Search results
Results from the WOW.Com Content Network
This increase creates obstacles for the financial feasibility of affordable housing developments, as affordable housing financing is far more complex than market-rate housing. Funding involves hard loans from banks accompanied by multiple state [15] [16] and municipal grants, [9] all of which are difficult to qualify for and obtain as there are ...
Scattered-site housing programs are generally run by the city housing authorities or local governments. They are intended to increase the availability of affordable housing and improve the quality of low-income housing, while avoiding problems associated with concentrated subsidized housing. Many scattered-site units are built to be similar in ...
The down payment can help fund new housing or the rehabilitation of a family's existing housing. [2] Building or rehabilitation of housing for rent or ownership – In this type of activity, HOME funds may fund the building of housing units that the government provides to low-income families. The families either pay a monthly rent or may ...
Several major cities also secured funding for affordable housing initiatives. Los Angeles voters approved a new half-cent sales tax for housing development, while Charlotte, North Carolina, passed ...
The Biden administration is unveiling steps to increase affordable housing as home and rent costs continue to rise. Treasury Secretary Janet Yellen will announce new initiatives Monday to address ...
Funding for affordable housing will come from state's budget surplus State Sen. Vince Hughes, D-Philadelphia, said the executive order was once a bill that was introduced in the state legislature ...
The Trust Fund is intended to complement existing federal funding sources for affordable housing. By law 90% of fund are to support activities that build, preserve, repair, and operate rental housing for low-and very-low income households.
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.