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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.
In terms of benefits of the LIHTC program, a 2011 analysis published in the Housing Policy Debate journal found that increases in the use of tax credits are linked to reductions in racial segregation in metropolitan areas. [34] This means that LIHTC projects do not tend to lead to increased segregation, even in areas with elevated poverty levels.
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
Permanent, federally funded housing came into being in the United States as a part of Franklin Roosevelt's New Deal. Title II, Section 202 of the National Industrial Recovery Act, passed June 16, 1933, directed the Public Works Administration (PWA) to develop a program for the "construction, reconstruction, alteration, or repair under public regulation or control of low-cost housing and slum ...
ULC utilizes a variety of real estate practices, including land banking and the practice of acquiring parcels of land for future development. [5] [6] They also use a community land trust (CLT) model with a 99-year, renewable ground lease to circumvent the expirations imposed by the city and federal Low-Income Housing Tax Credits (LIHTC). [7]
Keep an eye on standing water and on mushy areas around your yard. Remove all debris piles. Keep firewood on or in a proper holder and store it away from the house.
NEW YORK (Reuters) -Donald Trump may seek dismissal of the criminal case in which he was convicted in May of 34 felony counts involving hush money paid to a porn star, a judge ruled on Friday ...
President-elect Donald Trump joined SoftBank Group CEO Masayoshi Son to announce plans by the Japanese company to invest $100 billion in U.S. projects over the next four years. Trump announced the ...