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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.
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. The program is designed ...
Leicestershire County Council is the upper-tier local authority for the non-metropolitan county of Leicestershire, England. The non-metropolitan county is smaller than the ceremonial county, which additionally includes Leicester. The county council was originally formed in 1889 by the Local Government Act 1888.
National Equity Fund, Inc (NEF) is a national non-profit syndicator of Low Income Housing Tax Credits (LIHTC). Created in 1987 as an affiliate of the Local Initiatives Support Corporation (LISC) and headquartered in Chicago, NEF is one of the largest non-profit LIHTC syndicators in the United States of America. [1] [2] [3] [4]
This program encourages the creation diversified income projects while also allowing granting developers funds at lower interest rates. [4] It is a national priority to provide low- and moderate-income families affordable housing, and through the 80/20 program developers can provide high quality affordable housing, while still remaining fluid ...
Renters over the age of 65 can also apply for property tax credits through this program if their total household income is below $27,200 for single people or below $29,200 for married couples. The ...
This page was last edited on 17 November 2024, at 20:10 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Later, it says "as much as 30 to 40% of all new multifamily construction has received a subsidy under the program." (Again, misleading wording. The LIHTC is hardly a "program" and doesn't "subsidize" anything. Well, indirectly, I guess. In general, the language throughout mischaracterizes what a tax credit is.