A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, March 2009: The New Jersey Housing and Mortgage Finance Agency’s board has approved the proposed 2009 qualified allocation plan (QAP) for the agency’s low-income housing tax credit program.
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, March 2009: The Pennsylvania Housing Finance Agency (PHFA) has issued a statement outlining specific adjustments and waivers of certain parameters and limits in its 2009 qualified allocation plan it will consider making in awarding 2009 low-income housing tax credits, to facilitate the viability of projects.
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, March 2009: Ohio Gov. Ted Strickland in his recent “State of the State Address” said as part of his new proposed two-year state budget he will seek passage by Ohio lawmakers of legislation to create a new state new markets tax credit to promote downtown revitalization in urban areas.
A. J. Johnson & Caitlin Jones • 2 min read
Tax Credit Advisor, March 2009: The federal new markets tax credit will be giving numerous domestic violence survivors in New York City a new start in life, through the transformation of a vacant building into a new service-enriched emergency shelter tailored to address their needs.
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, March 2009: In his proposed FY 2010 state budget, Maryland Gov. Martin O’Malley (D) said he plans to submit legislation to revise and enhance the state’s Heritage Tax Credit Program, which provides a state income tax credit equal to 20% of the qualified costs of rehabilitation for historic income-producing properties and owner-occupied homes.
A. J. Johnson & Caitlin Jones • 5 min read
Tax Credit Advisor, March 2009: A Roman Catholic order of nuns in Missouri is partnering in the historic rehabilitation of buildings on its campus into affordable apartments to generate needed housing and income, in an innovative multi-phase deal that could serve as a model for other religious orders.
A. J. Johnson & Caitlin Jones • 4 min read
Tax Credit Advisor March 2009: After years of lobbying by advocates led by the Michigan Historic Preservation Network (MHPN), Michigan has significantly improved its 25% state historic tax credit. The changes made by the legislation signed 1/9/09 (SB 973, HB 6496) include to increase by as much as 400% the amount of the state credit when combined with the 20% federal historic rehabilitation tax credit.
A. J. Johnson & Caitlin Jones • 8 min read
By Elizabeth L. Moreland, NCP-E, SCS, HCCP, SHCM, FHC
Tax Credit Advisor, March 2009: Proper compliance is essential for the success of every low-income housing tax credit property. Increasingly, the individuals whose job is to ensure, review, or oversee tax credit compliance – property managers, corporate supervisors, etc. – have one or more compliance professional designations. What are these different designations? How do they differ? Which are most appropriate for a particular individual? Here, compliance expert/trainer Elizabeth L. Moreland provides a road map and guidance through the alphabet soup of multiple designation programs.
A. J. Johnson & Caitlin Jones • 7 min read
Tax Credit Advisor, March 2009: (Patrick Nash, based in Chicago, is Managing Director of Housing Investments for JPMorgan Capital Corporation, an investor in low-income housing tax credits. He is also president for 2009 of the Affordable Housing Investors Council. In excerpts from an early February interview, Nash spoke about AHIC, his firm’s activities, and the housing credit market.)
A. J. Johnson & Caitlin Jones • 3 min read
Tax Credit Advisor, March 2009: Just about every neighborhood has a corner school. But when the neighborhood is revitalized, is the school improved as well?
A. J. Johnson & Caitlin Jones • 7 min read
Tax Credit Advisor, March 2009: Florida developer Debra Koehler is using her past experience in building affordable apartments and renovating office towers to undertake a housing preservation niche – the rehabilitation and preservation of urban high-rise apartment buildings as affordable housing.
A. J. Johnson & Caitlin Jones • 2 min read
Tax Credit Advisor, March 2009: A New York housing agency has announced the creation of a new equity fund to jumpstart equity investment in low-income housing tax credit (LIHTC) projects in Upstate New York.