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Developers can apply for federal Low-Income Housing Tax Credits to help them build affordable housing projects. The amount of credit depends largely on project costs.
Project costs we looked at varied widely (shown below), and federal oversight of costs is limited.
Congress imposed restrictions on some federal programs to prevent funding of business relocations. Congress expressed concerns about state and local governments using federal funds to attract jobs to one community at a loss of jobs to another and about compliance with relocation restrictions.
Congress established the Empowerment Zone and Enterprise Community (EZ/EC) program in 1993 and the Renewal Community (RC) program in 2000 to provide assistance to the nation's distressed communities. To date, Congress has authorized three rounds of EZs, two rounds of ECs, and one round of RCs.
Pursuant to a congressional request, GAO reviewed the characteristics of the residents and properties that have benefited from the Low-Income Housing Tax Credit program, focusing on assessing the impact of variations in characteristics such as the type or location of the property or the type of tenants...
GAO discussed the Farmers Home Administration's (FmHA) Rural Rental Housing Program, focusing on whether: (1) developers are receiving more federal financial assistance than needed to encourage construction of multifamily housing projects; and (2) fraud and abuse exists within FmHA multifamily housing...