Housing Flashcards
1
Q
Low Income Housing Tax Credit (LI-TEC)
A
Note: not a HUD program
Largest funding source for affordable housing
Tax Reform Act (1986)
Allows investors to take a federal tax credit, developer can sell to private businesses that have tax liability, which funds developer to build the affordable housing
Competitive allocation via State Qualified Allocation Plans (QAP)
National Housing Trust Fund (2008) managed my HUD
9% credits v. 4% credits
