Articles Archives

Innovative Developments Honored With Tax Credit Excellence Awards

8 min read

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.

New Maine Seniors Project Moves Forward After Overcoming Financial Setback

6 min read

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.

Capital Briefs

2 min read

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.”

Boston Owner Makes Use of Energy Audits

1 min read

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.

State Agencies Move Toward Awarding Funds Under TCAP, Exchange Programs

10 min read

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.

States Agencies Take Steps to Activate TCAP, Exchange Programs

8 min read

Tax Credit Advisor, June 2009: State agencies could make the first awards of stimulus act funds to stalled low-income housing tax credit (LIHTC) projects as soon as this month, according to sources.

IRS Clarifies Qualified Income Under Targeted Population Standard

3 min read

Tax Credit Advisor, May 2009: An IRS private letter ruling (200910024) clarifies the types of income a nonprofit health care provider can count toward qualifying the patients it serves as a low-income “targeted population” under the federal new markets tax credit (NMTC) program.

New Markets Credit Seeds Communities for Educational Prosperity

6 min read

Tax Credit Advisor, May 2009: Like the gardener sowing a plot to yield future bounty, the federal new markets tax credit is seeding low-income communities by helping to fund educational facilities – including charter schools and public schools that prepare low-income neighborhood youths for a more promising future.

States Consider Bills to Create, Expand, Cut Back Historic Credits

4 min read

Tax Credit Advisor, May 2009: Several states are considering bills that would establish, cut back, or expand tax credits for the rehabilitation of historic buildings.

Show Me the Light (and Savings): Boston Developer Ramps Up Use of Solar Energy

4 min read

Tax Credit Advisor, May 2009: WinnDevelopment, a Boston-based developer, owner, and manager of affordable and market-rate apartments, is making a big push into use of renewable solar energy as part of a broader strategy to cut energy and water costs at its properties.

Enterprise Closes First Green Equity Fund

1 min read

Tax Credit Advisor, May 2009: Enterprise Community Investment, Inc. recently announced the closing of its first “green” low-income housing tax credit equity fund. Investors in the fund are U.S. Bancorp Community Development Corporation, Wells Fargo & Company, Merrill Lynch Community Development Corporation, and MetLife Inc.

Cutting Corners in Housing Credit Compliance – A Trap to Avoid

6 min read

Tax Credit Advisor, May 2009: In tough economic times, there’s the temptation to cut back on compliance in low-income housing tax credit (LIHTC) properties. Doing so is a mistake that will lead to financial losses in the long term. Additionally, corner-cutting in compliance can result in potentially catastrophic economic penalties for owners of LIHTC properties.

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