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The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [1]
Housing is a big issue right now, with a lot of strong opinions. But there’s one particular housing program that most experts agree fails to deliver: the Low-Income Housing Tax Credit, known as ...
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 program is designed ...
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 federal LIHTC program fails to provide substantial affordable housing and cost efficiency. | Opinion Low-Income Housing Tax Credit: a flawed, ineffective policy with unfulfilled promises | Opinion
The president wants to increase the number of tax credits available for low-income housing developers and approve a $20 billion innovation fund for affordable housing expansion.
Through this program, developers receive tax credits in exchange for agreeing to rent a portion of their units to low-income tenants at reduced rates. [36] Eligibility for these tax credits necessitates that the proposed development either encompasses new construction or involves substantial refurbishment of residential units.
LISC was an early advocate for the Low-Income Housing Tax Credit (LIHTC), which created by the Reagan Administration in the Tax Reform Act of 1986. In 1987, LISC launched the National Equity Fund (NEF) to syndicate LIHTC, raising $14.5 million in the first year. [15]
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