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v. t. e. The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [ 1] The program was created under the Tax Reform Act of 1986 (TRA86) to incentivize the use of ...
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 ...
Section 8 of the Housing Act of 1937 ( 42 U.S.C. § 1437f ), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
The Weatherization Assistance Program (WAP) serves low-income individuals and families who live below the poverty line. The program is funded by the U.S. Department of Energy and was recently ...
The federal grant program that sustains the development requires apartments to be rented out exclusively to low-income tenants — some of whom are at or below 30% of the area median income, some ...
An affordable housing complex serving seniors in downtown Columbia has been sold, forcing its low-income residents to find new homes. The buyer is pitching a $1.4 million restoration of the ...
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