Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor, February 2009: The Housing and Economic Recovery Act of 2008 (H.R. 3221), signed into law on July 30, 2008, made one change to the low-income housing tax credit (LIHTC) program that was somewhat surprising and unexpected. This was a “clarification” to the program’s general public use requirements.
Caitlin Jones & A. J. Johnson • 3 min read
Tax Credit Advisor, February 2009: IRS senior program analyst Grace Robertson clarified the applicability of the tax credit tenant income certification rules to existing projects that receive a new allocation of tax credits and are resyndicated, in comments during the recent HFA Institute conference in Washington, DC sponsored by the National Council of State Housing Agencies.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor, February 2009: Romero Rose LLC had always intended for the new Silver Gardens Apartments in downtown Albuquerque, NM to be a model of environmental responsibility.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor, February 2009: Different participants in the low-income housing tax credit (LIHTC) discussed the current state of the industry, the steps they are have taken or are taking, and their expectations and hopes for 2009, in comments at a recent conference in Washington, DC.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor, February 2009: The new, 111th Congress appears likely to approve at least some benefits for the beleaguered low-income housing tax credit industry as part of the economic stimulus bill working its way toward the desk of new President Obama.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: USDA’s Rural Development (RD) has issued an unnumbered letter that outlines the key principles to be followed by RD staff to underwrite multifamily housing revitalization transactions, including transfers of ownership transactions and Multifamily Portfolio Revitalization demonstration program deals.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: HUD is soliciting applications for roughly $9.5 million in grant funds, to be used to make emergency capital repairs to nonprofit-owned multifamily projects designated for occupancy by elderly tenants. Eligible projects are those assisted under HUD’s Section 8, 202, 221(d)(3), and 236 programs, and Rural Development Section 515 projects receiving Section 8 assistance.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: The U.S. Department of Housing and Urban Development (HUD) has published a notice regarding the applicability to HUD’s public housing and Section 8 tenant-based and project-based voucher programs of certain provisions of the recent Housing and Economic Recovery Act (HERA).
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: The Community Development Financial Institutions (CDFI) Fund will likely open the next funding round for the federal new markets tax credit (NMTC) program in mid-January 2009, and release application materials then, CDFI Fund Director Donna Gambrill told a Washington, DC conference on 12/2/08. She said applicants will likely have until April 2009 to turn in applications.
Caitlin Jones & A. J. Johnson • 9 min read
Tax Credit Advisor, January 2009: McCormack Baron Salazar, a St. Louis, MO-based developer, specializes in projects that help rebuild distressed neighborhoods within major urban cores. For many years, the company has developed a number of mixed-income, mixed-use communities under the HOPE VI public housing revitalization and mixed-finance programs administered by the U.S. Department of Housing and Urban Development (HUD).
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: The U.S. Office of the Comptroller of the Currency has published a Community Developments Insights report that describes how banks can participate in the federal historic rehabilitation tax credit program.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: The U.S. Census Bureau has released the first comprehensive data since 2000 for more than 2,500 mid-sized counties, cities, and towns, providing the first statistical “portrait” of these communities on a wide range of key socioeconomic and housing topics.