Caitlin Jones & A. J. Johnson • 3 min read
Tax Credit Advisor July, 2006: In two important recent victories for preservationists and developers, the legislatures of Connecticut and Massachusetts have significantly broadened their states’ historic tax credit.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor July, 2006: Florida Gov. Jeb Bush recently signed into law legislation that adds $271 million in new affordable housing funding, including money for an innovative program to expand workforce housing. House Bill No. 1363 also provides for a novel approach to the donation of land for affordable housing.
Caitlin Jones & A. J. Johnson • 3 min read
Tax Credit Advisor July, 2006: The Community Development Financial Institutions (CDFI) Fund and Internal Revenue Service have provided guidance on the designation of targeted populations under the New Markets Tax Credit program. The guidance includes a special designation in the Hurricane Katrina Gulf Opportunity (GO) Zone.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor June, 2006: Nonprofit organizations developing low-income housing tax credit projects should now have an easier time obtaining determinations of tax-exempt status from the Internal Revenue Service.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor June, 2006: The federal historic tax credit has generated a high volume of construction and permanent jobs, tax revenues, and other economic benefits, according to a new study by the National Trust for Historic Preservation and Rutgers University.
Caitlin Jones & A. J. Johnson • 8 min read
Tax Credit Advisor June, 2006: Mixed-income housing has become a frequent topic in discussions of the federal low-income housing tax credit (LIHTC), as state and local allocating agencies seek to promote income diversity.
Caitlin Jones & A. J. Johnson • 2 min read
Tax Credit Advisor June, 2006: The following summarizes the criteria IRS agents will look for in applications for tax-exempt status by nonprofits proposing to develop low-income housing credit projects, under the new IRS memo.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor June, 2006: Despite a worrisome trend towards increased risk and reduced yield, investment in housing tax credit equity still makes sense if the underlying property has strong fundamentals and adequate protections are in place, a group of investors concluded. The investors spoke in March at a panel held during the National Housing & Rehabilitation Association’s annual meeting in Miami Beach, Fla.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor June, 2006: Tax credit apartment projects are increasingly going “green.” A key part of this trend is the selective adaptation to multifamily housing of building features and techniques used in developing environmentally-friendly single-family homes.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor June, 2006: State allocators in California, New Mexico, and Washington are taking different approaches to address rising project costs in their low-income housing tax credit application cycles. These include varied kinds of cost limits, greater encouragement of “green” building characteristics, and more reliance on other subsidies.
Caitlin Jones & A. J. Johnson • 3 min read
Tax Credit Advisor May, 2006: In a follow-up interview with Tax Credit Advisor, Adam Galowitz of Recapitalization Advisors assessed the growing volume of properties approaching the Year 15 deadline, and the expanding list of states providing guidance on qualified contracts.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor May, 2006: As housing tax credit developers approach the end of their properties’ initial 15-year compliance period, they should be wary of requesting qualified contracts in order to opt out of extended use agreements, a panel of experts warned.