Glenn Petherick • 2 min read
The Internal Revenue Service is soliciting public comments on the draft of a new IRS low-income housing tax credit (LIHTC) audit technique guide.
Glenn Petherick • 7 min read
Historic tax credit industry participants have welcomed and praised the new IRS safe harbor guidance and are optimistic that it will eventually restore a healthy flow of equity investment capital for new projects. But they suggested it will be a number of weeks before the spigot turns on fully because of ambiguous or challenging parts of the guidance that need to be clarified or addressed and until investors, developers, and practitioners come to consensus on acceptable features of partnership structures for new deals.
Glenn Petherick • 3 min read
Back in my freshman year at Syracuse University, I survived one of my toughest learning challenges – calculus class on Tuesday, Thursday, and Saturday mornings at 8. That barely edged out my class in geology, but at least there we got to build model volcanoes that actually erupted.
Glenn Petherick • 6 min read
After another year of heavy mortgage volume, the U.S. Department of Housing and Urban Development (HUD) is about to begin implementing another step in its multifamily “transformation plan” to cut FHA loan processing times even further and boost the agency’s share of financing for low-income housing tax credit (LIHTC) projects.
Thomas Amdur • 3 min read
If you are a frequent reader of this column you know that energy, water, and utility efficiency is one of my pet issues.
David A. Smith • 4 min read
Unlike my peers, I do not age. Yet my contemporaries, seen last month at AHF Live in Chicago, look so old. I asked a long-time colleague if I were imagining things.
Eric Gockel • 6 min read
The federal Community Reinvestment Act (CRA) was enacted in 1977 in the face of furious opposition from the banking industry. One consequence of that opposition was that the text of the proposed statute was severely whittled down in order to gain passage.
Glenn Petherick • 10 min read
Low-income housing tax credit (LIHTC) investments will be more attractive as the result of accounting rule changes adopted December 11 by the Financial Accounting Standards Board, according to LIHTC industry sources. But they differed as to what the future impacts are likely to be on LIHTC investment volume, housing credit pricing, and yields.
Glenn Petherick • 16 min read
NoHo Senior Arts Colony, North Hollywood, Calif. This sharp looking, low-rise development in the NoHo Arts District of Los Angeles, 20% affordable units and 80% market-rate, provides residents not only with quality apartments and amenities but also plenty of interesting and creative activities – classes in screenwriting, poetry, meditation, and yoga, as well as game and movie nights and concerts.
Glenn Petherick • 5 min read
California architect Manny Gonzalez has witnessed a lot of changes over the last two decades in the design of affordable apartment communities for seniors, including those funded in part with low-income housing tax credits. As a result he can describe the changes as well as offer key suggestions to developers about important features for new senior communities today.
Glenn Petherick • 8 min read
Low-income housing tax credits have been used to help finance one component of an innovative campus being developed in Detroit that is designed to meet the diverse housing and health care needs of low-income seniors, including frail individuals.
A. J. Johnson • 6 min read
Many owners and managers of existing multifamily housing properties converting under the federal Rental Assistance Demonstration (RAD) program will need to become familiar with the compliance requirements for the federal low-income housing tax credit (LIHTC) program and often also those of other subsidy programs. Many RAD transactions will utilize the housing tax credit equity to raise equity to renovate and recapitalize these properties.