The low income housing tax credit (LIHTC) program was created under the 1986 Tax Reform Act to encourage private investment in the development of affordable rental housing. The LIHTC program is governed by Section 42 of the Internal Revenue Code and is administered at the state level. Under the LIHTC program, state and local allocating agencies receive the cumulative equivalent of nearly $5 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation and/or new construction of rental housing targeted to lower income households. Today, the LIHTC program continues to be the most successful and important resource available for creating affordable housing in the United States of America.
As of May 2010, City Real Estate Investors, Inc., (CREA) has invested in excess of $500,000,000 in affordable housing projects throughout the United States. CREA has successfully completed transactions that have one or more of the following characteristics associated with them:
With in-house acquisitions, syndication, underwriting, construction services, fund management and asset management staff, CREA is involved throughout the life of the transaction. With more than a century of combined affordable housing industry experience, CREA’s staff will provide innovative ways to maximize the economic benefit of your project.
If you would like more information about any of the departments at CREA, please click on one of the links below:
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