Sixth Circuit Gives Statutory Context to Affordable Housing ROFRs

The federal low income housing tax credit (LIHTC) program, 26 U.S.C. § 42, is the largest driver of affordable housing in the country. In an effort to keep LIHTC projects affordable as long as possible, Congress created a safe harbor that allows certain types of entities, including nonprofits whose exempt purposes include fostering low-income housing, to…...
By: Holland & Knight LLP