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Low-Income Housing Tax Credit: The Role of Syndicators
GAO-17-285R: Published: Feb 16, 2017. Publicly Released: Mar 1, 2017.
The Low-Income Housing Tax Credit (LIHTC) established under the Tax Reform Act of 1986, is the largest source of federal assistance for developing affordable rental housing and has financed about 2.9 million rental units. LIHTCs encourage private-equity investment in low-income housing through tax credits. Developers of awarded projects typically attempt to obtain funding for their projects by att...
Information Technology: HUD Needs to Address Significant Weaknesses in Its Cost Estimating Practices
GAO-17-281: Published: Feb 7, 2017. Publicly Released: Feb 7, 2017.
The cost estimates that the Department of Housing and Urban Development (HUD) developed for the four selected information technology (IT) investments were unreliable and, thus, lacked a sound basis for informing the department's investment and budgetary decisions. GAO's Cost Estimating and Assessment Guide (Cost Guide) defines best practices that are associated with four characteristics of a rel...