Tax Credit Advisor Article Archives

Young singles have plenty of personal, economic, and social mobility; they have minimal cash assets (and possibly maximal student-loan liabilities); they want to live somewhere close to work and pay as little cash for it as they can. Their needs beautifully complement what the elderly homeowners have, and what they have is what the elderly need.

This December, work finished on a renovation that’s likely to cut the total energy used at a home for very low-income seniors by more than a third.

A young mother working full-time takes classes leading to a degree in emergency response management. With this degree will come a new career and improved life for her family. Before leaving the building, she buys fresh produce and groceries, and at the bus stop on the public plaza near the main entrance, chats with neighbors.

The housing industry is well acquainted with the impact of the Baby Boomer generation reaching the age of retirement, the impending need for affordable housing to support this population, and eligibility for Medicaid and Medicare. However, the marriage of assisted living with Low-Income Housing Tax Credit (LIHTC) senior properties is relatively new and is a significant opportunity for those who can reconcile the two programs.

The National Council on Aging reports that 10,000 people will enroll in Medicare EVERY day over the next ten years. America is aging – and I’m guessing this is not a surprise to our readers – everyone in the affordable housing business has probably seen dozens of articles and presentations about the current and future housing, healthcare and personal finance needs of the baby boomers.

As the Greatest Generation moves through their 80s and 90s, and as millions of Baby Boomers turn 65 each year, suitable, affordable housing options for older Americans become more pressing. But as a recent Joint Center for Housing Studies report demonstrates in statistical depth, those options are far from existing in sufficient numbers and variations.

Culturally, Mexico begins just south of Tucson, where the Interstate signs are in Spanish and the distances are in kilometers.

December is typically a hectic time for our members as they race to meet year-end deadlines and finalize budgeting and plans for 2015.

Given the increased difficulty of obtaining all the dollars needed to develop real estate projects generally, and affordable rental housing in particular, developers are looking for alternative funding sources to bridge the gap between the available financing and total project development costs.

The National Housing Trust/Enterprise Preservation Corp. (NHT/Enterprise), a nonprofit developer/ owner and policy organization based in Washington, D.C., has created and test driven a new model for funding the installation of solar energy systems across a portfolio of existing affordable multifamily rental housing properties, to reduce operating costs and benefit the low-income residents.

When you come right down to it, the federal new markets tax credit fuels projects, programs, and services that provide for America’s basic needs and cultural aspirations – jobs, education, health care, real estate development, museums, and more.

State allocating agencies are well along, for the most part, in finalizing qualified allocation plans for their 2015 low-income housing tax credit programs.