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The federal grant program that sustains the development requires apartments to be rented out exclusively to low-income tenants — some of whom are at or below 30% of the area median income, some ...
Fairfax Intergenerational Housing project, also known as Griot Village, located in Cleveland, Ohio, is a specialized housing development for intergenerational households, the first of its kind in Ohio. [1] The project is designed according to Enterprise Green Community standards for seniors, ages 55 and older, who have legal custody of children.
The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve. Of the total 4.6 million units in the social housing ...
t. e. Subsidized housing is government sponsored economic assistance aimed towards alleviating housing costs and expenses for impoverished people with low to moderate incomes. In the United States, subsidized housing is often called "affordable housing". Forms of subsidies include direct housing subsidies, non-profit housing, public housing ...
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v. t. e. The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [ 1] The program was created under the Tax Reform Act of 1986 (TRA86) to incentivize the use of ...
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