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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 first public housing project in Columbus opened in 1940. Poindexter Village, established in the present-day King-Lincoln Bronzeville neighborhood, was also one of the first public housing projects in the United States. The development was successful in keeping families out of homelessness and poverty until the late 20th century, when it ...
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 ...
Dec. 26—COLUMBUS — The Ohio Department of Development today announced the release of more than $3.6 million to support community enhancement projects and business growth. During its Monday ...
The City of Columbus has designated a portion of the Hilltop as a Community Reinvestment Area that is "ready for revitalization", with available 15-year, 100 percent tax abatements for all projects that include 10 percent affordable housing, with options to buy out of the requirement.
The City of Columbus has designated the Near East Side as a Community Reinvestment Area that is "ready for revitalization", with available 15-year, 100 percent tax abatements for all projects that include 10 percent affordable housing, with options to buy out of the requirement.
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