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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 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.
MSHDA was created as a result of the State Housing Development Authority Act of 1966 (Act 346 of 1966). [1] The purpose of this act was to establish funds in housing development, land acquisition and development, rehabilitation, conversion condominium fund, and to provide for the expenditure of certain funds.
Recognizing the financial pain felt by millions of working families, President Biden has proposed a $10,000 tax credit for first-time homebuyers and people who sell their starter homes. Don’t miss
National Equity Fund, Inc. was founded by the Local Initiatives Support Corporation to be one of the first LIHTC syndicators, following the creation of LIHTC in the Tax Reform Act of 1986. LIHTC provides investors in affordable housing a dollar-for-dollar reduction in federal taxes in exchange for equity in new or refurbished affordable housing ...
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In Michigan, townships are a statutory unit of local government, meaning that they have only those powers expressly granted by state law, any power fairly implied by state law, and those powers essential to the township's existence. They are the most basic form of local government in Michigan, and should be distinguished from survey townships ...
An enlargeable map of the state of Michigan. Names Common name: Michigan. Pronunciation: / ˈ m ɪ ʃ ɪ ɡ ən / ⓘ Official name: State of Michigan; Abbreviations and name codes; Postal symbol: MI; ISO 3166-2 code: US-MI; Internet second-level domain: .mi.us. Nicknames The Great Lakes State (previously used on license plates)