Caitlin Jones & A. J. Johnson • 7 min read
Individuals responsible for overseeing LIHTC compliance (e.g. owners, managers, asset managers, housing finance agency staff) need to be aware of the correct interpretations of LIHTC program requirements to avoid noncompliance. This article covers areas of common confusion and mistakes, and recommends how to best implement procedures to assure compliant documentation.
Caitlin Jones & A. J. Johnson • 4 min read
Compliance is the heart and soul of the federal low-income housing tax credit (LIHTC) program. But then you must run the property in strict compliance with the program’s many rules. Otherwise, your investors risk the possible loss of tax credits. So what are some of the most common compliance mistakes made? And what are the elements for an effective compliance system and strategy for a property?
Caitlin Jones & A. J. Johnson • 5 min read
In addition to amendments pertaining to low-income housing and historic tax credits and tax-exempt housing bonds, the newly enacted housing law contains a number of other provisions affecting affordable housing.
Caitlin Jones & A. J. Johnson • 4 min read
The new Housing and Economic Recovery Act revises federal tax law to provide extra tax-exempt housing bond authority to states, increase the attractiveness of housing bonds to investors, and make other changes that collectively should boost the volume of bond-financed apartments.
Caitlin Jones & A. J. Johnson • 5 min read
Chicago is a vibrant market for affordable housing, with limited supply and high demand. A slowing economy is likely to increase demand for Chicago’s affordable rental housing inventory, but lenders and city officials are generally optimistic that supply will keep up with demand.
Caitlin Jones & A. J. Johnson • 8 min read
Program participants have praised the numerous provisions in the new housing act enhancing the federal low-income housing tax credit (LIHTC) and tax-exempt bonds. Now the industry’s eyes are turned toward implementation.
Caitlin Jones & A. J. Johnson • 9 min read
The new Housing and Economic Recovery Act offers a number of opportunities for developers and owners of both new and existing low-income housing tax credit (LIHTC) projects. In recent comments, including to the Tax Credit Advisor, LIHTC practitioners and program participants highlighted some of these.
Caitlin Jones & A. J. Johnson • 7 min read
Ground that once soaked up gasoline and diesel fuel has now been transformed into affordable housing for 100 families in the Bronx, NY neighborhood of Morris Park, thanks to federal low-income housing tax credits, state tax abatements, and a brownfield tax incentive.
Caitlin Jones & A. J. Johnson • 8 min read
The Internal Revenue Service has issued final regulations amending the requirements for determining utility allowances under the low-income housing tax credit (LIHTC) program. Published 7/29/08 in the Federal Register for immediate effect, the final rule modifies parts of the proposed rule issued 6/19/07, adding a new option for calculating utility allowances, mandating use of timely data, and clarifying certain requirements.
Caitlin Jones & A. J. Johnson • 16 min read
President Bush on 7/30/08 signed into law a massive housing stimulus/rescue bill (H.R. 3221) that makes sweeping changes to the low-income housing tax credit (LIHTC) program.
Caitlin Jones & A. J. Johnson • 16 min read
President Bush on 7/30/08 signed into law a massive housing stimulus/rescue bill (H.R. 3221) that makes sweeping changes to the low-income housing tax credit (LIHTC) program.
Caitlin Jones & A. J. Johnson • 6 min read
Syndicators have bumped up projected yields on the new national multi-investor low-income housing tax credit funds they are offering, which appear to be in greater numbers than a few months ago.