National Alliance to End Homelessness: Audio Conference Materials -
Thursday, March 9, 2006 3:00 p.m. ET

**Federal Funding for Youth Housing Programs**

Housing models for youth who experience homelessness should balance
stability, safety, and affordability with continuous preparation for
future independent housing. There are a number of different housing
models in the youth housing continuum, including supportive housing,
community-based group homes, and supervised or scattered site
apartments, among others. These models can assist youth in maintaining
stable housing, transitioning to adulthood, and becoming
self-sufficient.

Although scarce, dedicated resources for affordable housing that can
prevent and target homeless youth are available. Funding sources include
federal programs dedicated to youth, such as the Chafee Foster Care
Independent Program (CFCIP), the Chafee Education and Training Vouchers,
and Runaway and Homeless Youth Act Transitional Living Program (TLP).
Mainstream housing programs are also important funding sources for youth
housing such as the Home Investment Partnerships Program (HOME), Family
Unification Program (FUP), Low-Income Housing Tax Credits (LIHTC) and
Tax Exempt Housing Bonds.

The following tables briefly describe these resources, including
eligibility, resource application, and advantages and constraints of the
funding source. Each table also provides links for additional
information on the resource.

Please click on the link go directly to program of interest:

**[Federal Resources for Housing Youth]{.underline}**

[Chaffee Foster Care Independence
Program](#chafee-foster-care-independence-program-cfcip)

[Chafee Education and Training Vouchers
(ETV)](#chafee-education-and-training-vouchers-etv)

[Runaway and Homeless Youth Act - Transitional Living Program
(TLP)](#_Runaway_and_Homeless_Youth_Act__-_T_1)

**[Federal Resources for Housing Youth only ages 18 and
older]{.underline}**

[Family Unification Program (FUP) Vouchers -- Section
8](#family-unification-program-fup-vouchers-section-8)

[Home Investment Partnership Program
(HOME)](#home-investment-partnership-program-home)

[McKinney-Vento Homeless Assistance Programs -- Supportive Housing
Program (SHP), Single Room Occupancy Dwellings (SRO), and Shelter Plus
Care](#mckinney-vento-homeless-assistance-programs-supportive-housing-program-shp-single-room-occupancy-dwellings-sro-and-shelter-plus-care)

[Federal Home Loan Bank -- Affordable Housing
Program](#_Federal_Home_Loan_Bank_–_Affordable)

[Low-Income Housing Tax Credit
(LIHTC)](#low-income-housing-tax-credit-lihtc)

[Tax Exempt Housing Bonds -- Private Activity
Bonds](#tax-exempt-housing-bonds-private-activity-bonds)

[Tax Exempt Housing Bonds - 501(c)(3) Tax-Exempt Bond
Financing](#tax-exempt-housing-bonds---501c3-tax-exempt-bond-financing)

