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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.
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 low-income housing tax credit funds most affordable housing projects across the country. To receive funding from the credit, the units created must be affordable for residents earning no more ...
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.
Since 1987, the Low Income Housing Tax Credit has become the most important resource for creating affordable housing in the United States, responsible for more than three million units of affordable housing. [4] NEF has invested over $16.75 billion in 2,494 housing developments, creating 158,907 affordable homes since its founding in 1987.
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.
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