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.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: Partnering with transit agencies has been key to Matthew Greer’s success in developing transit-oriented affordable rental housing projects in South Florida.
Caitlin Jones • 2 min read
By Harry J. Kelly, Nixon Peabody LLP
Tax Credit Advisor, December 2010: For years, developers and investors have known that in order to qualify for low income housing tax credits (“LIHTCs”), owners have to show that their units are “available to the general public.” According to Treasury Reg. ¤1.42-9(a), this means that, among other things, the units must be rented in a manner that is consistent with HUD rules implementing the Fair Housing Act (“FHAct”).
Caitlin Jones • 2 min read
Tax Credit Advisor, December 2010: With funding gaps for new tax credit projects quite common, state tax credits are more important than ever in providing the extra juice to get deals to closing. But state tax credits vary widely in their structure and appeal to developers and investors, with significant pricing differences that greatly alter the amount of equity that they generate for real estate projects.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2010: Two years after its launch by the U.S. Department of Housing and Urban Development (HUD), so-called Lean Processing of Federal Housing Administration (FHA) Section 232 health care mortgages has produced a number of benefits. But a large backlog of pending applications is preventing this initiative from reaching its full potential.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2010: The Internal Revenue Services has provided additional guidance regarding physical suitability requirements for low-income housing tax credit projects, in a new Chief Counsel Advisory (No. 201042025) released October 22.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2010: The U.S. Department of Housing and Urban Development (HUD) is about to make further improvements to its Federal Housing Administration (FHA) multifamily mortgage insurance programs, including a new tax credit pilot program to roll out in the first quarter of 2011.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2010: The Republican takeover of the U.S. House of Representatives in the mid-term elections creates more questions than answers regarding what Congress might do regarding affordable housing and community development issues going forward.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2010: In a multi-ethnic corner of recession-ravaged Detroit, a local nonprofit is renovating an historic building originally used as a cigar factory into a modern health and services center for low-income families.