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This document lists various affordable housing projects in Oregon funded by the Low-Income Housing Tax Credit (LIHTC) program, detailing project sponsors, locations, funding amounts, and unit distributions.

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How to fill out OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING

1. Gather necessary financial documents: Prepare recent tax returns, pay stubs, and bank statements.
2. Determine eligibility: Review the income limits and qualifications for the 4% LIHTC program.
3. Complete the application form: Fill out the Oregon Housing and Community Services application, ensuring all required information is accurate.
4. Provide supporting documentation: Attach necessary documents such as identification, proof of income, and rental history.
5. Submit the application: Send the completed application and documentation to the appropriate office by the specified deadline.
6. Follow up: Contact the office to confirm receipt of your application and inquire about the next steps.

Who needs OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING?

1. Low-income families seeking affordable housing options.
2. Individuals with disabilities looking for accessible housing.
3. Seniors requiring affordable living arrangements.
4. Single parents needing support with housing costs.
5. Persons experiencing homelessness or housing instability.

People Also Ask about

What is the Oregon Affordable Housing Tax Credit Program?

The OAHTC allows banks to reduce interest rates on loans for affordable housing by 4% and claim a state income tax credit equal to the lost interest income caused by the lower rate. Nearly all households that benefit from this program earn less than 50% of area median income (AMI), and in many cases, below 30% of AMI.

What is the Oregon affordable housing tax credit?

The OAHTC allows banks to reduce interest rates on loans for affordable housing by 4% and claim a state income tax credit equal to the lost interest income caused by the lower rate. Nearly all households that benefit from this program earn less than 50% of area median income (AMI), and in many cases, below 30% of AMI.

How do tax credits work for affordable housing?

The federal government issues tax credits to state and territorial governments. State housing agencies then award the credits to private developers of affordable rental housing projects through a competitive process. Developers generally sell the credits to private investors to obtain funding.

Who qualifies for affordable housing in Oregon?

Families or individuals who meet the extremely low-income requirements (30% of the area's median), and very-low-income (50% of area median) based on total gross income. In some cases, those with low income (80% of area median) are eligible.

How do tax credits work for affordable housing?

The federal government issues tax credits to state and territorial governments. State housing agencies then award the credits to private developers of affordable rental housing projects through a competitive process. Developers generally sell the credits to private investors to obtain funding.

Which three types of housing are typically created under the LIHTC program?

The LIHTC program provides the credits to reduce developers' costs in return for developers agreeing to reserve a certain percentage of rent-restricted units for lower-income families. Most kinds of properties (single-family, multi-family, apartment complexes, and townhouses) can qualify for the LIHTC credit.

Who qualifies for affordable housing in Oregon?

Families or individuals who meet the extremely low-income requirements (30% of the area's median), and very-low-income (50% of area median) based on total gross income. In some cases, those with low income (80% of area median) are eligible.

For pdfFiller’s FAQs

What is OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING?

OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING refers to a program that provides low-income housing tax credits to promote the development of affordable housing in Oregon. The 4% tax credits are often used in conjunction with other financing sources to assist developers in creating or rehabilitating affordable rental properties.

Who is required to file OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING?

Developers and sponsors of affordable housing projects that utilize the 4% Low-Income Housing Tax Credit (LIHTC) need to file with OREGON HOUSING AND COMMUNITY SERVICES. This includes non-profit organizations, for-profit developers, and public housing authorities involved in the development of eligible projects.

How to fill out OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING?

To fill out the OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING application, applicants typically need to provide detailed project information, including financial projections, project descriptions, site information, and evidence of financing. It is essential to follow the specific instructions provided by the Oregon Housing and Community Services agency for the application process.

What is the purpose of OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING?

The purpose of OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING is to incentivize the construction and rehabilitation of affordable housing units for low-income families and individuals. It aims to increase the availability of quality, affordable rental housing in Oregon and to address housing shortages.

What information must be reported on OREGON HOUSING AND COMMUNITY SERVICES 4% LIHTC AFFORDABLE HOUSING?

Information that must be reported typically includes project financials, the number of affordable units, tenant income levels, compliance with affordability requirements, and updates on project timelines and completion status. Detailed record-keeping and periodic reports may also be required to ensure ongoing compliance with program regulations.