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All U.S. states are automatically eligible for HOME funds, and each receives a minimum of $3 million for the program, while local governments receive a minimum of $500,000 (unless the United States Congress assigns $1.5 billion or less to the program, in which case they receive a minimum of $335,000). [2]
In 2023, the LIHTC program is estimated to cost the government an average of $13.5 billion annually. [1] A 2018 report by the GAO covering the years 2011-2015 found that the LIHTC program financed about 50,000 low-income rental units annually, with median costs per unit for new construction ranging from $126,000 in Texas to $326,000 in California.
The number of homeowners insured by Louisiana Citizens has nearly tripled since Hurricane Laura in 2020, indicating the dire state of Louisiana's home insurance market.
According to the Road Home web site, "32,389 applicants have received elevation disbursements totaling $942,865,530". [1] The Road Home Program's local office officially closed in March 2018, however, the program's official website has continued to post Situation and Pipeline reports [2] into July 2021. In addition, the Small Rental Property ...
The Home Investment Partnerships Program (HOME) – This HUD program provides grants to state and local governments that can be used to create affordable housing options for low-income households ...
Viswanathan said Goldman Sachs expects US home prices to rise 4.4% in 2025, up from a 3.2% projection in April. Additionally, it could take a while before the Federal Reserve's interest rate cuts ...
However, while the LIHTC has expanded to provide the most new affordable housing in the United States, the program has received many criticisms and calls for its elimination. One such criticism is that the effectiveness of the LIHTC program in providing affordable housing depends on the motivations of various market participants.
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