Since AHF Live: The 2010 Affordable Housing Developers' Summit, which started the day after the mid-term elections, there has been a lot of buzz in the industry about educating the newly elected legislators of the 112th Congress on the benefits of the low-income housing tax credit (LIHTC).
The LIHTC program could be in jeopardy if the government's deficit-reduction efforts gain traction, and the urgency around education efforts continues to be elevated.
At the conference, several industry leaders approached AFFORDABLE HOUSING FINANCE about creating a special publication showcasing LIHTC projects around the nation.
So we have joined the cause, and on behalf of our readers, we have created a special issue on the merits of the LIHTC program that will be distributed to Congress in early February.
Over the past two months, the magazine's editors have worked closely with industry leaders to develop this special issue, which we call HOUSING FOR ALL AMERICANS.
The leaders who have graciously assisted in the planning and have given many hours of their time are too numerous to name, but they include industry associations, for-profit and nonprofit developers, accountants, housing finance agencies, syndicators, and investors.
For those involved in producing housing for low- and moderate-income Americans, the benefits of the LIHTC program are evident.
But for those on the outside, hopefully the statistics and examples of projects will speak to the effectiveness of the program.
According to the National Council of State Housing Agencies' “2010 Housing Credit Fact Sheet,” the LIHTC program has helped to finance more than 2.4 million apartments for lowincome working families, seniors, and disabled residents since Congress created it in 1986. The credit drives the creation or preservation of more than 100,000 apartments each year.
HOUSING FOR ALL AMERICANS highlights that fact along with the 25-year history of the program, the benefits and efficiencies of the program, and the nation's need for affordable housing.
It also examines 22 LIHTC developments in key congressional districts around the nation that show the wide range of housing the program has financed— from serving formerly homeless veterans at Silver Star Apartments in Battle Creek, Mich., to providing housing to parents pursuing post-secondary education at Bowling Green Scholar House in Bowling Green, Ky., and replacing housing destroyed by a tornado at Prairie Hill Townhomes in Dickinson, N.D.
The LIHTC program is a remarkable public/private success story, and we hope Congress will recognize that.
HOUSING FOR ALL AMERICANS will be available in digital format for readers at in February.