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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Housing: Low-Income Housing Tax Credit Utilization and Syndication: T-Rced-90-73

Housing: Low-Income Housing Tax Credit Utilization and Syndication: T-Rced-90-73

U. S. Government Accountability Office (G

Paperback

General Political Science

ISBN10: 1289009783
ISBN13: 9781289009786
Publisher: Bibliogov
Published: Jun 26 2013
Pages: 28
Weight: 0.15
Height: 0.06 Width: 7.44 Depth: 9.69
Language: English
GAO discussed low-income housing tax credit utilization and syndication. GAO found that: (1) tax credits are intended to induce investors to supply equity for low-income housing; (2) tax credit use increased from 20 percent in 1987 to 98 percent in 1989; (3) by the end of 1989, about $565 million worth of initial-year credits were awarded for the development of 236,000 low-income housing units; (4) the credit program represents the federal government's primary subsidy for encouraging low-income housing production; (5) most tax credit syndications have been conducted as public offerings, with limited partnership interests in tax-credit-eligible projects being sold to individual investors; and (6) many syndications are being conducted as direct placement, usually to corporate investors.

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