Ads
related to: low income apartments lemooremovoto.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
The LIHTC, established in 1986, stands as a groundbreaking departure from the typical structure of supply-side housing programs, which primarily relied on subsidizing low-income housing. As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [33]
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 ...
Non-profit housing is owned and managed by private non-profit groups such as churches, ethnocultural communities or by governments. Many units are provided by community development corporations (CDCs). They use private funding and government subsidies to support a rent-geared-towards-income program for low-income tenants. [7] [8] [clarification ...
Some have paid well over $500,000 for homes — even $1 million-plus in instances — while others pay market-rate rents that can exceed $1,800 a month for one-bedroom apartments and $2,400 for ...
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.
Seniors earning between 30% and 80% of the area median income will be eligible for apartments in the new building; that comes out to annual incomes of between $19,000 and $51,000.
Ads
related to: low income apartments lemooremovoto.com has been visited by 100K+ users in the past month