Federal Tax Credits to Create, Preserve Affordable Housing across the State

Federal Tax Credits to Create, Preserve Affordable Housing across the State

BEDFORD, N.H. – December 03, 2015 – (RealEstateRama) — Six developers across the state were recently awarded Low Income Housing Tax Credits (LIHTC), a key federal funding source for creating and preserving affordable housing. The tax credits will provide almost $31 million in upfront cash equity to be used for building 170 affordable apartments and preserving 100 more.

According to Housing Needs in New Hampshire, a study commissioned by New Hampshire Housing and performed by the Center for Public Policy Studies and Applied Economic Research, the state’s rental market has grown progressively less affordable. With low vacancy rates and a lack of housing construction to meet demand, renters have fewer options and are paying higher rents. Programs like the housing tax credit are one resource that developers can use to build more housing to meet demand and create more affordable locations for the state’s workforce to live.

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