+-------------+---------------+-----------------+---------------------+
| ### Cha     |               |                 |                     |
| fee Foster  |               |                 |                     |
| Care Indepe |               |                 |                     |
| ndence Prog |               |                 |                     |
| ram (CFCIP) |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| **Young     | Direct        | Available in    | Funding is limited  |
| adults who  | housing       | every state     |                     |
| have aged   | subsidy       |                 |                     |
| out of care |               |                 |                     |
| or who will |               |                 |                     |
| age out of  |               |                 |                     |
| care up to  |               |                 |                     |
| age and     |               |                 |                     |
| 21**        |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
|             | Room and      | Applicable to   | Specifics of        |
|             | board         | various housing | programs vary by    |
|             | assistance    | models for      | area                |
|             |               | youth           |                     |
+-------------+---------------+-----------------+---------------------+
|             | Provide for   | Often comes     | Assistance is       |
|             | services to   | with case       | usually time        |
|             | search for    | man             | limited             |
|             | and obtain    | agement/support |                     |
|             | housing       | services        |                     |
+-------------+---------------+-----------------+---------------------+
| ###         |               |                 |                     |
| Chafee Educ |               |                 |                     |
| ation and T |               |                 |                     |
| raining Vou |               |                 |                     |
| chers (ETV) |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| **CFCIP     | Provides for  | Available in    | Must reapply every  |
| eligible    | up to \$5,000 | every state     | year                |
| youth or    | per year of   |                 |                     |
| youth who   | support for   |                 |                     |
| are adopted | postsecondary |                 |                     |
| after age   | education     |                 |                     |
| 16 and      | costs         |                 |                     |
| attending   | including     |                 |                     |
| i           | housing       |                 |                     |
| nstitutions |               |                 |                     |
| defined by  |               |                 |                     |
| the Higher  |               |                 |                     |
| Education   |               |                 |                     |
| Act of 1965 |               |                 |                     |
| or enrolled |               |                 |                     |
| in a        |               |                 |                     |
| po          |               |                 |                     |
| stsecondary |               |                 |                     |
| education   |               |                 |                     |
| program**   |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
|             |               | Allowed on any  | Education costs may |
|             |               | type of housing | use the majority of |
|             |               |                 | allotment --        |
|             |               |                 | limiting the amount |
|             |               |                 | used for housing    |
+-------------+---------------+-----------------+---------------------+
| Funding     | US Department |                 |                     |
| Agency      | of Health and |                 |                     |
|             | Human         |                 |                     |
|             | Services,     |                 |                     |
|             | A             |                 |                     |
|             | dministration |                 |                     |
|             | for Children  |                 |                     |
|             | and           |                 |                     |
|             | Families -    |                 |                     |
|             | <http://      |                 |                     |
|             | www.acf.dhhs. |                 |                     |
|             | gov/programs/ |                 |                     |
|             | cb/index.htm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | State Child   |                 |                     |
| ministering | and Family    |                 |                     |
| O           | Services      |                 |                     |
| rganization | offices --    |                 |                     |
|             | <http://ww    |                 |                     |
|             | w.nrcys.ou.ed |                 |                     |
|             | u/nrcyd/state |                 |                     |
|             | _pages.shtml> |                 |                     |
|             |               |                 |                     |
|             | Statewide     |                 |                     |
|             | Independent   |                 |                     |
|             | Living        |                 |                     |
|             | C             |                 |                     |
|             | oordinators - |                 |                     |
|             | <htt          |                 |                     |
|             | p://www.nrcys |                 |                     |
|             | .ou.edu/nrcyd |                 |                     |
|             | /resources/il |                 |                     |
|             | coords.shtml> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | National      |                 |                     |
| Resources   | Child Welfare |                 |                     |
|             | Resource      |                 |                     |
|             | Center for    |                 |                     |
|             | Youth         |                 |                     |
|             | Development - |                 |                     |
|             | <http:/       |                 |                     |
|             | /www.nrcys.ou |                 |                     |
|             | .edu/nrcyd/pr |                 |                     |
|             | ograms.shtml> |                 |                     |
|             |               |                 |                     |
|             | National      |                 |                     |
|             | Foster Care   |                 |                     |
|             | Coalition,    |                 |                     |
|             | Chafee        |                 |                     |
|             | Frequently    |                 |                     |
|             | Asked         |                 |                     |
|             | Questions -   |                 |                     |
|             | <http:/       |                 |                     |
|             | /www.natl-fos |                 |                     |
|             | tercare.org/> |                 |                     |
+-------------+---------------+-----------------+---------------------+

+-------------+---------------+-----------------+---------------------+
| ### R       |               |                 |                     |
| unaway and  |               |                 |                     |
| Homeless Yo |               |                 |                     |
| uth Act - T |               |                 |                     |
| ransitional |               |                 |                     |
|  Living Pro |               |                 |                     |
| gram (TLP)  |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| **Homeless  | Provides up   | Gives young     | Programs are        |
| youth ages  | to 18 months  | people a chance | limited or          |
| 16-21**     | of residence  | to leave the    | non-existent        |
|             | and           | streets and to  | depending on        |
|             | supportive    | gain skills and | geographic area     |
|             | services      | resources to    |                     |
|             |               | prevent future  |                     |
|             |               | homeless        |                     |
|             |               | episodes        |                     |
+-------------+---------------+-----------------+---------------------+
|             |               |                 | Program has time    |
|             |               |                 | limits              |
+-------------+---------------+-----------------+---------------------+
|             |               |                 | Limited aftercare   |
|             |               |                 | services            |
+-------------+---------------+-----------------+---------------------+
| Funding     | US Department |                 |                     |
| Agency      | of Health and |                 |                     |
|             | Human         |                 |                     |
|             | Service,      |                 |                     |
|             | A             |                 |                     |
|             | dministration |                 |                     |
|             | of Children   |                 |                     |
|             | and Families  |                 |                     |
|             | --            |                 |                     |
|             |               |                 |                     |
|             | <http://      |                 |                     |
|             | www.acf.dhhs. |                 |                     |
|             | gov/programs/ |                 |                     |
|             | cb/index.htm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | The Family    |                 |                     |
| ministering | and Youth     |                 |                     |
| O           | Services      |                 |                     |
| rganization | Bureau -      |                 |                     |
|             | <http://w     |                 |                     |
|             | ww.acf.hhs.go |                 |                     |
|             | v/programs/fy |                 |                     |
|             | sb/index.htm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | National      |                 |                     |
| Resources   | Alliance to   |                 |                     |
|             | End           |                 |                     |
|             | H             |                 |                     |
|             | omelessness - |                 |                     |
|             | <http://www.e |                 |                     |
|             | ndhomelessnes |                 |                     |
|             | s.org/youth/> |                 |                     |
|             |               |                 |                     |
|             | National      |                 |                     |
|             | Network for   |                 |                     |
|             | Youth -       |                 |                     |
|             | <h            |                 |                     |
|             | ttp://www.nn4 |                 |                     |
|             | youth.org/sit |                 |                     |
|             | e/PageServer> |                 |                     |
+-------------+---------------+-----------------+---------------------+

