Mayor Lori Lightfoot's administration is changing the rules for how the city allocates federal low-income housing tax credits
to confront an affordable housing crisis that has left Chicago 120,000 units short.
The development will be funded through bond financing and Low-Income Housing Tax Credits
(LIHTC), as well as with subsidies from New York State Homes and Community Renewal and NYC HPD's SARA program.
Additionally, the borrower received USD 5.9 million in tax credit equity via the sale of 4% Low-Income Housing Tax Credits
In its sixth survey of owners of properties financed with federal low-income housing tax credits
from the Low-Income Housing Tax Credit
(LIHTC), CohnReznick found that housing tax credit properties are operating better than any period in the program's history, an encouraging sign as the study also details the rising number of low-income renters who need affordable housing.
Competition for the low-income housing tax credits
Housing Visions received $1.2 million through the Low-Income Housing Trust Fund Program; $1 million through the HOME Capital Program; and $727,000 in federal low-income housing tax credits
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.
Patrick announced May 9 that Paxton's senior housing project, planned for 30 acres of town-owned land on Holden Road, was one of 31 across the state that had been granted federal subsidies and state and federal low-income housing tax credits
The Arkansas Development Finance Authority has awarded $6.99 million in federal low-income housing tax credits
, another $250,000 in state tax credits and $8.65 million in federal HOME program funds to help in the construction or renovation of 22 affordable rental developments throughout Arkansas.
The Enterprise Foundation will provide up to $75 million in private equity to developers from the sale of low-income housing tax credits
. Enterprise will also provide up to $500,000 in grants and loans for the pre-development, acquisition and construction of projects that meet specific green building standards.
A developer convinced the county to issue the bonds after he received a large investment by a major oil company that would receive $8 million in federal low-income housing tax credits
in exchange for an investment of $7 million in the project.