Affordable Housing, Community Development, Housing Policy Briefs

AARP Factsheet Underscores Critical Role of the Low-Income Housing Tax Credit

AARP
 

The AARP Public Policy Institute recently published a factsheet underscoring the critical role the Low Income Housing Tax Credit (LIHTC) program has on the development of affordable housing. 

LIHTC allows private market investors to purchase tax credits from developers, those tax credits are then used to offset the investor’s federal tax liability. LIHTC developments are subject to both deed and income restrictions to ensure rents remain affordable for the project's tenants. 

The factsheet points to LIHTC as an important tool for older individuals who wish to age in their community but can no longer afford high housing costs. Of LIHTC properties, approximately 30% of residents are 62 years or older. AARP supports creating more flexibility in development and increasing funding in order to meet the demand of affordable housing. Lastly, AARP recommends states require universal designs in order to accommodate individuals of all mobility levels.

Click here to read the factsheet. 
 

 
 

Filter News By