**[Federal Resources for Housing Youth only ages 18 and
older]{.underline}**

+-------------+---------------+-----------------+---------------------+
| ###         |               |                 |                     |
| Family Unif |               |                 |                     |
| ication Pro |               |                 |                     |
| gram (FUP)  |               |                 |                     |
| Vouchers -- |               |                 |                     |
|  Section 8  |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| **Very      | Vouchers      | Allows young    | Local Public        |
| low-income  | subsidize     | people to use   | Housing Authorities |
| families,   | rent based on | voucher on      | (PHAs) may          |
| including   | a             | housing         | establish           |
| families of | pproximations |                 | preferences for     |
| one adult   | of one-third  |                 | selecting           |
| and the     | of an         |                 | applications        |
| disabled**  | applicant's   |                 |                     |
|             | income        |                 | *(Section 8 waiting |
|             |               |                 | list are very       |
|             |               |                 | long)*              |
+-------------+---------------+-----------------+---------------------+
| **Youth     |               | Accompanied     | FUP vouchers for    |
| ages 18 and |               | with supportive | youth are limited   |
| older**     |               | services        | to 18 months        |
+-------------+---------------+-----------------+---------------------+
|             |               |                 | FUP vouchers are    |
|             |               |                 | extremely limited;  |
|             |               |                 | no new vouchers     |
|             |               |                 | since 2001          |
+-------------+---------------+-----------------+---------------------+
| Funding     | Department of |                 |                     |
| Agency      | Housing and   |                 |                     |
|             | Urban         |                 |                     |
|             | Development - |                 |                     |
|             | <htt          |                 |                     |
|             | p://www.hud.g |                 |                     |
|             | ov/offices/pi |                 |                     |
|             | h/programs/hc |                 |                     |
|             | v/family.cfm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | Local Public  |                 |                     |
| ministering | Housing       |                 |                     |
| O           | Agency -      |                 |                     |
| rganization | <http://www.h |                 |                     |
|             | ud.gov/office |                 |                     |
|             | s/pih/systems |                 |                     |
|             | /pic/haprofil |                 |                     |
|             | es/index.cfm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | Child Welfare |                 |                     |
| Resources   | League of     |                 |                     |
|             | America -     |                 |                     |
|             | <http://www.  |                 |                     |
|             | cwla.org/prog |                 |                     |
|             | rams/housing/ |                 |                     |
|             | overview.htm> |                 |                     |
|             | and FUP       |                 |                     |
|             | vouchers held |                 |                     |
|             | by state -    |                 |                     |
|             | <htt          |                 |                     |
|             | p://www.cwla. |                 |                     |
|             | org/programs/ |                 |                     |
|             | housing/FY200 |                 |                     |
|             | 1CumList.xls> |                 |                     |
+-------------+---------------+-----------------+---------------------+

