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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.
Another state that offers its own LIHTC program is Missouri. Implemented in 1992, Missouri now matches every dollar of federal LIHTC incentives, and its recent experience offers us a glimpse into ...
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 ...
Historically, the state was a swing state, voting for the national winner all but four times from 1816 to 1912, with the exceptions of 1824, 1836, 1848, and 1876. [9] Nonetheless, half of Indiana's governors in the 20th century were Democrats. Indiana has also elected several Democrats to the Senate in recent years.
This program has done well over the years in receiving funding to help lower income families. The Low-Income Housing Tax Credit (LIHTC) was added to TRA86 [clarification needed] to provide some balance and encourage investment in multifamily housing for those in need of affordable rental housing options. Over the subsequent 20 years, it has ...
The program was the legislative response to riots that erupted in 1992 in Los Angeles after justification of police officers charged in the beating of an African-American motorist during the arrest. [3] The Community Renewal Tax Relief Act of 2000 authorized the creation of 40 renewal communities and created the New Markets Tax Credit Program. [4]
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