The Housing Tax Credit (HTC) program began under President Reagan’s 1986 era Tax Reform Act. It was widely successful and became a permanent program in 1993. It is the single most successful affordable rental housing production program in history.

The program brings equity into the financing structure of housing development. With more equity, the project needs less debt, and can therefore, charge less in rent, making housing affordable to seniors or other families who earn lower incomes.

Through the program, over 2.4 million units have been created and 95,000 jobs have been created/supported. This program creates Class A properties, rich in amenities and services, that are affordable to lower income level households.

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