We are a locally-owned accounting firm specializing in the affordable housing industry. Our goal is to provide high quality, affordable accounting services. Founded in 1986, Kenmore & Company has over 20 years experience in the affordable housing industry.
The United States Department of Housing and Urban Development (HUD) is the sponsor of various programs designed to revitalize urban neighborhoods, stimulate housing construction, encourage home ownership, and provide decent, safe and affordable housing. The primary focus of the programs is toward low and moderate income families.
The Low-Income Housing Tax Credit (LIHTC) is an indirect federal subsidy of low-income housing established by the Tax Reform Act of 1986. Taxpayers who qualify for the credit receive the subsidy by claiming a tax credit on their federal income tax returns. The credit generally offsets taxes dollar for dollar. The credit was created by Congress to encourage investment in affordable rental housing.
Rural Development (RD) administers rural business, cooperative, housing, utilities, and community development programs. It is within the U.S. Department of Agriculture. Rural Development is working to eliminate substandard housing from rural America by helping rural people buy, build or rent decent housing. The mission of Rural Development is, "To increase economic opportunity and improve the quality of life for all rural Americans."