"affordable housing" "starting at $2,370 a month"https://twitter.com/Brownstoner/status/1414573591723663360 …
Show this thread
does the tax code that establishes tax breaks for affordable housing define "affordable" as "there exist people who can afford it"?
-
-
Typically, affordable = affordable to household making 60% area median income or less, paying no more than 30% of that AMI in rent. will see units anywhere from 15%-60% AMI. Some programs, you can go up to 80-120% of AMI. Rents & incomes published by HUD annually.
-
Ah. Clicked through and this is the 421-a program in NYC, which is a local tax break targeting moderate income development, hence the 130% AMI. For federal Low Income Housing Tax Credits (LIHTC), gotta be at/below 60% (with some flexibility up to 80%).
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.