David Leon, Jay Shuman & Jeff Perry • 10 min read
When the CTA went into effect on Jan. 1, 2024, both newly formed and previously established companies, large and small (but mainly small) were to provide certain information to FinCEN detailing: 1) “Beneficial Ownership” and 2) “Company Applicants.”
Alex Zeltser, Esq. • 6 min read
For an affordable multifamily housing project to qualify for the maximum allowable amount of four percent LIHTCs, at least 50 percent of the project’s aggregate basis (consisting of eligible basis plus land) must be financed with the proceeds of tax-exempt bonds issued pursuant to an allocation of private activity bond volume cap by a state housing authority or another municipal issuer (the 50 percent test).
Bennett Applegate • 8 min read
As several of the early Faircloth-to-RAD projects are completing their conversion to the Rental Assistance Demonstration (RAD) program, practitioners are also starting to better understand the legal “nuts and bolts” of how to close a transaction and ensure a smooth transition from Faircloth-to-RAD.
Jeffrey Promnitz • 7 min read
The last scalable change to the Department of Housing and Urban Development’s program compliance was around the time of America’s bicentennial. It’s certainly a different world today. And you’re not alone in wanting to understand its impact.
David A. Davenport • 7 min read
The Supreme Court recently heard arguments in City of Grants Pass, Oregon v. Johnson, in a rare instance of the Court grappling with the issue of homelessness.
Steve Berg • 4 min read
The Supreme Court recently heard arguments in City of Grants Pass, Oregon v. Johnson, in a rare instance of the Court grappling with the issue of homelessness.
Alex Zeltser, Esq. & Robert Kaplan, Esq. • 7 min read
Due to the COVID-19 pandemic and resulting impacts on the economy and financial markets, as well as the Federal Reserve’s raising of short-term rates to stave off inflation, interest rates and construction costs have risen dramatically, resulting in funding gaps that many multifamily affordable housing developers in the four percent LIHTC space have had difficulty filling.
Ken Lore, Charlie Metzger & Glenn S. Miller • 6 min read
Against a backdrop of rising rents nationwide and a lack of housing supply in major cities, suburbs, and rural areas, leaders in Washington, DC are devoting significant time and attention to addressing the affordable housing crisis. President Biden, in his March 7th State of the Union address, called for Congress to enact his plan to “build and renovate two million affordable homes and bring…rents down.”
David M. Abromowitz • 6 min read
If 20 years ago you had told a young Henry Santana that someday he would run for Boston City Council, the recent immigrant from the Dominican Republic growing up in public housing would have thought you were playing a joke on him.
Hollie Croft, Nick Heckman & David Leon • 5 min read
Federal Affordable/Workforce Housing Legislation Déjà Vue
Nate Cushman • 5 min read
In May 2023, the Department of Housing and Urban Development (HUD) published guidelines related to its Green and Resilient Retrofit Program (GRRP).
Althea Broughton • 6 min read
In affordable housing and community development, nothing seems to captivate planners, developers, community advocates and government officials more than a proposed mixed-use development.