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The median rent for a one-bedroom in Raleigh is $1,260 and $1,560 for a two-bedroom, The News & Observer reported late last year. More than 120,000 households in Wake County spend over 30% on ...
Nearly 29,000 low-income renters and 15,000 homeowners are “housing cost-burdened,” meaning they pay over 30% of their income on housing costs. Affordable Housing Preservation and Creation. In ...
The missing middle reforms that created 200 affordable homes will continue to gain momentum as long as City Council retains this powerful tool for providing diverse housing choices across the City.
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 ...
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.
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