Arlene Conn, PHADA Policy Analyst
Following are a number of updates on a variety of issues related to the Low Income Housing Tax Credit (LIHTC).
The Low Income Housing Tax Credit Beyond Year 30
As previously reported in the Advocate in late 2018, 2020 marks the first year of a decade in which nearly approximately half a million LIHTC units will reach the end of all federally mandated rent-affordability and income restrictions. A 2018 Report from the National Low Income Housing Coalition and the Public and Affordable Housing Research Corporation (PAHRC) uses information from the National Housing Preservation database and other sources and finds that these LIHTC units, which are located in over 8,400 properties, do not receive other types of subsidies that would extend their affordability. In addition, a significant number of these units need rehabilitation if they are to remain viable and/or marketable.
HUD’s Policy Development and Research arm published an article this month following a webinar presented by PAHRC and the Coalition in October of 2019 in which staff discussed the implications of these expiring affordability restrictions under LIHTC, including the following issues:
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