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Kentucky Housing Corporation was created in 1972 as a state housing finance agency by the General Assembly under the Mae Street Kidd Act with a $150,000 appropriation. In 1973, KHC originated its first bond issue totaling $51.2 million and received its first allocation from the United States Department of Housing and Urban Development (HUD) for 623 Section 8 New Construction units totaling $1. ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Section 8 (housing) Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
If housing is too expensive, policymakers must address the issues driving up costs. The Low-Income Housing Tax Credit, like so many other policies, merely throws taxpayer money at the problem. It ...
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
California. Number of affordable and available rental homes: 24 per 100 extremely low-income renter households. Extremely low-income renter households: 1,282,835. Extremely low-income renter ...
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