How the Tax Code Leads to the Creation of Affordable Housing
April 15, 2015
The statistics are daunting. California has 13 of the 14 least affordable metropolitan housing markets in the nation. Currently, more than 34 percent of working renters pay more than 50 percent of their income toward housing, and the State Department of Housing and Community Development estimates that California needs to build 220,000 new homes a year to keep up with population growth.
In this episode of the Affordable Housing Podcast, host Joanne Greene speaks to Mark Stivers, Executive Director of the California Tax Credit Allocation Committee (TCAC), which allocates tax credits for affordable housing development. Prior to joining TCAC in January of 2015, Mark served the California legislature for 18 years including 16 years as the lead housing staffer for the Senate.
RESOURCES
For additional information on this topic, visit:
http://treasurer.ca.gov/ctcac/
http://calhsng.org/affordable-housing-101/how-is-it-built/