#1
What is the maximum income limit for a household to qualify for affordable housing in many programs?
$100,000
ExplanationIncome threshold for eligibility.
#2
In the context of affordable housing, what does the term 'HUD' stand for?
Housing and Urban Development
ExplanationDefining agency acronym.
#3
What is the typical duration of affordability restrictions in many affordable housing programs?
30 years
ExplanationDuration of affordability commitments.
#4
What is the role of the Fair Housing Act in the United States?
Preventing discrimination in housing based on race, color, religion, sex, or national origin
ExplanationAnti-discrimination legislation.
#5
What is the primary goal of the 421-a tax exemption program in New York City?
Encouraging the development of affordable housing through tax incentives
ExplanationPromoting affordable housing construction.
#6
Which government agency is responsible for implementing and enforcing affordable housing regulations in the United States?
FHA (Federal Housing Administration)
ExplanationAgency overseeing regulations.
#7
What is the term 'AMGI' in the context of affordable housing?
Area Median Gross Income
ExplanationDefinition of income metric.
#8
What is the primary purpose of Inclusionary Zoning (IZ) in affordable housing policies?
Ensuring a certain percentage of new developments include affordable housing units
ExplanationPromoting housing inclusivity.
#9
What is the significance of the term 'rent burden' in affordable housing discussions?
Indicates the financial strain on a household due to high rent costs
ExplanationImpact of rent costs on households.
#10
Which of the following factors is NOT commonly considered when determining eligibility for affordable housing programs?
Car model
ExplanationIrrelevant eligibility criterion.
#11
Which of the following is NOT a common criterion for affordable housing eligibility?
Number of bedrooms
ExplanationNon-relevant eligibility factor.
#12
What is the role of LIHTC (Low-Income Housing Tax Credit) in affordable housing projects?
Offering tax incentives to developers for constructing affordable housing
ExplanationIncentivizing construction.
#13
Which federal act aimed at combating discrimination plays a crucial role in shaping fair housing practices for affordable housing?
Fair Housing Act
ExplanationLegislation addressing discrimination.
#14
What is the primary purpose of the Community Reinvestment Act (CRA) in the context of affordable housing?
Encouraging investment in low- to moderate-income neighborhoods
ExplanationPromoting investment in underserved areas.
#15
Which federal agency oversees the Section 8 Housing Choice Voucher Program, a key component of affordable housing assistance?
HUD (Housing and Urban Development)
ExplanationAgency managing voucher program.