HUD DESIGNATES 2008 DIFFICULT DEVELOPMENT AREAS
The U.S. Department of Housing and Urban Development (HUD) today designated difficult development areas (DDAs) for purposes of the low-income housing tax credit (LIHTC) under Section 42 of the Internal Revenue Code (IRC). HUD makes new DDA designations annually. LIHTC projects in DDAs are eligible for up to 30 percent more LIHTC subsidy than projects not located in DDAs. Today's notice indicates that the designations of qualified census tracts (QCTs) published September 28, 2007, remain in effect.
Join Novogradac & Company LLP to discuss this and other recent developments affecting the affordable housing industry at the 14th Annual San Francisco Affordable Housing Conference on October 4 and 5.