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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.
After the April 2017 budget negotiations, the program was officially renewed, with the official new program name being "Affordable New York". The program is administered by the New York City Department of Housing Preservation and Development. Under the program, much of the stabilization benefit going to market renters goes away as does the ...
New York City's 80/20 housing program was created in 1985 and has financed developments in New York that meet the parameters ever since. Compared to market rate units in the same area, the affordable units in 80/20 developments had a disproportionately high number of women, single parent households, households with multiple children and minorities.
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 ...
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]
For Rachel Fee, executive director of the New York Housing Conference, which advocates for affordable housing for New Yorkers, this mass deportation effort does not seem correlated to the housing ...
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