Twenty percent of the units for households earning no more than 50 percent of the area median income adjusted for family size or.Project owners must agree to set aside a certain percentage of the apartments, at least: MFA monitors projects annually to ensure that all these conditions remain in effect. Federal rules require the projects to be 1) located in New Mexico 2) permanent residential structures used year-round on a non-transient basis (except for nonprofit provided housing for the homeless) 3) subject to a low-income use restriction agreement 4) available to the general public and 5) in compliance with all applicable local, state and federal laws pertaining to handicapped accessibility and adaptability. Many types of rental developments qualify, but MFA establishes incentives to stimulate development of particular types of housing and prohibits others that do not meet MFA policy. Once an allocation is made and construction is completed, tax credits can be claimed annually for a 10-year period. To use this tax incentive, developers typically form limited partnerships with investors who contribute equity capital in exchange for tax savings. Tax credits provide direct federal income tax savings to individuals or corporations that invest funds in rental housing developments with apartments set aside for low-income households. Reservations Login - PowerLender (MFA LRS).General Loans, Grants and Funding Opportunities. ![]() Data Sources and Links to Housing Research.Affordable Housing Act Oversight and Monitoring. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |