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Transitional housing is temporary housing for certain segments of the homeless population, including working homeless people who are earning too little money to afford long-term housing. Transitional housing is set up to transition residents into permanent, affordable housing .
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.
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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 ...
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OpEd: With unveiling and facing these historical truths, we can now develop public policies that encourage housing availability and economic mobility for Black and brown families.
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