Sign On Today to Strengthen Affordable Housing Funding
When Congress returns on November 12, 2014, it will consider extensions of dozens of expired tax provisions, including minimum Low-Income Housing Tax Credit (LIHTC) rates.
The ACTION Campaign, of which Monarch Housing is a member, has organized a sign-on letter calling on Congress to extend the minimum 9% Housing Credit rate for new construction and substantial rehabilitation and establish a minimum 4% rate for the acquisition of affordable housing before it adjourns for the year. The letter notes that extending these provisions for at least two years would significantly strengthen LIHTC at virtually no additional cost to taxpayers.
There is a clear national need and a need here in New Jersey for affordable rental homes, and with over 26 years of demonstrated success, the Housing Credit is the nation’s most powerful tool that can be used to address this challenge.
The mission of the ACTION Campaign is to protect and preserve the Housing Credit as a means of providing a wide variety of affordable rental housing options to low- income working families in communities across the nation.
Click here to join Monarch Housing in signing this important letter.
Click here for more information about the ACTION network.