Caitlin Jones • 2 min read
Tax Credit Advisor, November 2009:
The U.S. Department of Housing and Urban Development (HUD) has published final Fair Market Rents (FMRs) for Fiscal Year 2010, effective as of 10/1/09.
Caitlin Jones • 4 min read
Tax Credit Advisor, November 2009: Looking to boost the cash flow in your healthy or underperforming low-income housing tax credit project?
Expert A. J. Johnson says there’s multiple ways to do this – some may even be new to you.
Caitlin Jones • 1 min read
Tax Credit Advisor, November 2009: New bills (H.R. 3715, S. 1743) introduced in Congress would enhance the federal historic rehabilitation tax credit program. Introduced in the House by Rep. Allyson Schwartz (D-Pa.) and in the Senate by Sen. Blanche Lincoln, (D-Ark.), the legislation reflects proposed tax law changes developed by historic tax credit industry stakeholders through the Historic Tax Credit Coalition.
Caitlin Jones • 9 min read
Tax Credit Advisor, November 2009: Two of the earliest closed transactions using federal stimulus act dollars illustrate how these subsidies are rescuing stalled new low-income housing tax credit (LIHTC) projects, and the tortuous paths taken by their developers to piece together all their financing.
Caitlin Jones • 6 min read
Tax Credit Advisor, August 2009: Upstate New York developer Nelson Leenhouts is raising equity from private individuals. Susan Jenning’s firm is targeting smaller regional banks. And consultant Nick Ratti is encouraging developer clients to explore cheap dollars from the Federal Home Loan Bank System.
Caitlin Jones • 1 min read
Tax Credit Advisor, July 2009:
Continued: Innovative Developents Honored With Tax Credit Excellence Awards
Metropolitan/Urban Housing
The Shelton
Arlington, VA
Teutonia Gardens
Milwaukee, WI
Caitlin Jones • 8 min read
Tax Credit Advisor, August 2009: For housing authorities, municipalities, and other governmental entities that self-develop and desire to provide government-owned affordable housing, including workforce housing, Build America Bonds (Direct Payment BABs) provide a new financing vehicle to do this. Authorized by the American Recovery and Reinvestment Act of 2009 (ARRA), Direct Payment BABs can provide significant cost savings over previous options to finance rental housing that addresses specific local housing needs. These needs might include workforce housing, mixed-income housing, and housing targeted toward first responders, teachers, firefighters, police officers, and hospital workers.
Caitlin Jones • 4 min read
Tax Credit Advisor, August 2009: Homeless families in Long Beach, Calif., are getting a new lease on life, thanks to a $32 million affordable housing development opened by Century Housing Corporation in December.
Caitlin Jones • 2 min read
Tax Credit Advisor, August 2009:
Congress in recent weeks has been busy on several fronts in the area of affordable housing. Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, released a draft of a major housing preservation bill that was discussed at hearings by the full committee and its housing subcommittee. During July, the full committee also marked up a bill (H.R. 3045) to reform the federal Section 8 voucher program. Separately, Frank introduced a bill (H.R. 3068) that would direct dividends paid by firms assisted under the Troubled Asset Relief Program for use for certain housing purposes. The bill would direct $1 billion to the National Housing Trust Fund and $1.5 billion to the Neighborhood Stabilization Program.
Caitlin Jones • 5 min read
Tax Credit Advisor, August 2009: Thinking of installing a renewable energy system in an historic building?
The concept may sound impossible, even ludicrous, particularly for a renovation project seeking to qualify for the federal historic rehabilitation tax credit.
But these kinds of rehabilitation projects are possible, with the right building and approach, according to experts.
Caitlin Jones • 6 min read
Tax Credit Advisor, August 2009: On June 23, 1986, Senator George J. Mitchell addressed his colleagues from the floor of the U.S. Senate. Much was at stake that day. Congress was in the midst of debating the Tax Reform Act of 1986, which would become the most sweeping reform of the Internal Revenue Code in a generation. Senator Mitchell spoke eloquently about a new program – the low-income housing tax credit – intended to use federal tax credits to attract private capital to invest in much needed affordable rental housing. Senators from both sides of the aisle rose in support of this new program. That year, the low-income housing tax credit (LIHTC) program was signed into law under a Republican President, Republican Senate, and Democratic House of Representatives.
Caitlin Jones • 3 min read
Tax Credit Advisor, August 2009: