Low Income Housing Tax Credits
The Low Income Housing Tax Credit (LIHTC) Program is a federal program designed to bring private investors into the affordable rental housing or low-income residential housing market. Normally, a developer will generate equity in a project by selling or syndicating credits to investors, who are able to utilize the federal and state credits. The amount of credits available is based on the cost of the development and the percentage of qualified low-income units that are credited within the project. The low-income units are restricted for fifteen years for low-income affordable housing.
Missouri Housing Development Commission (MHDC) has primary responsibility for this program in Missouri. Based upon their requirements, cost certifications and ongoing financial reporting is required to be submitted to MHDC for LIHTC projects.
For more details about Low Income Housing Tax Credits, contact Jeanette Bax-Kurtz, CPA at 314.862.2070. Or, e-mail firstname.lastname@example.org.