$562M Awarded in Low-Income Housing Tax Credits to Developers for Chicago’s Affordable Housing Projects – Must Know!

Chicago’s Low-Income Housing Boost: $562M Investment with Tax Credits

Chicago’s Efforts with Low-Income Housing Tax Credits

Thirteen projects in Chicago got special money called Low-Income Housing Tax Credits to build cheap homes, according to the published article of The Real Deal. They’ll spend $562 million on these projects. The city also gave them $154 million extra from taxes and loans to help. The homes will be in different neighborhoods like West Pullman, Edgewater, and Lakeview.

These projects will help people who don’t have much money find homes they can afford. They’ll also offer services like support for people who need it. The people building these homes say there’s not enough cheap housing in Chicago so they’re working hard to fix that.

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Chicago’s Low-Income Housing Boost: $562M Investment with Tax Credits.  (PHOTO: Lansing State Journal)

Expanding Housing Affordability in Chicago through Low-Income Housing Tax Credits

Furthermore, Chicago wants to make sure everyone can find a place to live even if they don’t have a lot of money. These projects with Low-Income Housing Tax Credits are a big step toward making that happen. They’re teaming up with different groups to build homes in many neighborhoods across the city.

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