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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]
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 ...
v. t. e. The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [ 1] The program was created under the Tax Reform Act of 1986 (TRA86) to incentivize the use of ...
West Virginia. Number of affordable and available rental homes: 53 per 100 extremely low-income renter households. Extremely low-income renter households: 63,660. Extremely low-income renter ...
A goal that stretched more than five years is headed toward reality as the city of Ames prepares to build nearly 40 low-income housing units near the Iowa State University campus.. The city is ...
In a 2011 agreement, developers in Hamburg agreed to build 3500 new housing units per year and 30% of these units would only be available to low and middle income households. To support the developer's work, Hamburg's city government agreed to provide city-owned land and acquire privately owned land on which the units would be constructed.
An affordable housing complex serving seniors in downtown Columbia has been sold, forcing its low-income residents to find new homes. The buyer is pitching a $1.4 million restoration of the ...
However, in the US, the term is mostly used to refer to housing units that are deed restricted (for typically at least 30 years) to households considered Low-Income (80% of AMI), Very Low-Income (50% of AMI), and Extremely Low-Income (30% of AMI). These units are most often constructed by non-profit "affordable housing developers" who use a ...
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