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The number of families using housing choice vouchers went up by more than 40,000 from October through May, according to the latest data available from HUD. Housing choice is restricted when rents ...
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 families either pay a monthly rent or may purchase the housing unit for an affordable price. [2] Site acquisition or improvement – In this type of activity, HOME funds purchase property that is later developed as affordable housing. This activity also covers the improvement and rehabilitation of current affordable housing. [2]
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 Wisconsin Housing and Economic Development Authority and Pennsylvania Housing Finance Agency, for instance, have agreed to cap annual rental increases to 5% per year for federal- or state ...
With U.S. home prices surging to historic highs and rents rising across the country, lawmakers are once again taking aim at rent control legislation to promote more affordable housing. See: Rental...
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