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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.
The San Diego Housing Commission currently owns 2,221 affordable housing units and plans to expand that number in the future to meet the growing demand. [60] In 2009, the San Diego Housing Commission implemented a finance plan that created 810 more units of affordable rental housing through leveraging the equity of its owned properties.
You don't need to be a real estate investor to know that housing on the West Coast is outrageously expensive. The median rent in San Jose clocks in at a dizzying $3,064, according to Zillow. In...
Almost two years ago, Walt Disney World announced it was dedicating nearly 80 acres of land for a new affordable housing project in Orange County, which would include about 1,400 units of mixed ...
Lack of affordable housing and high interest rates have put a major financial strain on Americans. The median price of a single-family home was $445,000 in June, according to Realtor.com -- nearly ...