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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.
The main Section 8 program involves the voucher program. A voucher may be either "project-based"—where its use is limited to a specific apartment complex (public housing agencies (PHAs) may reserve up to 20% of its vouchers as such [11])—or "tenant-based", where the tenant is free to choose a unit in the private sector, is not limited to specific complexes, and may reside anywhere in the ...
The apartment complex is located at 1670 Harrisburg Pike, Columbus, Ohio. The location was selected because of its proximity to public transportation, convenience shopping and employment opportunities for the residents. The apartments include 35 SRO units, a community space, computer lab for resident use and offices for 24-hour staffing.
The first public housing project in Columbus opened in 1940. Poindexter Village, established in the present-day King-Lincoln Bronzeville neighborhood, was also one of the first public housing projects in the United States. The development was successful in keeping families out of homelessness and poverty until the late 20th century, when it ...
Some 27% of renters pay more than half their income for housing. As of 2023, 54% of homeowners had incomes that were higher than their expenses. Just 39% of renters had positive cash flow.
The housing in Dennison Place remains mostly a mixture of Victorian-style construction from the late 1800s, including Queen Anne, Italianate and Grand Victorian homes. While some of these homes remain multi-family, Dennison Place has a high rate of owner occupancy that continues as families continue to move in and call Dennison their home.
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