To reach a 64 percent/36 percent proportionate allocation of tax subsidies, rental tax subsidies would need to be allocated an additional $350B.
All Housing Credit developments are now underwritten using a floating rate, meaning there is 15 to 20% less equity available for any given property.
The reduction to the MID proposed by Chair Camp would be phased-in over four years, becoming $500,000 in 2018 and would be applied to new mortgages.
Enterprise has put together a comprehensive must read summary of the “2014 Election: Implications for Key Housing and Community Development Policy.”
Both bills include a Housing Credit allocation of $8 per person in the qualifying disaster area and NJ’s allocation would be $70.8M.
There is a blueprint and we can move forward so that one day none of the men and women who have served our country find themselves without a home.”
To mark the 27th anniversary of the LIHTC, the Bipartisan Policy Center Housing Commission has published 13 commentaries highlighting the federal program’s success factors and lessons learned.
Seven million people in the U.S. rely on subsidized housing to prevent them from becoming homeless and many of them work but still cannot affordable rent.
H.R. 3145 is legislation to permit students who were formerly homeless, including formerly homeless veterans, to live in Low Income Housing Tax Credit (LIHTC) housing.
Pascrell and LoBiondo with bipartisan support from NJ, NY and Connecticut called for quick passage of legislation to provide tax relief to struggling families recovering from Sandy.