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Section 515 Rural Rental Housing is a USDA rural housing program authorized under Section 515 of the Housing Act of 1949 (42 U.S.C. 1485). The Rural Housing Service (RHS) is authorized to make loans to provide rental housing for low- and moderate-income families in rural areas. Though rarely used for this purpose, Section 515 loans may also be ...
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 Rural Housing Service (RHS) is an agency of the United States Department of Agriculture (USDA). Located within the Department's Rural Development mission area. RHS operates a broad range of programs to provide moderate- low- and very-low-income Americans in rural communities with:
Non-profit housing is owned and managed by private non-profit groups such as churches, ethnocultural communities or by governments. Many units are provided by community development corporations (CDCs). They use private funding and government subsidies to support a rent-geared-towards-income program for low-income tenants. [7] [8] [clarification ...
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 department spent nearly $770 million over the four years to help nearly 4,000 rural residents find affordable homeownership, helping more than 200 residents with affordable home repairs and ...