Tax Credit Advisor Article Archives

Syndicators are getting positive feedback as they talk to companies to try to get them to start investing in low-income housing tax credits, while nervously trying to keep the after-tax yield on new national multi-investor funds at or above 7%, a tough challenge given persistently strong credit pricing to developers.

The federal new markets tax credit is helping to finance a project in the South Bronx in New York City that will transform an underutilized municipal parking lot into an 88,000 square-foot mixed-use commercial and community facility.

More than 120 enthusiastic energy- and cost- concerned representatives from a variety of affordable housing companies and organizations filled a conference room in a building adjacent to Philadelphia’s 30th Street Station on April 3 for a frank and incisive, daylong look at the true financial benefits that can be reaped from best practices in energy and water efficiency.

Sometimes we forget just how good we have it. Every now and then, we need to stop and smell the roses as the saying goes.

In many ways the low-income housing tax credit market is a bit of an enigma – both transparent and opaque.

Residents get their electricity mostly for free at Arbor Green Apartments, a new 40-unit low-income housing tax credit (LIHTC) development in Los Angeles County.

For California developer/owner Michael Costa, a lengthy pipeline of future affordable housing disposition and preservation transactions is just getting started.

After a green affordable multifamily rental housing project is completed, either through new construction or renovation, will the expected energy and water cost savings actually be achieved?

The Housing Partnership Equity Trust, a private real estate investment trust devoted exclusively to acquiring and preserving affordable and workforce multifamily rental housing properties, is the first affordable housing REIT launched by nonprofits.

Per-unit total operating expenses for low-income housing tax credit (LIHTC) properties in a large national sample increased by an average 5.92% between 2010 and 2012, with the three largest cost categories being for payroll, repairs and maintenance, and utilities, according to a new report released by Novogradac & Company LLP, a national accounting, tax, and consulting firm.

On April 3, the Senate Finance Committee, under the reign of new Chairman Ron Wyden (D-Ore.), marked up and approved a bill that would provide for short-term extensions of about 50 expiring federal tax credits and other tax incentives.

Developers continue preserving affordable rental housing by acquiring and rehabilitating existing multifamily properties in a variety of transactions.