Caitlin Jones • 5 min read
Tax Credit Advisor, December 2009: The U.S. Treasury Department’s disapproval of Fannie Mae’s proposed sale of a chunk of its existing low-income housing tax credit (LIHTC) investments prolongs concerns about the “elephant in the room” – namely what is going to happen to the large volume of housing credit investments held by Fannie Mae and Freddie Mac, and how might any sale or sales impact the LIHTC equity market. Those questions appear likely to remain unanswered for a period of time.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2009: The Government Accountability Office (GAO) is conducting a study of how state housing credit agencies (HCA)s are administering the new federal Tax Credit Assistance Program (TCAP) and Section 1602 credit exchange program.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2009: The U.S. Department of Housing and Urban Development (HUD) recently presented the 2009 HUD Secretary’s Award for Excellence in Historic Preservation to Gorman & Company, Inc., for its Fairbanks Flats Rowhomes historic preservation development in Beloit, Wisc.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2009: HUD Secretary Shaun Donovan and U.S. Treasury Secretary Timothy Geithner recently called on Congress to approve three important measures to improve housing and the housing market for Americans.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2009: The U.S. Department of Housing and Urban Development (HUD) has issued a new mortgagee letter (2009-40) providing policies and procedures for standard approvals of FHA multifamily mortgage insurance applications for tax credit projects using a master lease structure.
Caitlin Jones • 9 min read
Tax Credit Advisor, December 2009:
Excerpts from an Interview with Kevin J. McCormack, President, McCormack Baron Salazar
McCormack Baron Salazar, based in St. Louis, Mo., is a pioneer, major for-profit developer specializing in the creation of economically integrated urban neighborhoods.
Caitlin Jones • 6 min read
One by one, a growing number of developers are getting their new low-income housing tax credit (LIHTC) deals funded and closed. Often it’s a convoluted, lengthy, and less than pretty process, but sponsors are finding success nonetheless.
Caitlin Jones • 3 min read
Tax Credit Advisor, December 2009:
The National Housing & Rehabilitation Association (NH&RA) presented its 2009 Affordable Housing Vision Award to Lisa Alberghini and David Smith at a November 2 ceremony held as part of NH&RA’s Fall Developer’s conference in Boston.
Caitlin Jones • 2 min read
Tax Credit Advisor, December 2009: The National Trust Loan Fund has announced the award of $663,000 in grants to nine rehabilitation projects to help transform older and historic communities nationwide, from the Transformative Grant program of the National Trust for Historic Preservation (NTHP).
Caitlin Jones • 3 min read
Tax Credit Advisor, December 2009: The Community Development Financial Institutions (CDFI) Fund recently announced the award of $5.0 billion in federal new markets tax credit (NMTC) allocations to 99 Community Development Entities in the program’s seventh funding round.
Each allocatee must sign an agreement with the CDFI Fund before it can receive and start using its funds.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2009: The North Carolina Housing Finance Agency recently presented its Housing North Carolina Awards to five housing developments.
Caitlin Jones • 2 min read
Tax Credit Advisor, December 2009: The Affordable Housing Investors Council recently elected new officers for 2010. They are: Sindy Spivak, Bank of America, President; Leila Ahmadifar, Citi Community Capital, Vice President; Don Phelan, Babson Capital, Treasurer; and Rob Golden, Capital One, Secretary.