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Cedar Valley Kids: Addressing Local Childcare Needs Through Community Collaboration and Employer Partnerships
As part of the Chicago Fed’s Spotlight on Childcare and the Labor Market, we describe the Black Hawk County Child Care Coalition—a burgeoning alliance of community partners in northeast Iowa working to create a local solution for a local challenge. We also explain what went into recently launching the Cedar Valley Kids (CVK) childcare facility in Black Hawk County—the culmination of years of effort by the coalition to help address local childcare shortages in the wider six-county region.
Community Development Snapshot: Working Alongside Rural Communities to Expand Housing Opportunity
The number of cost-burdened renters—those spending over 30% of their income on housing—has reached an all-time high. This trend is reflected in many communities across the Seventh Federal Reserve District: Renters in urban centers, such as Chicago, Detroit, and Milwaukee, as well as those in rural areas, face increasing rent costs that outpace wage growth.1 In many of these places, affordable housing supply remains limited, while demand continues to grow, exacerbating housing insecurity and reinforcing the need for inclusive housing solutions.
Newsletter
Expirations and Early Exits of LIHTC Units: Implications for the Affordable Housing Stock
The Low-Income Housing Tax Credit (LIHTC) is the nation’s largest source of financing for the development and preservation of affordable rental housing. The program provides tax credits to developers that may cover a portion of their acquisition, construction, and rehabilitation costs. In exchange for these credits, developers must ensure affordability for tenants whose earnings are at or below specific percentages of the area median income (AMI) with rental rates that do not exceed 30% of their gross income. LIHTC affordability requirements last for 30 years at a minimum. The earliest ...