Affordable Housing Pays Off for City
(Crain’s) — Affordable housing built with help from the use of federal low-income housing tax credits has a positive impact on distressed neighborhoods in the city and is crucial to economic development, according to a new study scheduled for release Wednesday.
The study found that the use of federal low-income housing tax credits is crucial to building and rehabilitating affordable housing, and to helping inner city neighborhoods. By paying affordable rent—monthly rents averaging $500—families were able to more than double their discretionary income, which in turn allowed them to pay for health care, reduce their debt or put money into savings.
SEE ALSO
- Nia Long Isn’t Happy With How The Boston Celtics Handled Ime Udoka’s Cheating Scandal
- New TLC Show ‘Seeking Brother Husband’ Showcases Polyandrous Sisters
- Wendy Williams’ Son Kevin Hunter Jr. Evicted From Miami Apartment
- Lenny Kravitz Maintains Rock God Status With Bubble Bath Thirst Trap And A Phone Call From Denzel Washington During Performance
- Tyler Perry And Byron Allen Are In Talks To Acquire BET From Paramount
