Millions of working Americans lack proper housing. U.S. Census data confirms at least 4.7 million homes are necessary to relieve the pressure on Americans making less than 60% of AMI (Area Median Income). California leads the way with the biggest need, followed by other western states, then every urban center in the country.
The LIHTC program was designed and implemented to combat this shortage of proper housing. Since its inception in 1986 under Section 42 IRS Code, the federal program has facilitated over 4 million new affordable housing units. Thirty states now have their own LIHTC mini programs.
LIHTC is important to the future of America’s workforce. We must have adequate housing if we are all going to prosper and reach our full potential.
CIG Bonds gives back by supporting LIHTC developers in their efforts to solve the housing crisis. We understand how tax credits work and can guide you on how to achieve maximum bonding capacity with standard market rates.
Every day we issue P&P bonds on both 4% & 9% LIHTC deals, guaranteeing completion of projects across America. CIG is licensed in “All 50” and represents some of the most powerful and well capitalized developers in the business, doing between 1,000 – 3,000 starts a year.
We also welcome new developer entrants to the LIHTC space and can provide expert guidance on how to fast-track the process to become a bonded multi-family developer.
To get started or learn more, contact LIHTC Practice Leader Matthew Clarke at mc@cigbonds.com, or visit LIHTC.com.
