Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: The John D. and Catherine T. MacArthur Foundation has seeded a new “enhanced” low-income housing tax credit (LIHTC) fund providing added protection to investors against any cut-off of HUD Section 8 rent subsidies to financed projects.
The fund has two classes of investors with different yields and changing benefit ratios.
Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: The historic rehabilitation tax credit equity market is a bit improved from last fall in terms of the availability of equity and credit pricing to developers, say sources. The new markets tax credit (NMTC) market, because of the recent reauthorization of the program through 2011, should see increased flow of investor equity in the near future.
Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: Tax credit industry participants had mixed reactions to provisions in the major tax bill (H.R. 4853) signed into law by President Obama on December 17 (P.L. 111-312).
Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: In a significant ruling hailed by practitioners, the U.S. Tax Court has ruled against the Internal Revenue Service in its challenge of the structure of a transaction involving the $99 million historic rehabilitation of the former convention center in Atlantic City, N.J. The IRS could appeal the decision. (Historic Boardwalk Hall, LLC, New Jersey Sports and Exposition Authority v. Commissioner of Internal Revenue Service, Docket No. 11273-07, Jan. 3, 2011.)
Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: For developer Bob Greer and The Michaels Organization, the past year has been a period of multiple awards and positive recognition.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: Developers and investors need to be careful as they prepare to unwind their existing federal historic tax credit transactions, particularly if the deal also has other types of federal tax credits, speakers said at a recent Washington, D.C. conference held by the Institute for Professional and Executive Development.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: In Citrus Heights, Calif., a city near Sacramento, affordable housing developer USA Properties Fund, Inc. has completed the conversion of a low-income housing tax credit (LIHTC) property to renewable solar power, in a step expected to help the company shape a future solar strategy for its entire portfolio.
Caitlin Jones • 1 min read
Tax Credit Advisors, January 2011: Some developers are putting the pedal to the metal when it comes to green building – aiming for “net zero” in designing and constructing new affordable multifamily housing projects.</p
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: A bipartisan panel appointed by Missouri Gov. Jay Nixon has recommended sweeping changes to the state’s tax credit programs, to make them more efficient and cut their cost.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: At least two recipients of federal Capital Magnet Fund program grants plan to use the dollars to support low-income housing tax credit (LIHTC) projects under initiatives rolled out in 2011.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: Congress passed a major tax cut plan containing “extenders,” and was deciding how to fund the federal government into 2011, as the Tax Credit Advisor went to press in mid-December.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: The federal new markets tax credit is enabling the National Dance Institute to create a permanent home for itself and for a new educational and cultural center in a completed development in New York City.