Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: On March 10, Democratic members of the House Ways and Means Committee introduced a bill containing tax credit and bond provisions. The bill’s fate is unclear, given Republican control of the House and other factors.
Caitlin Jones • 1 min read
Tax Credit Advisor, April 2011: There’s one more log for the fire in the Washington debate about the federal budget deficit. The Congressional Budget Office has issued a new 256-page report that lays out a broad array of specific possible options for cutting the federal deficit, some of them absent from a flurry of similar reports issued a few months ago and some that would directly impact housing and community development.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: Approximately 1,000 low-income housing tax credit (LIHTC) properties reach the end of their 15-year compliance period each year and enter into their extended use period, which lasts at least through the 30th year. At the end of Year 15, properties may be ripe for a sale or transfer, but at the very least must be preparing for transition to the extended use period.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: An ad hoc group of community development entities (CDEs) is developing recommended standards and best practices for community impact analysis for real estate, community facility, and business projects financed by or seeking federal new markets tax credits.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: “Partnerships are hard, says Jeffrey Hettleman, principal and executive vice president of Baltimore-based Shelter Development, LLC. “Public-private partnerships are hard.” But, he quickly adds, they can be richly rewarding, such as in the case of Monarch Mills.
Caitlin Jones • 1 min read
It’s not just the tenant files. Effectively managing a low-income housing tax credit property these days means more than just dotting all the i’s and crossing all the t’s to make sure that the program’s compliance rules are met so investors can get their credits.
Caitlin Jones • 2 min read
Tax Credit Advisor, March 2011: With the help of historic rehabilitation and new markets tax credits, a 151-year-old former firehouse in Boston is being renovated into offices in a $2.2 million project by Historic Boston, Inc., a local nonprofit real estate and historic preservation organization.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: On February 14, the Obama Administration released its proposed FY 2012 federal budget calling for reduced spending for a number of housing and community development programs, even as federal funding levels remained unsettled for the rest of FY 2011, which ends September 30.
Caitlin Jones • 2 min read
Tax Credit Advisor, March 2011: Will Cooper Sr. and Will Cooper Jr. own and operate WNC & Associates, Inc., an Irvine, Calif.-based syndicator of low-income housing tax credits. The privately-owned company also operates a community development entity and syndicates federal new markets tax credits. Recently, the pair discussed their company and industry issues.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: Affordable housing advocates, including those in the low-income housing tax credit industry, are distressed over a budget proposal by new California Gov. Jerry Brown to eliminate the state’s local redevelopment agencies and to redirect the use of the redevelopment funds that they now control.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: Normally a developer gets to own a low-income housing tax credit project – or at least a small piece of one – by securing the financing and building the property.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: Evolution is critical to the success of any creative endeavor. Since 2004, Enterprise has partnered with leading affordable housing organizations and green building experts to deliver cost-effective green development strategies and move the market.