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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 organization was founded in March 2006 by Liz McCartney and Zack Rosenburg, who previously lived and worked in Washington, DC. [3] [4] They came from a charitable background: Rosenburg's law office represented indigents and McCartney ran a nonprofit group, the Capitol Hill Computer Corner, which trained the economically disadvantaged in computer skills. [4]
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
Rent prices are also 63.4% less than they are in New York. Spring Hill has an interesting blend of local historical sites, rustic countryside, and local shops. The cost of housing is a bit higher ...
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 ...
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