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This document serves as the application for the 2025 4% Low-Income Housing Tax Credit (LIHTC) and bonds for the development named Palace Lofts located in Gary, Lake County, Indiana. It outlines the necessary documentation, submission guidelines, evaluation factors, and funding requests related to the development, focusing on affordable housing and community revitalization.
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What is 4 lihtc and bonds?
4 LIHTC (Low-Income Housing Tax Credit) and bonds refer to a program that provides tax credits to investors for the development of affordable housing in the United States. It helps encourage investment in low-income housing projects.
Who is required to file 4 lihtc and bonds?
Entities that receive Low-Income Housing Tax Credits and those involved in financing or managing affordable housing projects through tax-exempt bonds are required to file 4 LIHTC and bonds.
How to fill out 4 lihtc and bonds?
Filling out 4 LIHTC and bonds involves gathering necessary documentation about the project, including financial information and tenant data, and completing the specific forms provided by the IRS or state housing authorities.
What is the purpose of 4 lihtc and bonds?
The purpose of 4 LIHTC and bonds is to promote affordable housing development by providing financial incentives to developers and investors, thus increasing the supply of low-income housing.
What information must be reported on 4 lihtc and bonds?
The report must include detailed information on the housing project, financial data, occupancy rates, compliance with income restrictions, and other relevant regulatory information.
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