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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.
National Equity Fund, Inc. was founded by the Local Initiatives Support Corporation to be one of the first LIHTC syndicators, following the creation of LIHTC in the Tax Reform Act of 1986. LIHTC provides investors in affordable housing a dollar-for-dollar reduction in federal taxes in exchange for equity in new or refurbished affordable housing ...
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.
The young boy's body was discovered in a wooded area off Susquehanna Road in Philadelphia on Feb. 25, 1957. He was nude, wrapped in a blanket, and had been placed in a large box that had held a ...
Ashley Stobart, UK-based influencer, entrepreneur and co-host of the Nip Tuck podcast, is opening up about her controversial decision to get a facelift at 34.. Stobart tells PEOPLE that during her ...
Michigan won its most important game of the season Saturday, but it wasn't enough to save the job of offensive coordinator Kirk Campbell.. The Wolverines announced Tuesday they were relieving ...
This program has done well over the years in receiving funding to help lower income families. The Low-Income Housing Tax Credit (LIHTC) was added to TRA86 [clarification needed] to provide some balance and encourage investment in multifamily housing for those in need of affordable rental housing options. Over the subsequent 20 years, it has ...
In addition, state law requires that 15% of the housing units produced in redevelopment project areas must be affordable. At least 20% of revenue generated from a redevelopment project must be contributed to low-income and moderate-income housing. [ 16 ]