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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.
State Capitol Homes (aka "Capitol Homes") was completed on April 7, 1941 and designed to serve black families in low-rise housing. [2] The 694 units demolished in 2003 were replaced by Capitol Gateway, which includes 1,000 units of housing for various income levels.
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.
This is a list of developments of public housing in the United States Arizona. Phoenix, Arizona. Coffelt-Lamoreaux Homes (1953) [1] [2] Arkansas. Little Rock ...
The Tax Credit for the Elderly or Disabled allows low-income Americans ages 65 and older to claim a tax credit of $3,750 to $7,500, depending on your income, marital status and other factors.
Some taxpayers to get $1,400 payments for unclaimed stimulus tax credit The IRS will send an estimated $2.4 billion to taxpayers who didn’t claim the recovery rebate credit on their 2021 tax ...
National Equity Fund, Inc. was founded by the Local Initiatives Support Corporation to be one of the first LIHTC syndicators, following the creation of LIHTC in the Tax Reform Act of 1986. LIHTC provides investors in affordable housing a dollar-for-dollar reduction in federal taxes in exchange for equity in new or refurbished affordable housing ...
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