Low-Income Housing Tax Credit- ADAPT AND REUSE TOPIC

 Low Income Housing Tax Credits (LIHC) are credits for rental properties that provide low-income housing.  This federal subsidy used to finance the development of affordable rental housing for low-income households. Federal housing tax credits are awarded to developers of qualified projects. Investors like to participate in these types of projects because they get an equal return in tax credits and reduce their tax liability.
Studies have shown that most LIHTC properties remain affordable despite having passed the 15-year use restrictions mandated by the IRS.  

http://www.irs.gov/pub/irs-mssp/rehab.pdf

http://www.multihousingnews.com/news/hud-study-finds-most-lihtc-properties-still-affordable/1004061374.html 

http://portal.hud.gov/hudportal/HUD?src=/program_offices/comm_planning/affordablehousing/training/web/lihtc/basics

http://en.wikipedia.org/wiki/Low-Income_Housing_Tax_Credit