Changing Partners
Deducts federal tax credits and depreciation on it's tax return from affordable housing properties.
What is the Tax Credit Investor?
Reduces social service costs by providing targeted health and social services and helps end the cycle of poverty.
What is Affordable Housing?
A protected Class for Fair Housing that starts with R.
What is Religion or Race?
130% Eligible Basis Boost.
What is a QCT or a DDA?
Benchmarks in various areas of the country in determining household income that is eligible for federally funded programs.
What is AMI (Area Median Income)?
Has the responsibility for the actions of the business, can legally bind the business and assumes all tax and debt liabilities.
Who is a General Partner or Managing Member?
Rental Assistance for homeless veterans and their families with case management and clinical services provided in tandem with HUD and the Department of Veterans Affairs (VA) at its medical centers and in the community.
What is a VA Housing Voucher (HUD-VASH)?
A building that contains at least two different types of uses in it (i.e. commercial and residential).
What is a Mixed-Use building?
All relatable construction/rehabilitation costs and the cost of common areas and amenities to all residential units in the building.
What is included in Eligible Basis?
Indirect federal subsidy used to finance affordable rental housing.
What is LIHTC (Low Income Housing Tax Credit)?
An entity that connects private investors, seeking a strong return on investments, with developers seeking cash for a qualified LIHTC project.
What is a Tax Credit Syndicator?
The first two numbers in a BIN Code
What identifies what State the BIN (Building Identification Number) is located in?
Developers can choose to serve households with incomes up to 80% of the Area Median Income (AMI), as long as at least 40% of the units are both rent-restricted and occupied by households with incomes that do not exceed the average of 60% AMI
What is Income Averaging?
The Year of the Birth of the Section 42 Program.
What is 1986?
The largest federal block grant program available to states from HUD to provide decent and affordable housing.
What is HOME?
Locally controlled agency that receives funds directly from HUD and controls most of the affordable housing resources.
What is a PHA?
The trend that people (especially seniors) are choosing to downsize the space they live in, simplify, and live with less. Embracing the philosophy and the freedom that accompanies simple living in a smaller space.
What is the Tiny House Movement?
A family member who is under 18 years of age or a person of any age who is a person with a disability or a full-time student, except that the following persons can never be this: the head of household, spouse, co-head, foster children/adults and live-in aides.
What is a Dependent?
The gradual repayment of a mortgage by installments
What is Amortization?
The U.S. Department that determines Maximum LIHTC rents.
What is HUD (US Department of Housing and Urban Development)?
State Allocating Agency which offers a limited amount of below-market-rate home financing for low- and moderate- income households.
What is a Housing Finance Agency?
Any form of housing that is designed primarily for active growing families with school-aged children and working parents in high-cost locations.
What is workforce housing?
A Section 8 voucher holder, can never rent from these owners or properties.
What is a relative or properties owned by relatives?
At least 50% of the project's aggregate basis must be financed by volume cap tax-exempt bonds.
What is the 50% test?
Vouchers assigned to a property rather than the individual.
What is a PRA - (Project-Based Rental Assistance)?