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The tenants of the new units will pay 30% of their monthly income as rent. In all, through the Lexington Affordable Housing Fund, the city has supported the opening of 401 affordable units this ...
In all, Lexington needs more than 22,549 additional housing units to meet housing demand. The vast majority—17, 005 — needs to be affordable units. Because of the shortage, Lexington rents ...
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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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. ...
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