Caitlin Jones • 1 min read
Tax Credit Advisor, May 2011: Springtime in Washington, D.C. this year means budget frenzy – and the knives are out taking aim at housing.
Caitlin Jones • 1 min read
By John Leith-Tetrault, National Trust Community Investment Corporation
Tax Credit Advisor, May 2011:
The Historic Tax Credit Coalition (HTCC) is laying the groundwork for the introduction of legislation this spring to modernize the federal Historic Tax Credit (HTC).
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: The oldest HUD Section 202 project in New England is being renovated and recapitalized in a creative $17 million joint venture tax credit transaction of many “firsts” that may be a model for preserving other “old law” 202 developments.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: Working households in the U.S. have lost ground in housing affordability, with renters faring worse than homeowners, according to a new report by the National Housing Conference’s Center for Housing Policy.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: The new, Republican chairman of the House Financial Services Committee, which writes banking and housing legislation, suggested that affordable housing should be supported under any ultimate housing finance reform law in comments at a March 1 hearing.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: The $3.5 billion in 2010 New Markets Tax Credit (NMTC) allocation awards announced on February 24 by the Community Development Financial Institutions Fund (CDFI Fund) reflect some patterns and surprises.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: A congressman from Western New York State has written to the National Park Service complaining about its interpretation of the regulations governing eligibility for historic rehabilitation tax credits in an effort to improve access to this tax incentive for large and complex historic preservation projects.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: Which would you rather have: a property with 1.10 debt service coverage, or one with 1.25 coverage?
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: The U.S. Department of Housing and Urban Development will probably launch its pilot program for processing FHA multifamily mortgage insurance applications for low-income housing tax credit projects this summer. It may also release its updated ÒMAPÓ underwriting guide and revised multifamily loan documents around the same time, according to HUD official Christopher Tawa.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: Operating costs have held relatively steady the past couple of years for affordable apartment properties, including those funded by low-income housing tax credits. But as the nascent recovery takes hold and strengthens, inflation and operating costs are certain to tick upwards. Given this, LIHTC owners and property managers should consider steps to manage and reduce energy and water usage at their properties through efficiency improvements.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: The National Park Service has begun posting administrative decision letters for historic certified review appeals on its Web site. These are cases where the Park Service has said that a proposed rehabilitation project does not satisfy the Interior Secretary’s Standards, as interpreted by the Park Service, to qualify for historic tax credits, and the project sponsor has appealed the decision.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: You have the equity path established for your new low-income housing tax credit project. Now you need to line up the debt. So what’s the best product for your deal?