low-income housing


Also found in: Acronyms.

low-income housing

(1) Generically, any housing that is limited to occupancy by persons whose family income does not exceed certain preset maximum levels.(2) For purposes of special tax incentives provided to persons who build or rehabilitate “qualified low income housing projects,”the IRS defines the term as (a) any project in which 20 percent or more of the units are both rent restricted and occupied by persons whose income is 50 percent or less of the area median gross income or (b) one in which 40 percent or more of the units are both rent restricted and occupied by persons whose income is 60 percent or less of the area median gross income.

References in periodicals archive ?
is a trusted syndicator of low-income housing tax credits (LIHTC) that provides financing and equity for affordable multifamily housing throughout the US and its territories.
6 million; HOME, $235,469; Community Investment Fund (CIF), $431,495 and the State and Federal Low-Income Housing Credit Programs.
The court, however, found that the value of the tax credits were properly included in the valuation because, "the right to claim the low-income housing tax credits goes to the owner of the LIHTC property and this right cannot be separated from the land.
Both Eugene and Springfield need more low-income housing - two years ago HACSA had 3,000 households waiting an average of 18 months for its 1,363 units.
The low-income housing tax credit development participation initiative encourages the utilization of emerging businesses in the planning, design, and construction of low-income housing tax credit developments.
Planning tip: Under the passive activity loss rules, the low-income housing credit is the only credit a high-income taxpayer can use that will offset up to $25,000 of income without reference to the taxpayer's AGI.
But low-income housing advocates pushed the council to adopt the new relocation funds and said they were concerned that the fees could be reduced in last-minute negotiations.
We had scientists who do housing research, and we had several members who were very familiar with low-income housing and were advocates for people in low-income housing.
The Enterprise Foundation will provide up to $75 million in private equity to developers from the sale of low-income housing tax credits.
5 million in fees on the GSEs so it could better enforce its affordable and low-income housing regulations.
Low-income housing tax credits (produced about 700,000 units) provide tax incentives for private equity investment and are often used in conjunction with other federal, state, and local government and private subsidies in the production of new and rehabilitated affordable housing units consistent with state-determined housing priorities.

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