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.
Caitlin Jones • 1 min read
Tax Credit Advisor, August 2009:
The Kentucky Housing Corporation has issued a Request for Qualifications to solicit responses by 8/14/09 from qualified market analysts and/or market analysis firms with experience in income-restricted multifamily properties to provide professional market analysis services to KHC.
Caitlin Jones • 1 min read
Tax Credit Advisor, September 2009: The federal Advisory Council on Historic Preservation (ACHP) has provided guidance on how the General Services Administration (GSA) can meet its Section 106 responsibilities regarding certain planned improvements to historic public buildings managed by GSA.
Caitlin Jones • 2 min read
Tax Credit Advisor, September 2009:
The U.S. Department of Housing and Urban Development (HUD) has published proposed Fair Market Rents (FMRs) for Fiscal Year 2010, with public comments due by 9/2/09. FMRs are used to determine: payment standard amounts for HUD’s Housing Choice Voucher program; initial renewal rents for some expiring project-based Section 8 contracts; and initial rents for Housing Assistance Payment contracts under HUD’s Moderate Rehabilitation Single-Room Occupancy program.
Caitlin Jones • 1 min read
Tax Credit Advisor, September 2009: The Community Development Financial Institutions (CDFI) Fund is soliciting comments by 10/2/09 on the current application form used by community development entities to apply for allocations of new markets tax credit (NMTC) authority. A Federal Register notice indicates that the request is in preparation for an FY 2010 allocation round for the program.
Caitlin Jones • 3 min read
Tax Credit Advisor, September 2009: Out on the campaign trail early in 2007, before receiving the Democratic presidential nomination, Barack Obama held out a program in upper Manhattan, the Harlem Children’s Zone (HCZ), as a model for improving struggling neighborhoods in America’s cities. As a one-time community organizer on Chicago’s South Side, the Harlem program was an eye-opener for the candidate, a brand new, comprehensive initiative that didn’t so much try to tackle a problem as tackle a neighborhood.
Caitlin Jones • 5 min read
Tax Credit Advisor, September 2009:
By Thom Amdur, National Housing & Rehabilitation Association
Congress this fall may authorize and fund a proposed new federal program designed to tie together the production and preservation of affordable housing with community and economic development, education, and other aspects of everyday life. The Choice Neighborhoods Initiative (CNI), proposed by the Obama Administration in its Fiscal Year 2010 budget request for the U.S. Department of Housing and Urban Development (HUD), would replace and build upon HUD’s HOPE VI public housing revitalization program.
Caitlin Jones • 3 min read
Tax Credit Advisor, September 2009: Energy and climate change legislation working its way through Congress holds the promise of massive additional federal dollars to promote green building and to help finance energy efficiency retrofits to existing buildings.
Caitlin Jones • 7 min read
Tax Credit Advisor, September 2009: Having an effective compliance system for your properties is vital for success in the low-income housing tax credit (LIHTC) program. Mistakes, even if inadvertent, can risk the loss of housing credits for investors.
Caitlin Jones • 7 min read
Tax Credit Advisor, September 2009: When Congress reconvenes after Labor Day, advocates will be pressing lawmakers to enact pending and new legislative proposals to bolster affordable housing, historic preservation, and community development.
Caitlin Jones • 1 min read
Tax Credit Advisor, September 2009: The U.S. Treasury Department has begun accepting applications for cash grants in lieu of investment tax credits for qualifying renewable energy equipment and facilities, such as solar photovoltaic systems. This option was made available by the American Recovery and Reinvestment Act of 2009. In general, projects must begin or complete construction in 2009 or 2010. Treasury has established a Web page that contains the requirements for this option, a link to an online application, and other documentation.
Caitlin Jones • 2 min read
Tax Credit Advisor, September 2009: The U.S. Department of Housing and Urban Development (HUD) has issued a new notice (H 09-09) and mortgagee letter (2009-24) providing further guidance to implement 2008 legislative changes designed to make it easier to use HUD-insured mortgages for low-income housing tax credit (LIHTC) projects, including those financed by tax-exempt bonds.