Caitlin Jones • 5 min read
Tax Credit Advisor, August 2009: “Diversity has helped us in this last real estate boom-to-bust,” says developer Chickie Grayson, president and CEO of Baltimore, Md.-based Enterprise Homes, Inc., referring to the organization’s shift in development strategy.
Caitlin Jones • 1 min read
Tax Credit Advisor, August 2009: The U.S. Department of Housing and Urban Development on 6/23/09 released new changes (Change 3) to HUD Handbook 4350.3 (Occupancy Requirements of Subsidized Multifamily Housing Programs). They are effective 8/1/09. Some of the changes impact HUD projects only; others both HUD and low-income housing tax credit projects.
Caitlin Jones • 3 min read
Tax Credit Advisor, August 2009: Problems in the multifamily rental housing sector, including weakening demand, are likely to worsen at least for the short term, suggests the new annual housing report from the Joint Center for Housing Studies of Harvard University.
Caitlin Jones • 5 min read
Tax Credit Advisor, August 2009: Hope House, a nonprofit residential treatment center for male alcoholics and substance abusers in Boston’s South End, is a renewable facility in several ways.
Caitlin Jones • 7 min read
Tax Credit Advisor, August 2009: Newly implemented changes made by this year’s economic stimulus act promise new opportunities and shifts in the use of federal renewable energy tax credits. This applies both for real estate projects where the energy credits are used alone, and where paired with federal low-income housing, historic preservation, or new markets tax credits. (See p. 11 for chart on federal energy tax credits.)
Caitlin Jones • 2 min read
Tax Credit Advisor, August 2009: More than 20 organizations supportive of the low-income housing tax credit (LIHTC) are seeking to reach consensus on a limited final package of proposed legislative changes to the program designed to boost equity investment.
Caitlin Jones • 3 min read
Tax Credit Advisor, August 2009: JEN Partners, a New York-based private equity real estate firm, has entered into an agreement to acquire virtually all of the low-income housing tax credit (LIHTC) equity business of MMA Financial, a subsidiary of Municipal Mortgage & Equity, LLC (MuniMae).
Caitlin Jones • 5 min read
Tax Credit Advisor, August 2009: Two earth-friendly energy projects in the Pacific Northwest that are combining federal new markets and renewable energy tax credits will do good for their communities by doing well financially.
Caitlin Jones • 6 min read
Tax Credit Advisor, August 2009: Larger government recipients plan to use much of their first-round Neighborhood Stabilization Program (NSP) grant dollars for rental housing, according to a recent report by Enterprise Community Partners, Inc., a national nonprofit.
Caitlin Jones • 1 min read
Tax Credit Advisor, August 2009: The Ohio Department of Development has begun accepting applications for $17.5 million in state historic tax credits in a new funding round under its Ohio Historic Preservation Tax Credit program. This round reflects features new user-friendly amendments to the program.
Caitlin Jones • 1 min read
Tax Credit Advisor, August 2009: Several more top officials have been sworn in or confirmed at the U.S. Department of Housing and Urban Development. David Sterns was sworn in on July 15 as Assistant Secretary for Housing and Federal Housing Administration (FHA) Commissioner.
Caitlin Jones • 7 min read
Tax Credit Advisor, August 2009: Many state housing finance agencies in their low-income housing tax credit (LIHTC) programs favor preservation projects, usually by giving preference or extra competitive points to projects involving the acquisition and rehabilitation of existing properties. Preservation of affordable housing is also an emerging priority in this Congress.