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Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [33] However, while the LIHTC has expanded to provide the most new affordable housing in the United States, the program has received many criticisms and calls for its elimination.
Moving to Work (MTW) is a demonstration program for public housing authorities (PHAs) that provides them the opportunity to design and test innovative, locally designed strategies that use Federal dollars more efficiently, help residents find employment and become self-sufficient, and increase housing choices for low-income families.
Fannie Mae financed $11.5 billion in manufacturing housing community loans between 2020 and 2022, and since getting into the manufactured housing business in 2000 it has financed more than 1,700 ...
The concept "innovative financing for development" was first mentioned and introduced at the International Conference on Financing for Development in 2002. The Conference led to what is now called the Monterrey Consensus where signatories acknowledged "…the value of exploring innovative sources of finance provided that those sources do not unduly burden developing countries."
Compounded with the effects of the Great Recession, this led to a national housing crisis, with market-rate rents becoming unaffordable to middle- and lower-income families in many major American cities. LISC offices responded to the crisis by working to preserve affordable housing and prevent displacement. [41] [42] [43]
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