Nathan Petrillo • 7 min read
Three mixed-income housing developments that thoughtfully respond to their surroundings and residents’ needs were winners in an annual design competition organized by the American Institute of Architects (AIA) and the U.S. Department of Housing and Urban Development (HUD). These recipients of the 2008 AIA/HUD Secretary’s Housing and Community Design Awards demonstrate that design excellence and affordable housing can go hand-in-hand.
Caitlin Jones & A. J. Johnson • 8 min read
The worsening credit crisis from late September into October has created new difficulties for the already battered low-income housing tax credit (LIHTC) market.
Caitlin Jones & A. J. Johnson • 3 min read
California Gov. Arnold Schwarzenegger (R) in late September signed into law two bills revising the state’s low-income housing and farmworker housing tax credit programs.
Caitlin Jones & A. J. Johnson • 3 min read
New Internal Revenue Service Revenue Procedure 2008-60 provides guidance on how investors can make an election to retire an existing recapture bond they’ve posted under the low-income housing tax credit (LIHTC) program.
Caitlin Jones & A. J. Johnson • 2 min read
The U.S. Department of Housing and Urban Development (HUD) has begun to implement the new Neighborhood Stabilization Program (NSP), which was established by the Housing and Economic Recovery Act signed on 7/30/08.
Caitlin Jones & A. J. Johnson • 6 min read
Even in small, rural towns like Mount Airy, NC, the shortage of affordable housing for low-income residents is a pressing issue. In Mount Airy, the issue was addressed and solved, according to developer Jim Sari, of The Landmark Group, based in Winston-Salem, NC, through the conversion of a vacant historic former tobacco warehouse into apartments using a combination of state and federal low-income housing tax credits and historic tax credits.
Caitlin Jones & A. J. Johnson • 7 min read
The financial rescue bill signed by President Bush on 10/3/08 contained provisions that extend the federal new markets tax credits and various federal renewable energy tax credits, and provide additional low-income housing tax credits and tax-exempt bond authority for areas hit by major natural disasters.
Caitlin Jones & A. J. Johnson • 5 min read
he Community Development Financial Institutions (CDFI) Fund on 10/20/08 announced the award of $3.5 billion in federal new markets tax credit (NMTC) allocations to 70 community development entities (CDEs) in the program’s sixth funding round.
Caitlin Jones & A. J. Johnson • 1 min read
The IRS is soliciting comments by 12/23/08, and announced a public hearing for 1/22/09, on a new proposed regulation for the federal new markets tax credit program specifying how an entity serving certain targeted populations can meet the requirements to be a qualified active low-income community business.
Caitlin Jones & A. J. Johnson • 1 min read
The U.S. Department of Housing and Urban Development (HUD) published a Federal Register notice on 9/3/08 containing an updated list of geographic areas in the U.S. that qualify as difficult development areas (DDAs) under the low-income housing tax credit program.
Caitlin Jones & A. J. Johnson • 1 min read
New York State Gov. David Patterson recently signed legislation (A.11226/S.7553) that authorizes a new tax abatement for the construction of “green” roofs on buildings in New York City. Under the pilot, which runs until 3/15/13, building owners who install green roofs on at least 50% of available rooftop space can apply for a one-year property tax credit from the city.
Caitlin Jones & A. J. Johnson • 1 min read
The Arizona Department of Housing (ADoH) is soliciting applications by 11/14/08 for new funds available under its State Housing Fund Program.