A. J. Johnson • 6 min read
The successful operation and performance of a low-income housing tax credit (LIHTC) project requires choosing the right property management company.
Skilled and vigilant management should keep a property at a healthy occupancy level, assure that it performs well physically and financially, and put investors in a good position to receive the full amount of projected tax benefits.
Matthew Holden • 7 min read
Your affordable multifamily housing acquisition/ rehab project begins with a vision of an efficient and comfortable building at completion. But after lease-up will you actually achieve the expected high performance in energy and water efficiency designed into the project, and therefore peak financial performance?
Glenn Petherick • 4 min read
General contractors and consultants offer some simple suggestions to developers and owners thinking of retrofitting their existing affordable multifamily rental housing properties to increase energy and water efficiency and thereby reduce utility bills.
Glenn Petherick • 7 min read
America has a sparkling new mecca for jazz performance and education: the SFJAZZ Center in San Francisco. Sponsored by local nonprofit SFJAZZ and funded largely by federal new markets tax credits, the new $64 million building has quickly become a major attraction for jazz musicians, aficionados, and tourists since the ribbon-cutting on Martin Luther King’s Day.
Thomas Amdur • 3 min read
National Housing & Rehabilitation Association members have a reputation as the most innovative minds in affordable housing, historic preservation, and community development finance. I am constantly impressed by the creative strategies and structures that they use to combine and leverage a myriad of federal, state, and local grant, loan, and tax credit programs to finance their projects.
Glenn Petherick • 5 min read
For years, affordable housing has been at a premium in the City of Fairfax, Va., a high-cost bedroom community of Washington, D.C. Northern Virginia has long seen numerous affordable apartments converted to market-rate apartments or condominiums.
Glenn Petherick • 7 min read
A January 9 ruling by the U.S. Court of Appeals for the Federal Circuit has some tax credit industry participants worried about the use of put options in transactions utilizing federal historic rehabilitation and new markets tax credits. The ruling held that a tax shelter transaction did not have substance due to the “reasonable likelihood” […]
Glenn Petherick • 10 min read
At Castle Square Apartments, a 40-year-old HUD-assisted apartment complex in Boston, WinnDevelopment, in partnership with the tenants association, completed a “deep energy retrofit” that has slashed energy and water usage and drastically cut operating costs and utility bills paid by the owner and tenants. (A deep retrofit is an upgrade reducing prior energy usage by more than 50%.)
Barbara Thompson • 5 min read
As the Housing Credit community rightly celebrates its hard-fought victory for the extension of the fixed 9 percent Housing Credit rate in the American Taxpayer Relief Act and moves into 2013 with a comprehensive strategy for protecting the program in tax reform, we must not lose focus on another important resource that accounts for approximately 40 percent of all annual Housing Credit rental home production.
David A. Smith • 4 min read
Throughout my career, my affordable housing colleagues and I have avoided all mention of the Mortgage Interest Deduction (MID). Whatever we might have thought about it privately, in public our lips were sealed.
Thomas Amdur • 3 min read
The passage of the American Taxpayer Relief Act (ATRA) in the final days of the 112th Congress was an important victory for affordable housing and new markets tax credit developers, professionals, and advocates around the country.
Glenn Petherick • 7 min read
Low-cost capital raised from foreign investors under the federal “EB-5” program can help finance new markets tax credit (NMTC) projects, as illustrated by three real estate projects in Texas and Wisconsin.