Lease Addendum - Low Income Housing Tax Credit (LIHTC) Program - Washington, D.C.

Lease Addendum - Tax Credit (LIHTC) Program is a legal document that was released by the Washington DC Department of Housing and Community Development - a government authority operating within Washington, D.C..

FAQ

Q: What is the Low Income Housing Tax Credit (LIHTC) Program?A: The Low Income Housing Tax Credit (LIHTC) Program is a federal program that provides tax incentives to developers to create affordable rental housing for low-income households.

Q: What is a lease addendum?A: A lease addendum is a separate document that is added to a lease agreement to address specific terms or conditions that are unique to a specific situation or program, such as the Low Income Housing Tax Credit (LIHTC) Program.

Q: What does the Lease Addendum for the LIHTC Program in Washington, D.C. cover?A: The Lease Addendum for the LIHTC Program in Washington, D.C. covers specific requirements and provisions related to the LIHTC Program, including income eligibility, rent restrictions, and tenant selection criteria.

Q: Who is eligible for the LIHTC Program in Washington, D.C.?A: Low-income households that meet certain income requirements are eligible for the LIHTC Program in Washington, D.C. The specific income limits may vary based on household size and other factors.

Q: What are the rent restrictions under the LIHTC Program in Washington, D.C.?A: Rent restrictions under the LIHTC Program in Washington, D.C. limit the amount of rent that can be charged for affordable housing units. These rent restrictions ensure that the housing remains affordable for low-income households.

Q: How are tenants selected for LIHTC units in Washington, D.C.?A: Tenants for LIHTC units in Washington, D.C. are typically selected based on a combination of income eligibility and a lottery system. This helps ensure fairness and equal access to affordable housing opportunities.