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State grants. The U.S. Department of Housing and Urban Development (HUD) offers assistance programs and community development grants for homeowners in each state. Each grant, including award ...
The Home Investment Partnerships Program (HOME) – This HUD program provides grants to state and local governments that can be used to create affordable housing options for low-income households ...
With more than 7,000 employees and a budget of $68.7 billion, the United States Department of Housing and Urban Development (HUD) is an executive Cabinet department whose secretary reports ...
Permanent, federally funded housing came into being in the United States as a part of Franklin Roosevelt's New Deal. Title II, Section 202 of the National Industrial Recovery Act, passed June 16, 1933, directed the Public Works Administration (PWA) to develop a program for the "construction, reconstruction, alteration, or repair under public regulation or control of low-cost housing and slum ...
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.
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.