Low Income Housing Tax Credits Projects

Overview

Low Income Housing Tax Credits (LIHTC) projects are the primary catalysts for community improvement in many under-privileged areas within the State of Texas. These developments of affordable rental housing provide the major impetus for urban core revitalization and attempt the critical task of re-shaping the design of under-served communities and the lives of many low-income families. While these important endeavors are being undertaken, community concerns about the long-term impact of optional environmental, sustainable housing designs are anxieties that the current LIHTC program doesn’t fully address. These public concerns about green sustainable building practices speak to how higher-performing developments with energy-efficiency schemes, lower utility costs, healthier living environments, and site locations near public transportation/public services should be a mandatory inclusion in the award of all LIHTC funds.

Without state “required” measures of green, sustainable standards in the awarding and allocation of LIHTC funds and in the absence of review sanctions (e.g., deduction of application review points) for non-adherence to existing sustainable development specifications, the LIHTC program falls considerably short of addressing the overwhelming need to develop “green” in many of our state-subsidized low-income multi-family developments. The purpose of this policy brief is to show and recommend that 1). TDHCA needs to formally adopt mandatory green or sustainable standards to which all applicants seeking funding must adhere to; and 2). With the adoption of these mandatory green, sustainable standards, all LIHTC funded projects will reap the lifelong benefits that energy-efficient and environmentally, susta...

... middle of paper ...

...//www.housingfinance.com/economic-development/texas-stampede.aspx

Lawrence, P. (July 2011). Greening Affordable Housing:Moving from Niche to Industry Standard. Novogradac Journal of Tax Credits, 2-4.

MortgageLoan.com. (2013, April 23). Green Mortgages - Energy Efficient Mortgage Guide. Retrieved april 3, 2014, from Mortgage Loan.com: http://www.mortgageloan.com/environment/

Murray R. (2008). McGraw-Hill Construction’s Green OUtlook 2009: Trends Driving Change Report. McGraw-Hill.

Novogradac & Company, L. (2014). Low-Income Housing Tax Credit:Federal LIHTCs . Retrieved April 15, 2014, from Novogradac Federal Housing Resource Center: http://www.novoco.com/low_income_housing/lihtc/federal_lihtc.php

Partners, E. C. (2009). Enterprise Calls on Congress to Strengthen the Low Income Housing Tax Credit Program. Washington: Enterprise Community Partners.