Caitlin Jones • 6 min read
Tax Credit Advisor, September 2009: At the National Housing & Rehabilitation Association’s 2009 Summer Institute conference in late July, five state agencies – New York, New Jersey, Massachusetts, Vermont, New Hampshire – sent representatives who described where they are in implementing the new federal Tax Credit Assistance Program (TCAP) and credit exchange program.
Caitlin Jones • 2 min read
Tax Credit Advisor, September 2009: The U.S. Department of Housing and Urban Development (HUD) has expanded the types of costs that can be funded with assistance received under the Tax Credit Assistance Program (TCAP), in an updated TCAP program notice released on 7/27/09.
Caitlin Jones • 3 min read
Tax Credit Advisor, September 2009: The Bush Administration’s social experiment to move America’s single-family housing ownership percentage from the low 60s to high 70s has been a major failure, according to Linwood Thompson, a managing director of the national real estate brokerage firm Marcus & Millichap out of Atlanta, Ga. Looking ahead at the housing market and at the societal factors that will affect it, Thompson sees an overall shift starting towards a preference for multifamily housing.
Caitlin Jones • 8 min read
The federal low-income housing tax credit (LIHTC) program has been one of the most successful affordable housing finance programs in our nation’s history. Since its creation in 1986, the program has financed more than two million units. Even as LIHTC industry participants grapple today with the decline in investor demand and the broader housing market downturn, tax credit properties continue to outperform other real estate asset classes – featuring the lowest foreclosure rate.
Caitlin Jones • 2 min read
The U.S. House of Representatives has approved a bill (H.R 3527) that would authorize the U.S. Department of Housing and Urban Development (HUD) to increase FHA multifamily loan limits for elevator buildings by up to 50% of the limits for non-elevator buildings, and to increase limits for extremely high-cost areas. The bill now moves to the Senate.
Caitlin Jones • 2 min read
The U.S. Census Bureau on September 22 released its latest data from the American Community Survey (ACS), providing a statistical portrait of the characteristics of the nation’s population in 2008.
Caitlin Jones • 1 min read
The U.S. Treasury Department on 9/22/09 reported the second of two rounds of cash assistance awards to energy production companies under Section 1603 of the American Recovery and Investment Act.
Caitlin Jones • 6 min read
Syndicator Joe Hagan, CEO of National Equity Fund Inc. (NEF), believes the hurricane that has rattled the low-income housing tax credit industry is beginning to move offshore.
Caitlin Jones • 4 min read
You’ve completed your green apartment project.
You’ve filled it with tenants.
Now what? How do you assure that the building will actually achieve the designed efficiencies in energy and water usage.
Caitlin Jones • 8 min read
Tax Credit Advisor, October 2009: It’s a time of change for the historic rehabilitation tax credit sector.
The economic downturn is responsible for many of the changes rippling through the industry. Major banks, the predominant investors in historic credits and a key source of conventional debt financing, have in many instances seen their profits and tax shelter needs fall.
Caitlin Jones • 2 min read
In response to adverse market conditions, the U.S. Department of Housing and Urban Development (HUD) is making it possible for developers of stalled, partially built multifamily housing projects to apply for FHA mortgage insurance.
Caitlin Jones • 2 min read
The Missouri Housing Development Commission (MHDC) has retained a team of private practitioners to develop a proposal for changes to the state’s low-income housing tax credit.