+-------------+---------------+-----------------+---------------------+
| ###         |               |                 |                     |
|  Home Inves |               |                 |                     |
| tment Partn |               |                 |                     |
| ership Prog |               |                 |                     |
| ram (HOME)  |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| *           | Assist        | Funds can be    | Every dollar of     |
| *Determined | cities,       | used to develop | HOME funds must be  |
| by grantees | counties and  | transitional    | matched (except for |
| which can   | nonprofit     | housing,        | administrative      |
| be          | community     | permanent       | costs) with 25      |
| Community   | housing       | supportive      | cents from          |
| Housing     | development   | housing,        | nonfederal sources, |
| Development | organizations | affordable      | which may include   |
| Or          | (CHDOs) to    | rental housing, | donated materials   |
| ganizations | create and    | homeownership   | or labor, the value |
| (CHDO),     | retain        | units that      | of donated          |
| cities, or  | affordable    | include         | property, proceeds  |
| counties**  | housing via   | low-income      | from bond           |
|             | low-interest  | youth           | financing, and      |
|             | loans to      |                 | other resources     |
|             | st            |                 |                     |
|             | ate-certified |                 |                     |
|             | CHDOs         |                 |                     |
|             | operating in  |                 |                     |
|             | s             |                 |                     |
|             | tate-eligible |                 |                     |
|             | jurisdictions |                 |                     |
+-------------+---------------+-----------------+---------------------+
|             | Participating | Housing         | Access to funds may |
|             | jurisdictions | developments    | be limited          |
|             | must reserve  | can serve       |                     |
|             | at least 15   | low-income      | *(Program funds are |
|             | percent of    | youth ages 18   | allocated to        |
|             | their         | and older       | participating       |
|             | allocations   |                 | jurisdictions on    |
|             | to fund       |                 | the basis of a      |
|             | housing to be |                 | formula that        |
|             | owned,        |                 | considers the       |
|             | developed, or |                 | relative inadequacy |
|             | sponsored by  |                 | of each             |
|             | nonprofit     |                 | jurisdiction\'s     |
|             | groups        |                 | housing supply, its |
|             | designated as |                 | incidence of        |
|             | CHDOs         |                 | poverty, its fiscal |
|             |               |                 | distress, and other |
|             |               |                 | factors.)*          |
+-------------+---------------+-----------------+---------------------+
| Funding     | Department of |                 |                     |
| Agency      | Housing and   |                 |                     |
|             | Urban         |                 |                     |
|             | Development - |                 |                     |
|             | <             |                 |                     |
|             | http://www.hu |                 |                     |
|             | d.gov./office |                 |                     |
|             | s/cpd/afforda |                 |                     |
|             | blehousing/pr |                 |                     |
|             | ograms/home/> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | State and     |                 |                     |
| ministering | local         |                 |                     |
| O           | governments   |                 |                     |
| rganization | *(called      |                 |                     |
|             | participating |                 |                     |
|             | jurisdictions |                 |                     |
|             | or \"PJs\")*  |                 |                     |
|             | -<http        |                 |                     |
|             | ://www.hud.go |                 |                     |
|             | v/offices/cpd |                 |                     |
|             | /affordableho |                 |                     |
|             | using/program |                 |                     |
|             | s/home/contac |                 |                     |
|             | ts/index.cfm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | Corporation   |                 |                     |
| Resources   | for           |                 |                     |
|             | Supportive    |                 |                     |
|             | Housing -     |                 |                     |
|             | <h            |                 |                     |
|             | ttp://www.csh |                 |                     |
|             | .org/index.cf |                 |                     |
|             | m?fuseaction= |                 |                     |
|             | Page.viewPage |                 |                     |
|             | &pageID=3148> |                 |                     |
+-------------+---------------+-----------------+---------------------+

