Freddie Mac Announces Reentry into Low-Income Housing Tax Credit Market
By a
"We are excited to resume investing in Low-Income Housing Tax Credits, which will expand our affordable housing efforts and help provide stability to this market," said
The LIHTC program was created to provide multifamily property owners and investors with an incentive to create and maintain quality affordable housing. Under the program, qualified properties are allocated federal tax credits and investors are able to invest in those properties in order to take advantage of the tax credit. The LIHTC program infuses cash equity into low-income housing properties, which reduces the debt burden for the development of new, or the rehabilitation of existing, affordable properties. As a result, private investors take the risk so
"Our LIHTC investment initiative will focus on affordable housing preservation, rural housing, markets with uneven or unpredictable liquidity, and other underserved areas that have been identified in our Duty to Serve plan. Doing so will have a significant positive impact on communities with some of the most serious affordable housing needs," said
The
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