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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.
Government policies should provide incentives for affordable home and rental family living arrangements.
The DH oversees Section 8 housing assistance programs, which are funded by the United States Department of Housing and Urban Development. Other programs seek to create housing opportunities in viable neighborhoods for low-income households, to fund the development of affordable housing throughout the state, and to expand the capacity of non ...
Permanent, federally funded housing came into being in the United States as a part of Franklin Roosevelt's New Deal. Title II, Section 202 of the National Industrial Recovery Act, passed June 16, 1933, directed the Public Works Administration (PWA) to develop a program for the "construction, reconstruction, alteration, or repair under public regulation or control of low-cost housing and slum ...
In 1983, the New Jersey State Supreme Court determined that the inclusion of affordable housing would satisfy a municipality’s state constitutional obligations to house the poor, and then in 1986, U.S. Congress authorized the Low Income Housing Tax Credit (LIHTC) program, which provided a tax credit to private developers who included ...
State officials kicked off a $156 million solar energy program with the aim of powering New Jersey's low-income and disadvantaged communities.
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