Massachusetts-Based Affordable Housing Developer Involved in the Acquisition, Development & Real Estate Asset Management of LIHTC Properties. Real Estate Investor, LIHTC, real estate, affordable housing developers, affordable housing, real estate asset management, real estate.
What is LIHTC?
LIHTC stands for low income housing tax credit. This is section 42 of the Internal Revenue Code. Passed in 1986, its purpose is to provide an economic incentive and mechanism to build and renovate affordable housing. This program has been very successful in meeting its objective as thousands and thousands of apartment units have been constructed via this program.
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There are two primary low income housing tax credit programs that account for the vast majority of the real estate transactions in this specific industry. The 4% tax credit and the 9% tax credit. The 4% tax credit is used with private activity bonds (and sometimes Section 8) to finance these transactions while the 9% tax credit is used with conventional debt to finance these transactions.
Each state administers this program by issuing a document called the Qualified Allocation Plan. Or the QAP. The priorities of each state is discussed in these plans and the QAP is updated yearly as priorities change. This is a extremely large subject and worth your time to learn more.
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