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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.
Howard County Housing continues its activity to expand affordable housing opportunities, sometimes with non-profit and private sector partners, and by using layered financing sources, including Howard County Government funding, Low-Income Housing Tax Credits, State of Maryland financing, and various federal and private financing sources. Howard ...
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.
Maryland Secretary of Housing and Community Development Jake Day indicated last month there is a shortage of at least 96,000 units in the state. In February of last year, Maryland Realtors, a ...
(Sec. 133) Requires housing credit agencies to: (1) provide for a comprehensive market study (by a disinterested party, at the developer's expense) of the housing needs of low-income individuals in the area to be served by the project before the credit allocation is made; and (2) make public a written explanation for any allocation of a housing ...
The Maryland Supplemental Nutrition Assistance Program (SNAP) provides monthly benefits to low-income households. SNAP is administered by the Maryland Department of Human Services and benefits are...
The Community Development Financial Institutions Fund (CDFI Fund) in the U.S. Department of the Treasury was authorized to administer the program. CDEs apply to the CDFI Fund each year for an "allocation authority" (the authority to raise a certain amount of capital, known as Qualified Equity Investments (QEIs), [5] from investors).
The Montgomery County, Maryland Department of Housing and Community Affairs Commission on Common Ownership Communities also favored the law, calling reserve studies critical to avoiding emergencies for community associations and a "little financial pain" which leads to "lower costs" in future, noting that special assessments or projects will ...
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