By BUILDER Magazine Staff The NAHB is among the 26 housing and community development groups of the Community Homeownership Credit Coalition pushing for enactment of a federal homeownership tax credit to increase the quantity of affordable housing. Designed to help bridge the gap between the cost of developing affordable housing and the price that buyers can afford to pay, the proposed credit would provide investors as much as 50 percent credit of project costs for eligible home rehabilitation or construction.
The program, modeled after the Federal Low-Income Housing Tax Credit, would be administered by state housing agencies.
Other coalition members include The Enterprise Foundation, Fannie Mae, Freddie Mac, Habitat for Humanity International, Mortgage Bankers Association of America, National Association of Realtors, the U.S. Conference of Mayors, and United Way of America.
