Projects such as these serve to help to improve communities and provide many North Carolinians with job opportunities in construction and related industries. Additionally, they add greatly to local tax bases.
Low-Income Housing Tax Credits
Authorized by Congress in 1987, federal Low-Income Housing Tax Credits (Housing Credits) now finance virtually all the new affordable rental housing being built in the United States. Housing Credit rental properties are privately owned and privately managed. In exchange for the financing provided through the tax credit, owners agree to keep rents affordable for a period between 15 and 30 years for families and individuals with incomes at or below 60% of the local median income. Learn more at www.nchfa.com.