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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.

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