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How is rent established for LIHTC properties?

April 26, 2017lihtc properties rent

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How is rent established for LIHTC properties?

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Rental rates do have some limitations. There are strict Federal requirements on these rates in order for developers to participate in the program. Proposed projects must meet one of the following requirements. • At least 20 percent or more of the units must be rented to households with incomes not exceeding 50 percent of the Area Median Income (AMI) or • At least 40 percent or more of the units must be reserved for households with incomes not exceeding 60 percent of the AMI.