LITHCLow Income Housing Tax Credit (est. 1986)
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The New York State Department of Housing and Community Renewal also allocated Low income Housing Tax Credits (LITHC) and RBC Capital Markets syndicated the $4.5 million LIHTC equity.
* A hypothetical initial cost or value of $5 million for both the existing conventional property and the net cost of the LIHTC property, which is used to calculate the difference in the capitalization rate necessary to induce an investor to purchase a LITHC property (6)
(54) LITHCs are often combined with other subsidies to make projects more affordable, including state housing funds (often derivative of federal Community Development Block Grants), Historic Preservation Tax Credits, and Section 8 vouchers.