Federal Tax Credit for Low Income Housing
The Tax Reform Act of 1986 also created an income tax credit for acquisition, construction, or rehabilitation of low income housing. Many developers have used the Low Income Housing Tax Credit in conjunction with the 20% Federal Historic Rehabilitation Tax Credit to rehabilitate historic buildings to provide rental units for low to moderate income residents. For more information, contact the Florida Housing Finance Corp., Vicki Robinson (850-488-4197) or www.floridahousing.org, which allocates the Low Income Housing Credits in Florida.