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In 1936, the Louisiana Legislature passed the Housing Authority Act, allowing for the creation of the Housing Authority of New Orleans and paving the way for the city to participate in the national low-rent housing program. Some of the first developments broke ground between 1938 and 1940 over slums and old stores in the Tremé and Uptown area ...
Construction of phase III began in 2013 at a cost of $61 million, through the use of $26 million from HANO, $21.9 million from FEMA, and $13.1 million in Low Income Housing Tax Credits. Gibbs Construction and Colmex Construction completed the development of the new one, two, three and four bedroom units, which include Energy Star appliances ...
Lafitte was constructed in 1940 and opened in August 1941 with 896 units housing 3,000 tenants. It was one of the first housing projects for African Americans in Louisiana. During its early years, it was labeled as the largest and finest U.S. Housing Authority low-rent project in the South.
It is the largest Federal block grant to states and local governments designed exclusively to create affordable housing for low-income families, providing approximately US$2 billion each year. [ 2 ] The program is commonly referred to as the Home Investment or Home Partnership Program, and is often operating in conjunction with other housing ...
Compounded with the effects of the Great Recession, this led to a national housing crisis, with market-rate rents becoming unaffordable to middle- and lower-income families in many major American cities. LISC offices responded to the crisis by working to preserve affordable housing and prevent displacement. [41] [42] [43]
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The call for public housing was met by the federal government with the U.S. Housing Act of 1937 while the Great Depression was taking a toll on the poor and unemployed in America. The government officials in New Orleans were the quickest act and immediately received the funding to build the initial six housing complexes in the city.
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.