Caitlin Jones • 5 min read
The enactment of the codification of economic substance doctrine generally shouldn’t hinder new transactions involving federal low-income housing, historic rehabilitation, new markets, or renewable energy tax credits, according to several prominent tax attorneys in the field.
Caitlin Jones • 6 min read
By Erik Whitton, Spectrum Enterprises, Inc.
In January 2007, the Internal Revenue Services issued the first edition of the 8823 Guide for the federal low-income housing tax credit program. Chapter 4 contained new guidance regarding acquisition/rehab projects, permitting acquisition tax credits to be claimed earlier than previously allowed, provided that the existing tenants are tax credit-certified within 120 days of the acquisition (closing) date and that rehab is completed in the same calendar year.
Caitlin Jones • 2 min read
HUD has discontinued its previous “hold harmless policy” used in calculating Section 8 program annual income limits, starting with the FY 2010 income limits. The Department, though, will limit all annual decreases in the income limits for affected areas to no more than 5%, and limit all annual increases to 5% or twice the change in the national median family income, whichever is greater.
Caitlin Jones • 3 min read
The Community Development Financial Institutions (CDFI) Fund has announced a new, eighth funding round for the federal new markets tax credit (NMTC) program, offering up to $5 billion in allocation authority.
Caitlin Jones • 14 min read
Might 2010 be “Dow 12,000″ for the tax credit market, a year in which every (good) tax credit project is able to land the equity and the debt needed to move forward?
Caitlin Jones • 5 min read
An increasing number of investors, owners, management companies, syndicators, and developers have begun outsourcing their low-income housing tax credit (LIHTC) compliance functions to consultants specializing in this service, rather than doing the work in-house.
Caitlin Jones • 3 min read
Gov. David Paterson has announced the appointment of Brian E. Lawlor as Commissioner of the New York State Division of Housing and Community Renewal (DHCR), and as CEO and President of “nyhomes.” The latter organization includes the New York Housing Finance Agency and the State of New York Mortgage Agency.
Caitlin Jones • 14 min read
Might 2010 be “Dow 12,000″ for the tax credit market, a year in which every (good) tax credit project is able to land the equity and the debt needed to move forward?
Caitlin Jones • 6 min read
“It was the best of times, it was the worst of times.” That opening line from Charles Dickens’ Tale of Two Cities pretty much sums up the present for multifamily housing developer Paul Sween, a managing partner of Dominium Development and Acquisition.
Caitlin Jones • 5 min read
REITS do it. U.K. housing associations do it. Even educated non-profits do it. Want to do it. Want to go enterprise finance?
Caitlin Jones • 6 min read
“Where are cap rates headed? That question echoes off the walls at just about every real estate industry cocktail hour. These days, however, I’m hearing a different question reverberate amidst the clinking glasses: “What lies ahead for construction pricing?”
Caitlin Jones • 4 min read
Santa Barbara, Calif., sitting on a hill beside the Pacific 90 minutes north of Los Angeles, may be the home of many rich and famous. But the city still faces an acute shortage of affordable housing for working class and special needs residents.