Updated LIHTC Project Data Released
HUD announced that is has released an update of the LIHTC Database to include LIHTC-financed projects placed in service through 2006. The LIHTC Database is the only comprehensive source of information on the federal government’s program for the construction and rehabilitation of low-income rental housing.
The LIHTC database contains the following the following information:
- Project location, including address, county, state, place, census tract, and latitude and longitude geocodes.
- Contact information for project sponsors.
- Number of total units and credit-eligible units.
- Unit distribution by number of bedrooms.
- New construction or rehabilitation status.
- Credit type (30 of 70 percent of present value).
- For-profit or nonprofit sponsorship status.
- Tax-exempt bond or Rural Housing Service Section 515 financing.
- Increased basis due to location in a Qualified Census Tract or Difficult Development Area.
- Year placed in service and year credits were allocated.
Highlights of the properties placed in service from 1995 through 2006 are as follows:
- On average, nearly 1,400 projects and 103,000 units were placed in service during each year.
- LIHTC projects placed in service contained an average of 74 units.
- Tax credit properties tend to be larger than the average apartment property: 45 percent of LIHTC projects are larger than 50 units, compared with only 2.2 percent of all apartment properties nationally.