What is the minimum combined period of affordability for LIHTC properties?

The minimum combined period of affordability for Low-Income Housing Tax Credit (LIHTC) properties is indeed set at 30 years. This requirement ensures that the benefits provided by the tax credits are reflected in the long-term affordability of the housing. The 30-year affordability period is designed to guarantee that tenants can access lower rents through the duration of this period, thus promoting stability in housing affordability.

This extended timeframe allows for various factors to stabilize within the community and ensures that the investment in affordable housing yields broader social benefits over a significant duration. It reflects a commitment to addressing the ongoing need for affordable housing even after the initial tax credit period, which lasts for 10 years; this is crucial in helping low-income families secure long-term housing options.

In contrast, other durations listed do not align with the established regulation for tax credit properties, which is rooted in creating lasting impacts on housing affordability.