Basic rent refers to the minimum rent that a tenant must pay under a HUD-subsidized housing program such as Section 236. This rental rate is often influenced by the tenant's income level and family size.
Exclusionary zoning refers to municipal regulations that effectively bar certain types of housing or people from living in certain areas, predominantly limiting access for low- and moderate-income individuals.
The Government National Mortgage Association (Ginnie Mae or GNMA) is a U.S. government corporation within the Department of Housing and Urban Development (HUD) that guarantees timely payments of principal and interest on mortgage-backed securities (MBS) to investors.
The Housing and Urban Development (HUD) Department is a U.S. government agency devoted to ensuring decent, safe, and sanitary housing for all Americans, particularly focusing on urban development and housing discrimination issues.
Inclusionary zoning is a local law that requires housing developers to reserve a certain percentage of housing units for lower-income buyers in exchange for approval of their projects, aiming to increase the availability of affordable housing.
The Local Housing Authority (LHA) is a government entity that develops and manages public housing projects intended for qualified low-income residents.
Low-income housing that meets specific criteria and regulations, making it eligible for special tax credits. Stringent guidelines govern tenant qualification, certification, and project financing to ensure compliance with federal and state laws.
The National Association of Housing and Redevelopment Officials (NAHRO) advocates for adequate and affordable housing, contributing to strong and viable communities, especially for low and moderate-income Americans.
Public housing comprises government-owned housing units that are made available to low-income individuals and families. These units are either provided at no cost or for nominal rental rates.
Section 8 Housing refers to privately-owned rental dwelling units participating in a low-income rental assistance program established through amendments to Section 8 of the 1937 Housing Act in 1974.
A tax credit is a direct reduction in the amount of tax that a taxpayer owes to the government. Unlike tax deductions, which reduce the amount of taxable income, tax credits reduce the actual tax due, providing dollar-for-dollar savings.
