Since 1986, the federal government has used low-income housing tax credits (LIHTC) to indirectly subsidize the development of affordable housing. Credit assigned to state and local governments and developers subsequently received low-income housing. The tax credits are sold to investors, developers, and use the money in order to finance their projects. Reducing the amount of money they have borrowed, developers can significantly reduce the price of renting or buying each unit.
The Louisiana Housing Finance Agency recently issued a statement outlining its intention to make available additional tax credit money for development projects current. About $ 36 million has been allocated by the Agency for this purpose.
More money has been allocated for the purpose of helping developers and investors to pay the higher costs associated with existing LIHTC projects. LIHTC only those who received between 1 October 2006 and September 30, 2009 qualify for extra money. Additional funds are limited 1 million dollar project.
Requests for additional funds because of the Louisiana Housing Finance Agency late last summer. Each application is classified on the based on a predetermined set of punctuation, and classification have been published in the autumn. presentations application had to include an updated version of the model certificate AMEC, a detailed list of costs to be covered by additional funding and the agreement that the growth rate will remain unchanged regardless of any additional money received.
By offering additional tax credits, Louisiana tried to ensure the implementation of the projects already started. There is no indication yet whether the additional credits will be available this year or if other states follow the example of Louisiana.
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Re: Louisiana Super Dome Covered In Oil
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