Articles Archives

RD Issues Guidance Regarding Revitalization Transactions

& 1 min read

Tax Credit Advisor, January 2009: USDA’s Rural Development (RD) has issued an unnumbered letter that outlines the key principles to be followed by RD staff to underwrite multifamily housing revitalization transactions, including transfers of ownership transactions and Multifamily Portfolio Revitalization demonstration program deals.

HUD Offers Grants for Emergency Repairs to Elderly Housing

& 1 min read

Tax Credit Advisor, January 2009: HUD is soliciting applications for roughly $9.5 million in grant funds, to be used to make emergency capital repairs to nonprofit-owned multifamily projects designated for occupancy by elderly tenants. Eligible projects are those assisted under HUD’s Section 8, 202, 221(d)(3), and 236 programs, and Rural Development Section 515 projects receiving Section 8 assistance.

HUD Publishes Notice on HERA Changes

& 1 min read

Tax Credit Advisor, January 2009: The U.S. Department of Housing and Urban Development (HUD) has published a notice regarding the applicability to HUD’s public housing and Section 8 tenant-based and project-based voucher programs of certain provisions of the recent Housing and Economic Recovery Act (HERA).

Next NMTC Funding Round Expected to Open in Mid-January

& 1 min read

Tax Credit Advisor, January 2009: The Community Development Financial Institutions (CDFI) Fund will likely open the next funding round for the federal new markets tax credit (NMTC) program in mid-January 2009, and release application materials then, CDFI Fund Director Donna Gambrill told a Washington, DC conference on 12/2/08. She said applicants will likely have until April 2009 to turn in applications.

St. Louis Firm Utilizes New Markets Tax Credit for Variety of Urban Projects

& 9 min read

Tax Credit Advisor, January 2009: McCormack Baron Salazar, a St. Louis, MO-based developer, specializes in projects that help rebuild distressed neighborhoods within major urban cores. For many years, the company has developed a number of mixed-income, mixed-use communities under the HOPE VI public housing revitalization and mixed-finance programs administered by the U.S. Department of Housing and Urban Development (HUD).

New Report Issue on Bank Investment in Historic Credits

& 1 min read

Tax Credit Advisor, January 2009: The U.S. Office of the Comptroller of the Currency has published a Community Developments Insights report that describes how banks can participate in the federal historic rehabilitation tax credit program.

Census Issues Updated Data on Midsized Areas

& 1 min read

Tax Credit Advisor, January 2009: The U.S. Census Bureau has released the first comprehensive data since 2000 for more than 2,500 mid-sized counties, cities, and towns, providing the first statistical “portrait” of these communities on a wide range of key socioeconomic and housing topics.

Former Brewery Converted to Housing in Partnership with Employer, City

& 5 min read

Tax Credit Advisor, January 2009: An historic former brewery building in La Crosse, WI (pop. 50,000) has been converted into mixed-income apartments in a cooperative venture with the city and a major local employer, a regional medical center.

Study Points to Significant Need Among Veterans for Affordable Housing, Services

& 8 min read

Tax Credit Advisor, January 2006: The word “veteran” tends to conjure up images of an older generation, one that served in wars of yesteryear. But take a look at the statistics, and a very different picture emerges.

Niche Development Opportunities Seen as a Result of Demographics, Trends, Special Needs

& 9 min read

Tax Credit Advisor, January 2009: Just as the low-income housing tax credit (LIHTC) industry this year has recognized the importance of diversifying its investor base, diversification seems to be reasonable for LIHTC developers to consider as well. This can mean exploring and pursuing “niche” development opportunities beyond the plain vanilla LIHTC project. These real estate products may stem from promising demographic or cultural trends or meet another specific local need

Tax Credits Transform Industrial Buildings in Richmond

& 6 min read

Tax Credit Advisor, January 2006: Developed by Fountainhead Real Estate Development, a local real estate company, The Commons at Plant Zero is a gateway into the central business district that presents tenants and businesses the chance to realize new growth in an area that is moving beyond its economically distressed history

Housing Authority Uses Credits, Bonds, Vouchers In Converting Public Housing

& 6 min read

Tax Credit Advisor, January 2009: A local housing authority in Southern California has converted one of its public housing projects to long-term affordable apartments in a preservation transaction that will renovate the property and enable the current residents to stay with enhanced services.

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