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A full-time employee who works year-round in the capital city can afford $942 in rent, according to the National Low Income Housing Coalition. Affordability shifts, based on the wages earned.
The move comes amid a major shortage in affordable housing in Tallahassee and a push by advocates for Blueprint funding to build more. ... who spend more than half of their income on ...
The complaint says the Tallahassee Housing Authority is mismanaging the relocation of hundreds of families from the South City apartment complex.
The LIHTC, established in 1986, stands as a groundbreaking departure from the typical structure of supply-side housing programs, which primarily relied on subsidizing low-income housing. As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [38]
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 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.