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$80 million: Increase/preserve income-restricted housing with $10 million that "may" be used to support a new public housing development program $10 million: Property acquisition and ...
What’s planned: The $17 million for-sale community project includes 98 single-family homes and 51 townhome units with 60% buyer income-restricted homes and 40% of the homes with no buyer income ...
PROVIDENCE − The state Affordable Housing Trust Fund approved $1 million for a new pilot program on Thursday to increase the number of new income-restricted houses sold in the state, offering a ...
According to HUD's Residential Characteristic Report, the average annual income in 2013 for a resident of a public housing unit is $13,730. [31] The same report classifies 68% of residents as Extremely Low Income, with the largest annual income bracket being $5,000 to $10,000, containing 32% of public housing residents. [31]
New York City attracts thousands of new residents each year and housing prices continue to climb. Finding affordable housing affects a large portion of the city's population including low-income, moderate-income, and even median income families. [62] Since 1970, income has remained relatively stagnant while rent has nearly doubled for New ...
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.
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