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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 ...
For statistical purposes (e.g., counting the poor population), the United States Census Bureau uses a set of annual income levels, the poverty thresholds, slightly different from the federal poverty guidelines. As with the poverty guidelines, they represent a federal government estimate of the point below which a household of a given size has ...
Although developed by the University of Chicago, they have been used by other universities in the Chicago area, as well as by the city and regional planners. [2] They have contributed to Chicago's reputation as the "city of neighborhoods", and are argued to break up an intimidating city into more manageable pieces. [2] Chicago was an early ...
For income, individuals and households may qualify for benefits if they earn a gross monthly income and a net monthly income [a] that is 130% and 100% or less, respectively, of the federal poverty level for a specific household size. For example: in Fiscal Year 2024, the SNAP-eligible gross monthly income limit is $1,580 for an individual.
Food deserts are generally defined as regions that lack access to supermarkets and affordable, healthy foods, particularly in low-income communities. [1] According to the USDA's most recent report on food access, as of 2017, approximately 39.5 million people - 12.9% of the US population - lived in low-income and low food access.
The city of Chicago will soon open applications for a guaranteed basic income program supporting 5,000 low-income residents with $500 The post 5,000 low-income Chicago residents to get $500 ...
Of the remaining census tracts, one in the southeast corner of the area had no data, four in the eastern half of the area had a median household income of between $36,200 and $57,900, below HUD's low-income limit and above its very low-income limit, and the remaining five had a median household income of between $57,900 and $86,900. [10]
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.