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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.
In 2017, the median price of a home in California was more than 2.5 times the median in the U.S. as a whole, and in California's coastal urban areas, the shortage was greater than the inland areas, as demonstrated by the median prices of homes in those respective markets: $1.3M in San Francisco, $1M in San Jose, and $600k in Los Angeles, while ...
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.
A California lawmaker is leading the charge to make undocumented residents eligible for a popular state-backed home loan program, weeks before it gives out another $250 million in down payment ...
Under this California bill, undocumented immigrants would be eligible for up to $150,000 in state-supported home loans. Under this California bill, undocumented immigrants would be eligible for up ...
A proposal in the state Senate would increase California's renters' tax credit from $60 to $500 for eligible single tax filers, and more for those who are married or are single with dependents.
This graphic shows the year that cities around the San Francisco Bay Area are projected to reach their 2040 housing targets as defined in Plan Bay Area 2040 (housing units needed to provide sufficient housing for the projected population growth) - in 2018, San Francisco was projected to be 23 years late to meet its 2040 target. MTC director ...
[9] [11] [12] San Francisco Proposition N of 2002, colloquially known as Care Not Cash, was a San Francisco ballot measure sponsored by Supervisor Gavin Newsom designed to cut the money given in the General Assistance programs to homeless people in exchange for shelters and other forms of services.