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It’s part of Durham Housing Authority’s vision to make affordable housing more equitable and economically sustainable. $40 million from feds will help Durham turn public housing into mixed ...
Symetta Williams, 62, hold a copy of a portrait of her late mother, Joyce Nichols, in her home on July 15, 2022, a day after the Durham Housing Authority named a new development after Nichols.
Durham approves 2 new housing developments near RDU airport ... price a small percentage of units as affordable for the next 30 years for those making less than 80% of the area median income. In ...
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.