Articles Archives

CDFI Fund Opens Seventh Funding Round for New Markets Tax Credit Program

& 3 min read

Tax Credit Advisor, February 2009: The Community Development Financial Institutions (CDFI) Fund on 1/16/09 announced the opening of its seventh, last scheduled funding round for the federal new markets tax credit (NMTC) program, with some significant changes from previous rounds.

Incorporating Green Features in Historic Projects Growing in Popularity

& 7 min read

Tax Credit Advisor, February 2009: Incorporating green and sustainable building features and practices in historic preservation projects is becoming more popular. And there are a variety of steps and approaches that can be taken and still qualify a project for federal tax incentives, such as the historic rehabilitation tax credit, according to industry sources recently interviewed by the Tax Credit Advisor.

Washington, DC Developer Working on Preservation Projects While Managing Challenges

& 3 min read

Tax Credit Advisor, February 2009: Washington, DC developer Gerry Joseph is calling on his more than 30 years’ of experience in the affordable housing and community development industry as he navigates his way through today’s stormy financial and economic challenges.

New Paper Recommends Steps for Enhancing LIHTC Program of Massachusetts, Other States in Tough Current Market

& 4 min read

Tax Credit Advisor, February 2009: A new white paper identifies how the current equity crisis is impacting the low-income housing tax credit program in Massachusetts and other states, and recommends 10 steps for making Massachusetts’ program most effective given the current challenges.

Debt Financing More Challenging to Secure for LIHTC Projects

& 8 min read

Tax Credit Advisor, February 2009: There’s no question it’s tougher today than a year ago to secure debt financing for proposed new low-income housing tax credit (LIHTC) projects. With equity at a shortage and the capital markets still in turmoil, each deal can be a trying experience.

North Carolina Makes Large-Scale Credit Exchange to Aid Challenged Deals

& 3 min read

Tax Credit Advisor, February 2009: The North Carolina Housing Finance Agency (NCHFA) in December made a large-scale exchange with developers of old credit awards for new, to try to help assure that proposed low-income housing tax credit (LIHTC) projects will actually be built.

Houston Area Still Attractive Market for LIHTC Development

& 6 min read

Tax Credit Advisor, February 2009: While most of the nation is mired in recession, unemployment, and foreclosures, Houston’s economy continues to surge forward.

Understanding the LIHTC General Public Use Requirements and Recent Changes

& 6 min read

Tax Credit Advisor, February 2009: The Housing and Economic Recovery Act of 2008 (H.R. 3221), signed into law on July 30, 2008, made one change to the low-income housing tax credit (LIHTC) program that was somewhat surprising and unexpected. This was a “clarification” to the program’s general public use requirements.

IRS Official Discusses LIHTC Compliance Issue, Current Guidance Projects

& 3 min read

Tax Credit Advisor, February 2009: IRS senior program analyst Grace Robertson clarified the applicability of the tax credit tenant income certification rules to existing projects that receive a new allocation of tax credits and are resyndicated, in comments during the recent HFA Institute conference in Washington, DC sponsored by the National Council of State Housing Agencies.

Albuquerque Housing Credit Project Funded in Part from Carbon Offset Dollars

& 6 min read

Tax Credit Advisor, February 2009: Romero Rose LLC had always intended for the new Silver Gardens Apartments in downtown Albuquerque, NM to be a model of environmental responsibility.

LIHTC Industry Participants Discuss Market, Plans, Outlook for 2009

& 7 min read

Tax Credit Advisor, February 2009: Different participants in the low-income housing tax credit (LIHTC) discussed the current state of the industry, the steps they are have taken or are taking, and their expectations and hopes for 2009, in comments at a recent conference in Washington, DC.

LIHTC Help Possible as Congress Writes Economic Stimulus Bill

& 7 min read

Tax Credit Advisor, February 2009: The new, 111th Congress appears likely to approve at least some benefits for the beleaguered low-income housing tax credit industry as part of the economic stimulus bill working its way toward the desk of new President Obama.

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