+-------------+---------------+-----------------+---------------------+
| ###         |               |                 |                     |
|  McKinney-V |               |                 |                     |
| ento Homele |               |                 |                     |
| ss Assistan |               |                 |                     |
| ce Programs |               |                 |                     |
|  -- Support |               |                 |                     |
| ive Housing |               |                 |                     |
|  Program (S |               |                 |                     |
| HP), Single |               |                 |                     |
|  Room Occup |               |                 |                     |
| ancy Dwelli |               |                 |                     |
| ngs (SRO),  |               |                 |                     |
| and Shelter |               |                 |                     |
|  Plus Care  |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| **SHP and   | SHP --        | HUD awards      | Limited supply of   |
| SRO-        | Provides      | funds           | funds               |
| Homeless    | rental        | competitively   |                     |
| youth ages  | assistance    | through local   |                     |
| 18 and      | payments      | "Continuum of   |                     |
| older**     |               | Care" (CoC)-    |                     |
|             |               |                 |                     |
|             |               | *(Youth housing |                     |
|             |               | providers can   |                     |
|             |               | work in         |                     |
|             |               | collaboration   |                     |
|             |               | with CoCs at    |                     |
|             |               | the planning    |                     |
|             |               | stages to       |                     |
|             |               | include         |                     |
|             |               | allocations for |                     |
|             |               | youth housing)* |                     |
+-------------+---------------+-----------------+---------------------+
|             | SRO- Funds    |                 |                     |
|             | supportive    |                 |                     |
|             | housing and   |                 |                     |
|             | services      |                 |                     |
|             | through       |                 |                     |
|             | Section 8     |                 |                     |
|             | rental        |                 |                     |
|             | assistance    |                 |                     |
|             | payments      |                 |                     |
+-------------+---------------+-----------------+---------------------+
| **SPC-      | SPC- Provides |                 |                     |
| Homeless    | housing and   |                 |                     |
| youth ages  | supportive    |                 |                     |
| 18 and      | services on   |                 |                     |
| older with  | long-term     |                 |                     |
| serious     | basis         |                 |                     |
| mental      |               |                 |                     |
| illness,    |               |                 |                     |
| chronic     |               |                 |                     |
| substance   |               |                 |                     |
| abuse       |               |                 |                     |
| problems,   |               |                 |                     |
| other       |               |                 |                     |
| di          |               |                 |                     |
| sabilities, |               |                 |                     |
| and/or      |               |                 |                     |
| AIDS**      |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Funding     | Department of |                 |                     |
| Agency      | Housing and   |                 |                     |
|             | Urban         |                 |                     |
|             | Development - |                 |                     |
|             | <http://w     |                 |                     |
|             | ww.hud.gov./o |                 |                     |
|             | ffices/cpd/ho |                 |                     |
|             | meless/progra |                 |                     |
|             | ms/index.cfm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | Continuum of  |                 |                     |
| ministering | Care contacts |                 |                     |
| O           | --            |                 |                     |
| rganization | <htt          |                 |                     |
|             | p://www.hud.g |                 |                     |
|             | ov/offices/cp |                 |                     |
|             | d/homeless/pr |                 |                     |
|             | ograms/cont/c |                 |                     |
|             | oc/index.cfm> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | Guide to      |                 |                     |
| Resources   | Continuum of  |                 |                     |
|             | Care          |                 |                     |
|             | Planning -    |                 |                     |
|             | <http://170.9 |                 |                     |
|             | 7.167.13/offi |                 |                     |
|             | ces/cpd/homel |                 |                     |
|             | ess/library/c |                 |                     |
|             | oc/cocguide/> |                 |                     |
|             | and           |                 |                     |
|             | <http://www.h |                 |                     |
|             | ud.gov/office |                 |                     |
|             | s/cpd/homeles |                 |                     |
|             | s/programs/co |                 |                     |
|             | nt/index.cfm> |                 |                     |
+-------------+---------------+-----------------+---------------------+

