas and regional towns where housing prices are high, a lack of affordable housing places local firms at a competitive disadvantage. They are placed under wage pressures as they attempt to decrease the income/housing price gap. Key workers have fewer housing choices if prices rise to non-affordable levels.
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Cher is reflecting on her two-year relationship with Gene Simmons.. The singer/actress, 78, who dated the KISS musician from 1977 to 1979, reveals in her new memoir Cher: The Memoir, Part One that ...
The Empowerment Zone Program consists of three US congressional designations. [2] The Renewal Communities (RCs), Empowerment Zones (EZs) and Enterprise Communities (ECs) are highly distressed urban and rural communities that may be eligible for a combination of grants, tax credits for businesses, bonding authority and other benefits.
NEW YORK (Reuters) -Donald Trump may seek dismissal of the criminal case in which he was convicted in May of 34 felony counts involving hush money paid to a porn star, a judge ruled on Friday ...
Donald Trump's former Treasury secretary, Steven Mnuchin, said he will not seek to join the president-elect's new administration but is ready to offer advice to his successor, including on how to ...