Get the free 2012 LIHTC Applicants

This document provides a list of applicants for the Low-Income Housing Tax Credit (LIHTC) program, detailing projects, locations, contacts, and budget information in Oregon.

How to fill out 2012 lihtc applicants

How to fill out 2012 LIHTC Applicants

1. Obtain the 2012 LIHTC application form from the relevant housing authority or website.
2. Review the eligibility requirements and ensure your project qualifies.
3. Complete the applicant information section, including contact details and organization structure.
4. Provide a detailed description of the proposed project, including location, size, and target demographics.
5. Prepare financial projections, including development costs, operational budgets, and projected rents.
6. Include information about any funding sources, subsidies, or grants you plan to utilize.
7. Attach necessary documentation, such as project maps, zoning approvals, and letters of support.
8. Review your application for completeness and accuracy before submission.
9. Submit the application by the specified deadline to the appropriate authority.

Who needs 2012 LIHTC Applicants?

1. Developers seeking funding for affordable housing projects.
2. Non-profit organizations focused on providing low-income housing.
3. State and local governments looking to address housing shortages.
4. Investors interested in financing affordable housing through tax credits.

People Also Ask about

What is the eligible basis in LIHTC?

Eligible basis is a component of the qualified basis of an LIHC project. It is generally equal to the adjusted basis of the building, excluding land but including amenities and common areas. Existing Building. An existing building is a building that has been previously placed in service.

What does IRS consider low-income?

The federal poverty level and taxes For example, in 2024, a single parent with one child would be considered in poverty with a family income of less than $20,440 using the federal poverty guidelines for the 48 contiguous states. The amounts are higher for Alaska and Hawaii.

In what year was the LIHTC program created?

The low-income housing tax credit (LIHTC) program, created in 1986 and made permanent in 1993, is an indirect federal subsidy used to finance the construction and rehabilitation of low-income affordable rental housing.

What is the low-income tax credit?

The LIHTC program reduces the federal tax liability in exchange for the acquisition, rehabilitation, or construction of affordable rental housing units that will remain income and rent restricted over a long period (55 years for California).

What is the low-income housing tax credit in Maryland?

LIHTC fills the gap for tenants who cannot afford a safe, decent, and cost-effective home to live in Maryland. Usually, qualified tenants come from an income level of 60% of the Area Median Income, ensuring that low-income families, seniors, or individuals will be assured of decent, safe, and sanitary housing.

Who is eligible for the income tax credit?

You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,644 for tax year 2024 as a working family or individual earning up to $31,950 per year. You must claim the credit on the 2024 FTB 3514 form, California Earned Income Tax Credit, or if you e-file follow your software's instructions.

How does the low-income housing tax credit work?

The LIHTC gives investors a dollar-for-dollar reduction in their federal tax liability in exchange for providing financing to develop affordable rental housing. Investors' equity contribution subsidizes low-income housing development, thus allowing some units to rent at below-market rates.

What is the federal tax credit for low-income?

The Earned Income Tax Credit (EITC) helps low- to moderate-income workers and families get a tax break. If you qualify, you can use the credit to reduce the taxes you owe – and maybe increase your refund.

For pdfFiller’s FAQs

What is 2012 LIHTC Applicants?

2012 LIHTC Applicants refers to the individuals or organizations that applied for the Low-Income Housing Tax Credit (LIHTC) program in the year 2012, which is a federal tax incentive used to encourage the development of affordable housing.

Who is required to file 2012 LIHTC Applicants?

Applicants seeking allocations of Low-Income Housing Tax Credits for housing developments in 2012 are required to file the 2012 LIHTC Applicants. This typically includes developers and project owners of affordable housing projects.

How to fill out 2012 LIHTC Applicants?

To fill out the 2012 LIHTC Applicants, applicants need to complete the designated application form, providing detailed information about the proposed project, including location, financing, compliance with LIHTC regulations, and tenant eligibility requirements.

What is the purpose of 2012 LIHTC Applicants?

The purpose of 2012 LIHTC Applicants is to ensure that qualifying projects can access federal tax credits that will facilitate the development of affordable housing, thereby increasing housing availability for low-income individuals and families.

What information must be reported on 2012 LIHTC Applicants?

Information that must be reported on 2012 LIHTC Applicants includes the project description, financing details, compliance with eligibility criteria, projected rent levels, target population for the housing, and any additional supporting documentation required.