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The project's cost is an estimated $16.6 million and Housing New Mexico, otherwise known as the New Mexico Mortgage Finance Authority, is providing $14.2 million in federal Low-Income Housing Tax ...
City officials through their Housing Forward ABQ initiative have said the city is short between 13,000 and 28,000 units, and low-income communities face tougher challenges when it comes to housing ...
New Mexico taxes all retirement income including Social Security with a deduction for seniors based on income. Low property taxes, combined with affordable median home costs, make it a contender ...
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, established in 1986, stands as a groundbreaking departure from the typical structure of supply-side housing programs, which primarily relied on subsidizing low-income housing. As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [33]
This effectively created an infinite supply that would keep prices low for years. This sales approach eventually led to lawsuits and in 1977, AMREP refocused its sales efforts to appeal to local residents. Selling lower cost equivalent homes to residents in the Albuquerque area proved a more legal and lucrative proposition.
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