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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 City of Columbus has designated the Near East Side as a Community Reinvestment Area that is "ready for revitalization", with available 15-year, 100 percent tax abatements for all projects that include 10 percent affordable housing, with options to buy out of the requirement.
8 East Broad Street is a building on Capitol Square in Downtown Columbus, Ohio.Built in 1906, it was the tallest building in the city until the LeVeque Tower was built in 1927.
Utah also taxes pension income and income from retirement accounts at the state's flat income tax rate of nearly 5%, with seniors able to claim a small credit to offset the cost.
The City of Columbus has designated the Short North, along with portions of Italian and Victorian Villages as a "market ready" Community Reinvestment Area, with available 15-year, 100 percent tax abatements if projects include 10 percent affordable housing, with options to buy out of the requirement.
The tax relief helps incentivize affordable housing developments that otherwise may not be feasible. Of the 10,000 units built or preserved, 6,115 are completed and 3,898 are under construction.
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