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Abstract
Inner-city revitalization is a complex challenge requiring multiple strategies for success. Successful revitalization efforts must include quality housing opportunities for lower-income households. The federal Low Income Housing Tax Credit (LIHTC) program, established as part of the Tax Reform Act of 1986, is a policy tool that has the potential to contribute to inner-city revitalization. Program implementation is very complex, however, and many community-based organizations may be unable to participate due to lack of capacity. This article examined the structure of the LIHTC program and the extent to which it has been a part of inner-city revitalization efforts since the program’s inception. It also explored the implications of the LIHTC’s structure for continuing to contribute to inner-city revitalization through the participation of community-based housing organizations. Finally, recommendations were made for enhancing the effectiveness of the LIHTC in promoting quality housing opportunities in inner-city neighborhoods through the participation of community-based organizations.
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Notes on contributors
Marc T. Smith
Marc T. Smith is Professor, Department of Finance, DePaul University, Chicago, IL
Anne R. Williamson
Anne R. Williamson is Research Professor and Associate Director, Shimberg Center for Affordable Housing, University of Florida, Gainesville, FL.