+-------------+---------------+-----------------+---------------------+
| ##          |               |                 |                     |
| # Federal H |               |                 |                     |
| ome Loan Ba |               |                 |                     |
| nk -- Affor |               |                 |                     |
| dable Housi |               |                 |                     |
| ng Program  |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| **Federal   | Subsidizes    | Provides gap    | Organizations       |
| Home Loan   | the cost of   | financing with  | seeking to develop  |
| Bank member | housing for   | flexible funds  | a supportive        |
| i           | very          | for affordable  | housing project     |
| nstitutions | low-income    | housing         | must partner with a |
| and their   | and low- or   | projects that   | FHLB member         |
| partner     | mo            | can include     |                     |
| orga        | derate-income | transitional    |                     |
| nizations** | o             | and permanent   |                     |
|             | wner-occupied | supportive      |                     |
|             | and rental    | housing,        |                     |
|             | housing       | affordable      |                     |
|             |               | rental housing, |                     |
|             |               | and             |                     |
|             |               | owner-occupied  |                     |
|             |               | housing         |                     |
+-------------+---------------+-----------------+---------------------+
|             | The subsidy   | Projects        | Non-profit          |
|             | may be        | serving         | organizations and   |
|             | provided in   | homeless        | government entities |
|             | the form of a | populations,    | are not the only    |
|             | grant or a    | special needs   | types of eligible   |
|             | below market  | populations,    | partners            |
|             | interest rate | and very        |                     |
|             | loan from the | low-income      |                     |
|             | FHLB to a     | households,     |                     |
|             | member lender | receive         |                     |
|             | bank that is  | additional      |                     |
|             | partnering    | points in the   |                     |
|             | with a        | application     |                     |
|             | housing       | scoring process |                     |
|             | developer     |                 |                     |
|             | (typically a  |                 |                     |
|             | non-profit    |                 |                     |
|             | organization) |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Funding     | Federal       |                 |                     |
| Agency      | Housing       |                 |                     |
|             | Finance       |                 |                     |
|             | Board -       |                 |                     |
|             | <ht           |                 |                     |
|             | tp://www.fhfb |                 |                     |
|             | .gov/Default. |                 |                     |
|             | aspx?Page=47> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | Federal Home  |                 |                     |
| ministering | Loan Bank -   |                 |                     |
| O           | <http         |                 |                     |
| rganization | ://www.fhlban |                 |                     |
|             | ks.com/html/p |                 |                     |
|             | rograms.html> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | Corporation   |                 |                     |
| Resources   | for           |                 |                     |
|             | Supportive    |                 |                     |
|             | Housing -     |                 |                     |
|             | <             |                 |                     |
|             | http://www.cs |                 |                     |
|             | h.org/index.c |                 |                     |
|             | fm?fuseaction |                 |                     |
|             | =Page.viewPag |                 |                     |
|             | e&pageID=529> |                 |                     |
+-------------+---------------+-----------------+---------------------+

+-------------+---------------+-----------------+---------------------+
| ### Low-I   |               |                 |                     |
| ncome Housi |               |                 |                     |
| ng Tax Cred |               |                 |                     |
| it (LIHTC)  |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| *           | Creates an    | Largest source  | Only permanent      |
| *Determined | incentive for | of capital      | rental housing      |
| locally by  | private       | financing for   | projects are        |
| the grantee | investment in | affordable      | eligible for tax    |
| which can   | low-income    | rental housing  | credits, with some  |
| be          | housing       |                 | minor exceptions    |
| for-profit  | development   |                 | for transitional    |
| developers, | by giving     |                 | housing when used   |
| non-profit  | federal tax   |                 | in conjunction with |
| org         | credits to    |                 | specific federal    |
| anizations, | investors     |                 | programs (e.g.      |
| government  |               |                 | McKinney Act Funds) |
| entities,   |               |                 |                     |
| joint       |               |                 |                     |
| ventures,   |               |                 |                     |
| pa          |               |                 |                     |
| rtnerships, |               |                 |                     |
| limited     |               |                 |                     |
| pa          |               |                 |                     |
| rtnerships, |               |                 |                     |
| trusts,     |               |                 |                     |
| c           |               |                 |                     |
| orporations |               |                 |                     |
| or limited  |               |                 |                     |
| liability   |               |                 |                     |
| cor         |               |                 |                     |
| porations** |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
|             | Subsidy used  | Credits can be  | Applications for    |
|             | to finance    | allocated for   | "9%" credits are    |
|             | the           | new             | extremely           |
|             | development   | construction or | competitive;        |
|             | of affordable | rehabilitation  | applicants must     |
|             | rental        | projects        | demonstrate long    |
|             | housing for   |                 | term economic       |
|             | low-income    |                 | sustainability to   |
|             | households    |                 | win credit awards   |
+-------------+---------------+-----------------+---------------------+
|             | There are     | Develop housing | The federal tax     |
|             | "9%" and "4%" | for low-income  | code authorizes     |
|             | tax credits   | youth           | each state a capped |
|             | awards        |                 | allocation of Low   |
|             |               |                 | Income Housing Tax  |
|             | *(4% tax      |                 | Credits. The annual |
|             | credits are   |                 | amount is based     |
|             | used in       |                 | upon the state\'s   |
|             | combination   |                 | population          |
|             | with private  |                 |                     |
|             | activity      |                 |                     |
|             | bonds)*       |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Funding     | Internal      |                 |                     |
| Agency      | Revenue       |                 |                     |
|             | Service -     |                 |                     |
|             | <http://      |                 |                     |
|             | www.irs.gov/> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | State housing |                 |                     |
| ministering | agencies -    |                 |                     |
| O           | <htt          |                 |                     |
| rganization | p://www.ncsha |                 |                     |
|             | .org/section. |                 |                     |
|             | cfm/4/39/187> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | The National  |                 |                     |
| Resources   | Council of    |                 |                     |
|             | State Housing |                 |                     |
|             | Agencies -    |                 |                     |
|             | <ht           |                 |                     |
|             | tp://www.ncsh |                 |                     |
|             | a.org/section |                 |                     |
|             | .cfm/3/34/35> |                 |                     |
|             |               |                 |                     |
|             | Corporation   |                 |                     |
|             | for           |                 |                     |
|             | Supportive    |                 |                     |
|             | Housing -     |                 |                     |
|             | <             |                 |                     |
|             | http://www.cs |                 |                     |
|             | h.org/index.c |                 |                     |
|             | fm?fuseaction |                 |                     |
|             | =Page.viewPag |                 |                     |
|             | e&pageID=445> |                 |                     |
|             |               |                 |                     |
|             | Department of |                 |                     |
|             | Housing and   |                 |                     |
|             | Urban         |                 |                     |
|             | Development - |                 |                     |
|             | <http://ww    |                 |                     |
|             | w.hud.gov/off |                 |                     |
|             | ices/cpd/affo |                 |                     |
|             | rdablehousing |                 |                     |
|             | /training/lih |                 |                     |
|             | tc/index.cfm> |                 |                     |
+-------------+---------------+-----------------+---------------------+

