Since its inception in 1986, the LIHTC program has helped create more than 3.1 million units of affordable housing, including nearly 2.6 million units affordable to low-income households. But what happens to these properties when their compliance periods end at year 15?

It turns out that most property owners—especially non-profits—continue to operate their properties as affordable housing beyond the term of IRS regulatory requirements. This is mostly due to the extended-use agreements that run with the land, but also fits with ownership’s approach to affordable housing preservation. There is also now a wide variety of sophisticated financial tools to secure the capital needed to preserve affordability.

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