What is LIHTC? A housing subsidy program for low-income rental housing Created within Section 42 of the Internal Revenue Code A federal income tax credit.

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Presentation transcript:

What is LIHTC? A housing subsidy program for low-income rental housing Created within Section 42 of the Internal Revenue Code A federal income tax credit that is allocated by each state’s housing finance agency Each state receives an amount of credits annually in tax credits to allocate to projects, $2.15 per capita in 2011

What is LIHTC (continued)? Rental units with tenants earning no more than 60% of area median income Investors (CRA, mission, opportunity) earn dollar-for-dollar credits against their federal tax liability Price ranges mid-80s to over $1.00. Generally, tax credits are received over the first 10 years of operation

Longer Life Spans Means More Demand

Potential Policy Solutions Expansion of the LIHTC program. Fix credit percentage at 9% and 4%. HUD’s Rental Assistance Demonstration (RAD) program Visit: for more information. Alternative housing models? Shared housing Partnerships with health care providers

How are we helping housing providers prepare? Tools Available Now at Enterprise Green Communities Criteria emphasizes assessing health needs of residents Universal Design Specifications link the Criteria and accessibility