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Newly constructed rental housing must remain affordable for at least 20 years. [7] For owner-occupied housing (newly constructed and remodeled), acquired rental housing, and remodeled rental housing, the minimum affordability term ranges from 5 to 15 years depending on the amount of funds received in relation to the number of assisted units. [14]
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 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 ...
American Campus Communities, Inc. (ACC) is the largest developer, owner and manager of student housing communities in the United States. [2] It is headquartered in Bee Cave, Texas , with an Austin postal address.
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The Fayette County Housing Authority oversees federal and state housing facilities, as well as Section 8 rentals in Fayette County, Pennsylvania. FCHA oversees [1] 1,323 public housing units as well as 1,104 Section 8 rentals.