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A goal that stretched more than five years is headed toward reality as the city of Ames prepares to build nearly 40 low-income housing units near the Iowa State University campus.. The city is ...
Iowa City Mayor Bruce Teague speaks to the crowd after the city received a $3.75 million Pathways to Removing Obstacles to Housing grant from the U.S. Department of Housing and Urban Development ...
Iowa City's South District Investment Partnership Program is helping to provide low-income residents with the opportunity to own a home. Iowa City is working to help low-income families become ...
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
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 ...
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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