In the current economy, with homeownership becoming more difficult for some people, the need for rental housing has become increasingly important. At the same time, the market for Low Income Housing Tax Credits (LIHTCs), a major source of capital for the development of rental housing, has experienced a serious downturn. This market contraction has resulted in stalled developments across the country. Because of the slump in the production and preservation of rental units, the Board of Governors of the Federal Reserve System, in collaboration with the Federal Reserve Bank of St. Louis, asked six experts to suggest ideas for bolstering the LIHTC program. Their suggestions are contained in a new publication, Innovative Ideas for Revitalizing the LIHTC Market. The booklet is available online at www.stlouisfed.org/community_development or in print by contacting Cynthia Davis at 314-444-8761.
View presentations by the authors and take a virtual tour of housing built with LIHTCs in St. Louis at www.stlouisfed.org/community_development.
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FedCommunities.org is a portal to community development resources from all 12 Federal Reserve Banks and the Federal Reserve Board of Governors.