+-------------+---------------+-----------------+---------------------+
| ### Tax Exe |               |                 |                     |
| mpt Housing |               |                 |                     |
|  Bonds -- P |               |                 |                     |
| rivate Acti |               |                 |                     |
| vity Bonds  |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| *           | State and     | Large source of | Access to funds may |
| *Determined | local         | affordable      | be limited          |
| locally by  | governments   | housing capital |                     |
| the grantee | sell          | funds           | *(The federal tax   |
| which can   | tax-exempt    |                 | code authorizes     |
| be private  | Housing Bonds |                 | each state a capped |
| developers  | and use the   |                 | allocation of       |
| or          | proceeds to   |                 | tax-exempt bond.    |
| b           | finance       |                 | The annual amount   |
| usinesses** | low-cost      |                 | is based upon the   |
|             | mortgages for |                 | state\'s            |
|             | lower income  |                 | population)*        |
|             | first-time    |                 |                     |
|             | homebuyers or |                 |                     |
|             | the creation  |                 |                     |
|             | of apartments |                 |                     |
|             | at rents      |                 |                     |
|             | affordable to |                 |                     |
|             | lower income  |                 |                     |
|             | families      |                 |                     |
|             |               |                 |                     |
|             | (*Commonly    |                 |                     |
|             | known as      |                 |                     |
|             | Mortgage      |                 |                     |
|             | Revenue Bonds |                 |                     |
|             | (MRBs) and    |                 |                     |
|             | Multifamily   |                 |                     |
|             | Housing       |                 |                     |
|             | Bonds*)       |                 |                     |
+-------------+---------------+-----------------+---------------------+
|             |               | Financed        | Subsidy levels are  |
|             |               | developments    | less than those     |
|             |               | must set aside  | provided by 9% Low  |
|             |               | at least 40% of | Income Housing Tax  |
|             |               | their           | Credits             |
|             |               | apartments for  |                     |
|             |               | families with   |                     |
|             |               | incomes of 60%  |                     |
|             |               | of area median  |                     |
|             |               | income (AMI) or |                     |
|             |               | less, or 20%    |                     |
|             |               | for families    |                     |
|             |               | with incomes of |                     |
|             |               | 50% of AMI or   |                     |
|             |               | less.           |                     |
+-------------+---------------+-----------------+---------------------+
| Funding     | Internal      |                 |                     |
| Agency      | Revenue       |                 |                     |
|             | Service --    |                 |                     |
|             | <http://      |                 |                     |
|             | www.irs.gov/> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | State housing |                 |                     |
| ministering | agencies -    |                 |                     |
| O           | <htt          |                 |                     |
| rganization | p://www.ncsha |                 |                     |
|             | .org/section. |                 |                     |
|             | cfm/4/39/187> |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | The National  |                 |                     |
| Resources   | Council of    |                 |                     |
|             | State Housing |                 |                     |
|             | Agencies -    |                 |                     |
|             | <ht           |                 |                     |
|             | tp://www.ncsh |                 |                     |
|             | a.org/section |                 |                     |
|             | .cfm/3/34/36> |                 |                     |
|             |               |                 |                     |
|             | National      |                 |                     |
|             | Low-Income    |                 |                     |
|             | Housing       |                 |                     |
|             | Coalition -   |                 |                     |
|             | <http://ww    |                 |                     |
|             | w.nlihc.org/a |                 |                     |
|             | dvocates/hous |                 |                     |
|             | ingbonds.htm> |                 |                     |
+-------------+---------------+-----------------+---------------------+

