The Hodge, at 7th and P NW, was built using Low-Income Housing Tax Credits.
This article was first published on January 9, 2017. We love being able to talk about and break down complex concepts and wanted to share this piece with you again. Figures are reflective of the original publishing date.
The Hodge, a 90-unit housing development in Shaw, offers affordable apartments for seniors in the District. To create these apartments, developers of the Hodge used the Low-Income Housing Tax Credit (LIHTC) program to partially finance the project. This post explains how the LIHTC works.
The LIHTC is the largest federal program for the production and rehabilitation of affordable housing. Unlike the Housing Choice Voucher (HCV) program, which helps low-income families pay their rent, the LIHTC program subsidizes the construction of apartments that rent for below market rate.
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Senators introduce Neighborhood Homes Investment Act to expand homeownership opportunities and revitalize communities
500,000 deteriorated homes could be renovated and resold under the new Senate bill
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WASHINGTON, Jan. 28, 2021 /PRNewswire/ Bipartisan legislation introduced today would create a new federal tax credit to fuel development and rehabilitation of single-family homes and attract $100 billion in development activity to underserved rural and urban communities across the country.
The Neighborhood Homes Investment Act (NHIA), introduced by Senators Ben Cardin (D-MD) and Rob Portman (R-OH), and co-sponsored by Senator Tim Scott (R-SC), Senator Todd Young (R-IN), Senator Chris Coons (D-DE) and Senator Sherrod Brown (D-OH), would encourage private investment in an estimated 500,000 homes that currently cannot be developed or rehabilitated because the costs to do so exceed the value of the home. The tax credit supp
Ohio housing groups are watching a federal tax credit proposal designed to bridge appraisal gaps
Neighborhood Homes Coalition
A map shows Census tracts in Greater Cleveland that would qualify for tax incentives for single-family housing under the Neighborhood Homes Investment Act. The bill would create a federal income tax credit designed to spur investment in new and renovated homes in communities with high poverty rates and depressed real estate values.
A bipartisan group of senators on Capitol Hill revived legislation this week to create a new federal tax credit meant to bolster investment in single-family homes in low-income neighborhoods a proposal being closely watched by housing advocates and community development groups across Ohio.
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