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 ?
Senator Hassan also signed onto the bipartisan Save Affordable Housing Act to close a loophole that currently allows owners of affordable housing property supported by the Low-Income Housing Tax Credit to convert reduced-price units into market rate units after just 15 years.
Low-income housing is for those individuals who require bare essential living space.
Under the federal low-income housing tax credit system, states are allocated set amounts of credits, and each state awards the credits to selected projects.
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.
The $26 million project--at $400,000 per apartment--will be financed by a $7 million New York Restore grant; $10 million in federal grants from the Home and Low Income Housing Tax Credits Program and $6.5 million from the New York State Low-Income Housing Tax Credit Program.
TELECOMWORLDWIRE-May 13, 2014-Cardiff International plans purchase of low-income housing project
There, the court held that low-income housing tax credits (LIHTC) and accompanying property restrictions affect the amount that a willing buyer would pay to purchase real estate and thus the fair market value of the property.
A CORPORATION THAT DISPOSES OF REAL PROPerty may be required to increase its tax liability by the amount of recaptured credits with respect to that property, specifically, via a recapture of the investment tax credit or the low-income housing credit.
Use our interactive map to view the roughly 70 low-income housing projects that bypassed the state's point system and got board-approved for coveted tax credit subsidies over the last decade - subsidies worth a combined $660 million.
will use $686,300 in federal low-income housing tax credits and another $3,373,913 in program subsidies from the Department of Housing and Community Development for the adaptive reuse of a historic building.
The Wisconsin Housing and Economic Development Authority established the WHEDA Emerging Business Program to encourage the involvement, utilization, and development of emerging businesses in the planning, design, and construction of low-income housing tax credit developments.
Affordable housing development fuels economic gains in distressed neighborhoods, according to a new study of New York low-income housing. The study, commissioned by Local Initiatives Support Corporation (LISC) and Enterprise Community Partners, shows affordable housing development is a proven economic stimulus that can expand neighborhood spending power, raise surrounding property values, and help low-income families stabilize their financial situations.

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