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The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
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.
Non-profit housing is owned and managed by private non-profit groups such as churches, ethnocultural communities or by governments. Many units are provided by community development corporations (CDCs). They use private funding and government subsidies to support a rent-geared-towards-income program for low-income tenants. [7] [8] [clarification ...
The Warren Planning Board is trying to reverse its decision to kill a 40-unit housing income-restricted housing project because of a new state law.
Developer wants to turn the empty lot into income-restricted units of two and three bedrooms. 178-unit income-restricted, mixed-use building gets green light near RI Hospital Skip to main content
PROVIDENCE — The state will use $3.8 million in federal grant money to tackle negative perceptions in specific "health equity zones" around income-restricted housing, as well as other housing ...
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