Sentences with phrase «of affordable rental housing»
The program fits its mission to support liquidity, stability and affordability, since small multifamily properties are a major source of affordable rental housing.
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It's an urgent problem, and that's why Freddie Mac's financing aims to preserve the supply of affordable rental housing by driving capital into the affordable and workforce housing space.
The Low Income Housing Tax Credit (LIHTC) was created to promote the development of affordable rental housing for low income individuals and families.
The city has $ 98 million in contracts out with such building owners, who ironically are chipping away at the stock of affordable rental housing by repurposing their buildings for temporary quarters for the city's homeless.
It will involve the new construction of 11 buildings and the rehabilitation of 14 existing one and two - family houses to create a total of 49 units of affordable rental housing for low income individuals and families.
As you see some of that growth in the single - family market getting kind of transmitted over to multifamily, that's just putting greater pressure on household budgets and incomes, and the declining stock of affordable rental housing.
This article discusses the recent tax bill cleared by Congress, which makes the Low - Income Housing Tax Credit more generous and easier to finance the construction of affordable rental housing.
The luxury apartment market has been overbuilt, while a shortage of affordable rental housing is worsening, economists warn.
Additionally, NAR supports the GSEs contributing to the preservation of affordable rental housing by ensuring a strong secondary mortgage market for affordable rental housing to meet the high demand across the country and development continues to lag behind.
A founding member of Funding Partners for Housing Solutions, Norton works to provide nonprofit bridge and construction loans to the developers of affordable rental housing in eight counties along Colorado's Front Range, including Denver.
Betancourt: There is a lack of affordable rental housing, especially at the lower income levels.
The Low Income Housing Tax Credit (LIHTC) is the most effective tool for the creation of affordable rental housing.
«Towns without a sufficient supply of affordable rental housing discourage businesses from locating or expanding there.
«The House bill also severely diminishes the effectiveness of the Low - Income Housing Tax Credit (LIHTC), which is essential to spur the production and rehabilitation of affordable rental housing,» MacDonald said.
«Given these data, it is critical for policymakers at all levels of government to prioritize the preservation and development of affordable rental housing as there are simply not enough quality, affordable rental units to provide housing for the millions of households paying over half their income in rental costs.»
Contribute to our mission to ensure an ample supply of affordable rental housing.
Assemblywoman Crystal Peoples - Stokes said: Bellamy Commons is an adaptive reuse win - win for its tenants and the surrounding community as it includes 30 units of affordable rental housing, a museum, and the local offices of the NAACP.
As part of the Tax Reform Act of 1986, the United States Congress created the Low Income Housing Tax Credit (LIHTC)(IRC Section 42) Program to promote the development of affordable rental housing for low - income individuals and families.
The nonprofit housing group, which launched in the early 1980s, has provided almost 1,600 units of affordable rental housing and, on the home ownership side, given almost 1,000 families, many of them earning less than $ 20,000 a year, the chance to use their sweat equity rather than their few saved dollars to buy.
The Low - Income Housing Tax Credit (LIHTC) plays a critical role in the housing market by ensuring a supply of affordable rental housing.
In addition to ensuring the supply of affordable rental housing, the Low - Income Housing Tax Credit (LIHTC) supports jobs and provides benefits to the economy, reports the National Association of Home Builders (NAHB).