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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.
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The low-income housing tax credit funds most affordable housing projects across the country. To receive funding from the credit, the units created must be affordable for residents earning no more ...
In the United States, 80/20 housing is multifamily housing program that meets federal guidelines for tax-exempt financing. [1] 80/20 housing developments reserve 20 percent of units as affordable housing, only to be rented by low-income residents, leaving the remaining 80 percent of units to be rented at the typical market rate. [2]
Four prospective affordable housing developments in Fort Worth have received $2 million each in tax credits from the state’s public housing authority.. The grants, announced Thursday, provide a ...
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