Housing Options [X-Post from r/realestate]
Is there a good resource to learn about available tax credits for low or mixed income housing? Also, is there a good resource to learn about available government loan options for mixed income or low income housing?
[{"id": "cpn9v0h", "text": "It depends on what you're trying to do. Low income housing federal tax credits are available through your state housing authority. They are competitive bid and generally require large investments. Its a big commitment. \n\nIf you currently are a landlord, there are HUD section 8 programs that I believe can work with individual units. \n\nSo the short answer is check with your states housing authority and with you local HUD office to get started. HUD also has multi family financing info. That program is called 221d4. ", "replies": [{"id": "cpnhitq", "text": "I am trying to figure out what my options are. I am in NYC so I assume there are several programs for this. I am trying to figure out what my financing options and possible tax credits are for a small scale project, $2m.", "replies": [{"id": "cpnvty5", "text": "Not a lot of options that i know about for a project that small.  There end up being a lot of fees and a ton of paperwork that make smaller proejcts not very feasible.  $5 million is gernally what I've seen as the minimum people like to do with $10 million being better.  This is for Low Income tax credits and also for 221d4.  Not sure on section 8.  I would still approach the two agencies I mentioned and see what they can tell you.  ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]