Caitlin Jones • 8 min read
Tax Credit Advisor, January 2010: Supporters of the federal low-income housing, new markets, and historic rehabilitation tax credits relished partial victory in December as the U.S. House of Representatives approved an “extenders” bill (H.R. 4213) containing favorable provisions. But as Congress moved toward adjournment, it appeared virtually certain that final action by Congress on these provisions and on possible additional improvements will not occur until early 2010.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2010: Donna Gambrell, Director of the Community Development Financial Institutions (CDFI) Fund, outlined the tentative timetable for the 2010 funding round for the federal new markets tax credit (NMTC) program, in a speech on December 10.
Caitlin Jones • 5 min read
Tax Credit Advisor, January 2010: It’s no surprise that green building and sustainability have become a key part of the affordable housing industry. Most if not all state housing agencies provide incentives or requirements in their low-income housing tax credit (LIHTC) programs for proposed projects with these features. In addition, the recession and higher energy costs have fostered even greater importance on leaner utility costs in multifamily rental developments.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2010: In a recently released private letter ruling, the Internal Revenue Service has held that a taxpayer’s late filing of a Part I application with the National Park Service will be considered timely, even though the taxpayer didn’t file the application before placing in service its historic rehabilitation tax credit development.
Caitlin Jones • 3 min read
Tax Credit Advisor, December 2009: In a recent decision of potential industry significance, the U.S. Tax Court has ruled against the Internal Revenue Service and upheld federal tax deductions for charitable donations of preservation easements on two historic residential properties in Washington, D.C. (T.C. Memo 2009-208)
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2010: The U.S. Department of Housing and Urban Development has issued a new report, entitled, Revitalizing Foreclosed Properties With Land Banks. The report describes the concept and current trends in land banking, under which local governments create public entities called land banks that acquire, hold, and manage foreclosed properties, including to restore to productive use as affordable housing.
Caitlin Jones • 4 min read
Tax Credit Advisor, January 2010: What changes would investors and syndicators like to see to improve market studies for proposed low-income housing tax credit (LIHTC) projects?
At the recent 2010 Annual Meeting in Chicago of the National Council of Affordable Housing Market Analysts (NCAHMA), several equity providers and a prominent representative of corporate investors gave answers.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2010: HUD is seeking comments by 1/31/10 on a proposal to streamline the transaction approval process under its public housing mortgage program.
Caitlin Jones • 7 min read
Tax Credit Advisor, January 2010: Park Lane at Sea View has a rich history.
Since the mid-1800s, the Staten Island, N.Y. site at various times has been used as a municipal poorhouse, sanitarium for tuberculosis patients, and even a pioneer museum.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2010:
Sources * |
|
| Historic Tax Credit Equity | $9,321,423 |
| Low-Income Housing Tax Credit Equity | $5,269,000 |