Articles Archives

Tax Credit Advisor, July 2009: Public housing agencies (PHAs) are exerting an expanding force in housing and community development and in improving the lives of low-income persons, in routine and creative new things both alone and in partnership with private developers.

Tax Credit Advisor, July 2009: The Community Development Financial Institutions (CDFI) Fund has announced $1.5 billion in additional new markets tax credit (NMTC) allocation awards to 32 organizations nationwide.

Tax Credit Advisor, July 2009: The National Council of Affordable Housing Market Analysts (NCAHMA), a working group of real estate market analysts who focus part of their practice on affordable housing properties, has taken several recent strides to expand its visibility among multifamily real estate professionals.

Tax Credit Advisor, July 2009: After a solid eight-year history, the federal new markets tax credit (NMTC) program faces a variety of critical issues – on the legislative, regulatory, and market fronts.

Tax Credit Advisor, July 2009: During 2005 through 2008, minority-owned community development entities (CDEs) had less success than non-minority CDEs in winning awards of new markets tax credit (NMTC) allocations, according to a new report (GAO-09-536) by the Government Accountability Office.

Tax Credit Advisor, July 2009: Low-income housing tax credit (LIHTC) program participants cited some glimmers of light but predicted continued tough times for the industry at least through year-end, at a recent conference in Los Angeles.

Tax Credit Advisor, July 2009: From measuring energy usage and revealing ways to cut costs, to providing entry to a myriad of possible governmental and private incentives, the energy audit is becoming an increasingly important tool for owners, developers, and managers of affordable multifamily rental housing properties.

Tax Credit Advisor, July 2009: The Affordable Housing Tax Credit Coalition has recognized 13 outstanding and innovative low-income housing tax credit developments across the nation in the 15th Annual Charles L. Edson Tax Credit Excellence Awards competition.

Tax Credit Advisor, July 2009: Despite the economic recession and shortage of low-income housing tax credit (LIHTC) equity, some developers have found ways to overcome setbacks to keep their housing credit projects on track.

Tax Credit Advisor, July 2009:

Federal Officials Announce Inter-Agency Partnership

Leaders of the U.S. Department of Housing and Urban Development (HUD), U.S. Department of Transportation, and Environmental Protection Agency have announced the formation of a new Partnership for Sustainable Communities. The new partnership is designed to coordinate and leverage policies, resources, and actions of the three agencies to improve access by Americans to affordable housing and better, less costly transportation options, and to improve energy efficiency in communities nationwide. In the area of housing, the objective is to develop strategies to “expand location- and energy-efficient housing choices for people of all ages, incomes, races and ethnicities to increase mobility and lower the combined cost of housing and transportation.”

Tax Credit Advisor, July 2009: Preservation of Affordable Housing (POAH), a Boston, MA-based affordable housing developer and owner, used energy audits performed by Bright Power, Inc. to obtain funds for energy improvements to three of its existing developments in the Boston area.

Tax Credit Advisor, July 2009: State allocating agencies, faced with a hefty pipeline of stalled low-income housing tax credit (LIHTC) projects, are moving toward accepting applications and awarding financial assistance to these deals to move them forward under the new “TCAP” and “credit exchange” programs. Some agencies have begun accepting applications and at least one has made a few awards, according to responses to a survey by the Tax Credit Advisor.