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Plans are to renovated the building into 26 units of "Permanent Supportive Housing". [5] Permanent Supportive Housing combines affordable housing, health care, and supportive services to help individuals and families lead stable lives. [6] The project is planned for completion by late 2018. [5] [7] On February 27, 2019, The Saint Rita ...
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 ...
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, 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 Downriver cities of Ecorse, Gibraltar, River Rouge, Riverview, Trenton and Wyandotte, as well as Brownstown Township, are directly bordered by the Detroit River. Grosse Ile is an island community located in the middle of the Detroit River between mainland Downriver communities and the Canadian towns of LaSalle and Amherstburg, Ontario.
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.
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