+-------------+---------------+-----------------+---------------------+
| ### Tax Exe |               |                 |                     |
| mpt Housing |               |                 |                     |
|  Bonds - 50 |               |                 |                     |
| 1(c)(3) Tax |               |                 |                     |
| -Exempt Bon |               |                 |                     |
| d Financing |               |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Eligibility | **Purpose**   | **Advantages**  | **Constraints**     |
+-------------+---------------+-----------------+---------------------+
| *           | Issued by a   | Less            | Nonprofits have a   |
| *Determined | government    | competition     | lifelong cap of no  |
| locally by  | agency, not   | than            | more than \$150     |
| the grantee | on behalf of  | p               | million in bond     |
| which can   | the           | rivate-activity | proceeds            |
| be a        | government    | bonds           | outstanding at any  |
| sin         | but on behalf |                 | one time on all     |
| gle-purpose | of a          | *(There is no   | multifamily housing |
| nonprofit   | nonprofit     | state cap on    | developments they   |
| borrower    | organization  | how much can be | control             |
| who will    | exempt from   | issued in a     |                     |
| own the     | federal       | given year)*    |                     |
| housing     | taxation      |                 |                     |
| development | under Section |                 |                     |
| to be       | 501(c)(3) of  |                 |                     |
| financed**  | the Internal  |                 |                     |
|             | Revenue Code. |                 |                     |
+-------------+---------------+-----------------+---------------------+
|             | Interest paid | Flexibility     | Transaction costs   |
|             | to bond       |                 | may be very high,   |
|             | purchasers is | (*Generally     | often three to four |
|             | exempt from   | available       | percent of bond     |
|             | federal       | whenever a      | proceeds            |
|             | taxation      | project         |                     |
|             |               | requires it,    |                     |
|             |               | whereas tax     |                     |
|             |               | credits often   |                     |
|             |               | are allocated   |                     |
|             |               | only once or    |                     |
|             |               | twice a year    |                     |
|             |               | and it offers   |                     |
|             |               | attractive      |                     |
|             |               | interest rates, |                     |
|             |               | often over a    |                     |
|             |               | 30-year term*)  |                     |
+-------------+---------------+-----------------+---------------------+
|             |               |                 | Primarily not       |
|             |               |                 | intended for        |
|             |               |                 | multifamily housing |
|             |               |                 |                     |
|             |               |                 | *(as the case with  |
|             |               |                 | private activity    |
|             |               |                 | bonds)*             |
+-------------+---------------+-----------------+---------------------+
| Funding     | Internal      |                 |                     |
| Agency      | Revenue       |                 |                     |
|             | Service --    |                 |                     |
|             | [www.irs      |                 |                     |
|             | .gov](http:// |                 |                     |
|             | www.irs.gov/) |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Ad          | State Office  |                 |                     |
| ministering | of Economic   |                 |                     |
| O           | Development   |                 |                     |
| rganization | or State      |                 |                     |
|             | Office of the |                 |                     |
|             | Treasury      |                 |                     |
+-------------+---------------+-----------------+---------------------+
| Additional  | The National  |                 |                     |
| Resources   | Council of    |                 |                     |
|             | State Housing |                 |                     |
|             | Agencies -    |                 |                     |
|             | <ht           |                 |                     |
|             | tp://www.ncsh |                 |                     |
|             | a.org/section |                 |                     |
|             | .cfm/3/34/36> |                 |                     |
|             |               |                 |                     |
|             | The           |                 |                     |
|             | Enterprise    |                 |                     |
|             | Foundation -  |                 |                     |
|             | <http://      |                 |                     |
|             | www.enterpris |                 |                     |
|             | efoundation.o |                 |                     |
|             | rg/pubsnews/b |                 |                     |
|             | b/cc6974.asp> |                 |                     |
+-------------+---------------+-----------------+---------------------+