AHAP Donation Credits Continued
In order for a business firm to be eligible for the Affordable Housing Assistance Tax Credit, the neighborhood organization must agree to use 100% of the donation to house families with a household income of less than 50% of the area median income adjusted for family size. This is restricted through a LURA for 10 years.
This usually meets with RD’s goal to serve lower income tenants.
Must be applied for carefully to combine with Tax Credits at 60% of the area median income.