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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.
The 80/20 program uses the Low-Income Housing Tax Credit (LIHTC) along with bond sales to finance housing projects. [ 3 ] This program encourages the creation diversified income projects while also allowing granting developers funds at lower interest rates. [ 4 ]
In terms of benefits of the LIHTC program, a 2011 analysis published in the Housing Policy Debate journal found that increases in the use of tax credits are linked to reductions in racial segregation in metropolitan areas. [39] This means that LIHTC projects do not tend to lead to increased segregation, even in areas with elevated poverty levels.
For the first time in over a decade, obesity rates in the United States may finally be heading in the right direction and new weight loss drugs like semaglutide could be part of the reason why. A ...
Administration for Children and Families logo. The Low Income Home Energy Assistance Program (LIHEAP, pronounced "lie" "heap") is a United States federal social services program first established in 1981 and funded annually through Congressional appropriations.
Through LIHTC, investors receive a tax shelter of one dollar ($1) for every tax credit received over a 10-year period. The price of individual tax credits may vary and does not necessarily have to be a 1:1 exchange. The dollar amount of tax credits available to a state is determined by that state's population.
The Tax Credit Assistance Program (TCAP) is a Federal housing grant program administered by HUD which assists Low Income Housing Tax Credit (LIHTC) projects funded during 2007, 2008 and 2009. The TCAP program is part of the American Recovery and Reinvestment Act which was signed by President Obama on February 17, 2009.
In the memoir, Gates does go on to mention one other time he took acid, which occurred when he was in college. Surprise, surprise, Allen was involved.