Glenn Petherick • 3 min read
With the talk and action about tax reform legislation heating up in Washington, it’s an opportune time to highlight the benefits of our current federal tax credit programs that produce and preserve affordable rental housing, foster the rehabilitation of historic building, and promote economic development, including in our nation’s low-income communities.
Glenn Petherick • 5 min read
The new allocatees are based in 28 states and the District of Columbia and expect to make investments in all 50 states, the District of Columbia, and Puerto Rico.
Thomas Amdur • 3 min read
This past month has taken me to Lansing, Los Angeles, Louisville, and Nashville and provided me the opportunity to meet with developers to try to put my finger on the pulse of our industry. Along the way, I’ve noticed a few trends and opportunities are apparent:
Glenn Petherick • 7 min read
According to CohnReznick, approximately $10 billion in total LIHTC equity was raised in 2012. Of this amount, the banking sector accounted for approximately 85%. Moreover, of the bank-supplied equity investment, CohnReznick estimates that 60% came from the top five U.S. commercial banks alone.
Glenn Petherick • 6 min read
Once their new affordable apartment complex is completed, the seniors living at The Greens at Logan Field in Dundalk, Md. won’t have to travel far to shop.
Glenn Petherick • 3 min read
The Internal Revenue Service and U.S. Treasury Department have begun work on developing guidance expected to outline the conditions under which a limited partner investor in an historic rehabilitation tax credit transaction will be respected as a partner for federal tax law purposes.
Glenn Petherick • 5 min read
Competition is the lifeblood of existence, for only through competition does natural selection harness the self-interest of autonomous beings into evolutionary advance. Though the same principle is the fuel that powers the success of entrepreneurial capitalism, it was a long time coming to affordable housing, arriving serendipitously in the Low-Income Housing Tax Credit (LIHTC) program, which mandates a trifecta of ring-fenced individual-state autonomous allocations, annual award cycles, and Qualification Allocation Plans (QAPs) as modifiable DNA.
Thomas Amdur • 3 min read
To paraphrase Mick Nelson, a policy analyst at the Tennessee Housing Development Agency and recent panelists at NH&RA’s 2013 Multifamily Housing Exchange, the housing market doesn’t work like an NFL draft – the households with the least resources and greatest challenges don’t get to choose their unit first. Whether it’s the senior living on a fixed-income, the wounded veteran transitioning back to civilian life, or the working class family living in a blighted neighborhood, the marketplace provides few options for the families and individuals served by our federal affordable housing programs.
Glenn Petherick • 4 min read
The Obama Administration’s budget request for the U.S. Department of Housing and Urban Development (HUD) for Fiscal Year 2014, which begins October 1, reflects a mix of winners and losers and contains a number of proposed program changes. The Administration’s budget also includes positive and negatives for rural housing programs along with some tax credit proposals (see p. 12).
Glenn Petherick • 7 min read
Stakeholders have reacted favorably to recommendations made by the National Park Service for promoting greater awareness, efficiency, and use of the federal historic rehabilitation tax credit program.
Glenn Petherick • 5 min read
The low-income housing tax credit (LIHTC) equity market continues to hum along with rising yields on new multi-investor funds and softening credit prices in some areas. Current national multi-investor LIHTC funds generally have projected after-tax yields to investors ranging from 7.0% to 7.5% – with many clustered around 7.25%.