The LIHTC program is the predominate vehicle through which private equity is invested into large affordable rental housing projects in the United States. The program allocates federal tax credits to private investors in return for their capital contributions to a given project. It is one way the federal government provides market based incentives to investors to entice their participation in capital intensive projects that have a social benefit. However, it is not the only way that affordable housing is built or preserved. For this reason, it is important to note that this map does not represent the universe of affordable or publicly assisted housing in the Bay Area; it only shows those projects financed with the Low-Income Housing Tax Credit program.
For a better insight into how much is getting built, we’ve built a simple tool to show you all the Low Income Housing Tax Credit (LIHTC) developments across the state. These data represent activity from 1987 through 2014 which represents the beginning of the program the the most recent data available via HUD’s website here.