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The city is currently in the fourth phase of Emergency Rental Assistance to disburse $97 million toward past-due or upcoming rent payments and utility bills. Unlike most rental assistance programs ...
The federal government has approved two rounds of rental assistance, worth more than $46 billion total, that is slowly making its way to renters. ... In general the aid can help pay for back rent ...
The calm of the end of the month, where all your bills are paid and your bank account is steady, is short-lived. As soon as the first of the month comes knocking at your door, so does the knowledge...
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 ...
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.
NYCHA is a public-benefit corporation, controlled by the Mayor of New York City, and organized under the State's Public Housing Law. [6] [11] The NYCHA ("NYCHA Board") consists of seven members, of which the chairman is appointed by and serves at the pleasure of the Mayor of New York City, while the others are appointed for three-year terms by the mayor. [12]
In the face of sky-high rents, President Joe Biden is rolling out a new set of principles the White House is calling a "Renters Bill of Rights" in an effort to improve rent affordability and ...
There was a concern in the 1970s that residential housing construction was declining as people moved from New York City to the suburbs. [8] In response to this trend, the state passed the original 421-a tax exemption program in 1971, with the goal of encouraging the construction of more residential housing in the city. [9]