Year 15 and the Preservation of Low-Income Housing Tax Credit Projects: Lessons from Detroit, Michigan

Abstract

This study examines the efforts to preserve the Low-Income Housing Tax Credits (LIHTC) projects that are at risk from their year-15 transition in Detroit, Michigan. Using the preservation framework recommended by the National Housing Trust, the paper first identifies the risks LIHTC projects in Detroit face. It then reports what major institutional actors in LIHTC developments have done in addressing those risks, with particular attention to the roles these actors have played in shaping preservation needs and actions. The study concludes by discussing what broader lessons can be learned from Detroit with regard to the preservation of LIHTC projects nationwide.