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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, 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]
Approximately 200 housing units serve individuals who are disabled or require attention for special needs such as mental illness, alcohol and drug abuse, developmental disabilities or HIV/AIDS and related illnesses. 240 units serve senior citizens. 75% of our housing units serve families or individuals earning less than 30 percent of the area ...
In Michigan, the owner-occupied housing rate grew slightly from 73.2% in 2022 to 73.7% in 2023, the data shows, and, nationally, the owner-occupied rate was about 65% last year. ... about 50% of ...
MSHDA was created as a result of the State Housing Development Authority Act of 1966 (Act 346 of 1966). [1] The purpose of this act was to establish funds in housing development, land acquisition and development, rehabilitation, conversion condominium fund, and to provide for the expenditure of certain funds.
Workforce housing can refer to any form of housing, including ownership of single or multi-family homes, as well as occupation of rental units. Workforce housing is generally understood to mean affordable housing for households with earned income that is insufficient to secure quality housing in reasonable proximity to the workplace.