WebDec 1, 2024 · Pursuant to income averaging, an LIHTC project can designate units that are a mix of unit percentages, ranging from 20% to 80% of AMGI, and count all of them toward meeting the 40-60 minimum set aside requirements, provided (A) the average of these imputed income limitations does not exceed 60%, and (B) 40% or more of the units in the … WebLIHTC (MTSP) Income Limits - Income Averaging Las Vegas-Henderson-Paradise NV MSA - 2024 The Income Average LIHTC setaside is an alternative to the 40/60 and 20/50 set asides. Income averaging permits some households with incomes as high as 80% of Area Median Income (AMI).

2024 LIHTC Income Limits and Fair Market Rents - Charleston …

http://thenyhc.org/wp-content/uploads/2015/09/LIHTC-Income-Averaging-Handout.pdf WebA development qualifies for low-income housing tax credits if it is residential rental property and meets one of the following requirements: At least 20% or more of the residential units in the development are both rent restricted and occupied by individuals whose income is 50% or less of the area median gross income (AMGI)*, or first right of refusal on real estate

Income averaging and the Low income Housing Tax Credit rules

WebMar 17, 2024 · In general, income averaging allows LIHTC-qualified units to serve households earning as much as 80% of the area median gross income (AMGI). At least … WebLIHTC Income Averaging A typical 100-unit LIHTC building Higher rents units cross-subsidize very low-income units A variety of income tiers allow greater household … WebThe Income Average LIHTC setaside is an alternative to the 40/60 and 20/50 set asides. Income averaging permits some households with incomes as high as 80% of Area Median Income (AMI). ... is proud to partner with LIHTC compliance experts TheoPRO to offer development compliance services and Section 42 training programs for LIHTC … first right of refusal on property in a will