The LIHTC Equity Market: Good Times or Worrisome Depends on Your Perspective

By Caitlin Jones
August 24, 2011 1 min read

The LIHTC Equity Market: Good Times or Worrisome Depends on Your Perspective

By Caitlin Jones
August 24, 2011 0 min read

Tax Credit Advisor, August 2011: Many syndicators are nervously wondering whether they will be able to retain so-called economic or “non-CRA” investors in their corporate low-income housing tax credit funds going forward. given the continuing decline in tax credit yields to investors.

One syndicator is trying to keep them in the fold by a different structure in its latest national multi-investor fund. The Richman Group’s new fund, expected to close around year-end at $250-$300 million, will offer a projected after-tax yield of 5.4% to investors (i.e. banks) that can get consideration for their fund investment under the Community Reinvestment Act (CRA), and 6.0% to investors that aren’t subject to CRA (e.g., insurance companies). CRA investors will pay a higher price for their investment and get the lower yield; non-CRA investors will pay less and get the higher yield. Both classes will invest in the same pool of properties located in both CRA and non-CRA markets.

NH&RA Presenting Sponsor

Leveraging NMTC and GGRF

A Synergistic Approach to Community Development

Jennifer Kirkley & Regan St. Pierre • September 13, 2024 6 min read

Increasingly, climate solutions are central to preserving and creating wealth and well-being in communities across the country.

What Can Be Done About Insurance?

NH&RA Panelists Explore Ways to Rein in High Insurance Costs for Affordable Housing

Pamela Martineau • September 1, 2024 6 min read

Meet with your underwriter in person, provide as much data as possible on relevant inspections and offer photos of improvements you’ve made to affordable housing properties. These were just a few of the tips offered at the National Housing & Rehabilitation Association’s Summer Institute Panel: “What Can Be Done About Insurance?”

Rainbow Housing: Transforming Resident Services from Within

Abram Mamet • September 1, 2024 9 min read

For most organizations, radical shifts in market strategy and company makeup generally come after crises. For Rainbow Housing Assistance Corporation (Rainbow), that radical shift came not as a result of significant challenges, but as a way to leverage successful internal practices to better serve the affordable housing industry.