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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.
Incentives include density bonuses, tax credits, fee waivers, and deferral programs. [33] Inclusionary zoning policies aim to promote socioeconomic diversity within communities and ensure that affordable housing is integrated into areas with a mix of income levels. [34]
This investment tax credit varies depending on the type of renewable energy project; solar, fuel cells ($1500/0.5 kW) and small wind (< 100 kW) are eligible for credit of 30% of the cost of development, with no maximum credit limit; there is a 10% credit for geothermal, microturbines (< 2 MW) and combined heat and power plants (< 50 MW). The ...
Developments bringing almost 200 units of affordable housing to the city of Greenville received federal and state tax credits, according to Bryan Brown, the Greenville Housing Fund's chief executive.
The president wants to increase the number of tax credits available for low-income housing developers and approve a $20 billion innovation fund for affordable housing expansion.
Keeping, and expanding the tax credit, is a good investment for taxpayers too. For every $1 that the state of South Carolina invests in affordable housing tax credits, $5 is realized in economic ...
The Tax Credit Assistance Program (TCAP) is a Federal housing grant program administered by HUD which assists Low Income Housing Tax Credit (LIHTC) projects funded during 2007, 2008 and 2009. The TCAP program is part of the American Recovery and Reinvestment Act which was signed by President Obama on February 17, 2009.
TWG used low-income housing tax credits to finance construction of The Fort at the Railyard and so it will set aside 187 of the 233 apartments for households that earn less than 60% of the area's ...
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