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With its latest ribbon-cutting, Lexington has now opened more than 400 affordable housing units so far this year. Gleanings Housing Inc., a local affordable housing non-profit, cut the ribbon on a ...
The vast majority—17, 005 — needs to be affordable units. Because of the shortage, Lexington rents have jumped 47% from 2019 to 2024. Report: Lexington needs 17,000 more affordable housing units.
The last time the city conducted an affordable housing study was in 2014. The study’s findings helped launch Lexington’s affordable housing fund. How much affordable housing does Lexington need?
Kentucky Housing Corporation was created in 1972 as a state housing finance agency by the General Assembly under the Mae Street Kidd Act with a $150,000 appropriation. In 1973, KHC originated its first bond issue totaling $51.2 million and received its first allocation from the United States Department of Housing and Urban Development (HUD) for 623 Section 8 New Construction units totaling $1. ...
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.
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 ...
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The Louisville Metro Housing Authority is the government agency in Louisville, Kentucky that is charged with providing affordable housing and financial aid to homeowners and renters. It was formed in 2003 from the merger of the Housing Authority of Louisville and Jefferson County Housing Authority.