National Housing Trust (NHT) released new “Infobriefs” related to Preservation, as part of their Housing Credit toolkit, to explain how allocating agencies are integrating policies into their QAPs that create and preserve housing options that are stable, resilient, and foster agency.
Preservation and Housing Quality
HFAs define and encourage the preservation of existing Housing Credit properties. Policies in the QAP also encourage the rehabilitation of Housing Credit properties to ensure that owners are providing quality housing.
HFAs are proactively promoting the long-term affordability of existing Housing Credit properties and working to combat key threats that endanger the long-term affordability of existing homes through set-asides, incentive points, and other provisions.
Preservation and the 4 Percent Credit
The 4 percent credit provides a smaller yet historically reliable option to finance the acquisition and rehabilitation of affordable housing. With rising demand, HFAs must balance if and how they explicitly encourage preservation through the 4 percent credit.
