Financing Sources

LIHTC (Low Income Housing Tax Credit Program)

The 1986 Tax Reform Act created the Low Income Housing Tax Credit as an incentive to encourage the construction and rehabilitation of rental housing for lower-income households. The program offers credits on federal tax liabilities for 10 years. Individuals, corporations, partnerships and other legal entities may benefit from tax credits.

Annually, the U.S. Department of Treasury allocates tax credits to each state. Oregon Housing and Community Services (OHCS) administer the tax credit program for the state of Oregon.

Farmworker Housing Tax Credit Program (FWHTC)

The Farmworker Housing Tax Credit Program is designed to give a state income tax credit to investors who incur costs to construct, install, acquire or rehabilitate farmworker housing. A nonprofit organization may be eligible for this tax credit; although it does not pay taxes, it can “assign” the tax credit to an investor who invests money into the housing project.

HOME Investment Partnerships Program

The HOME Investment Partnerships Program provides federal funds for the development of affordable housing for low– and very low—income households. Our HOME funds have come through the administering agency which is Washington County’s Office of Community Development.

Housing Development Grant Program (“Trust Fund”)

The Housing Development Grant Program (“Trusts Fund”) was created to expand Oregon’s supply of housing for low– and very low-income families and individuals by providing funds to construct new housing or to acquire and/or rehabilitate existing structures.