Caitlin Jones Author Archives

From Urban High-Rise to Bungalow, Florida Developer Debra Koehler Tackles All Kinds of Projects

& 4 min read

Tax Credit Advisor, April 2009: Florida tax credit developer Debra Koehler, who specializes in rehabbing and preserving older urban high-rise apartment properties, is spending more of her time these days “selling” her deals, because of the greater difficulty today raising tax credit equity.

Housing Funding Increases in FY 2009 Omnibus Bill, FY 2010 Budget Outline

& 3 min read

Tax Credit Advisor, April 2009: Federal funding for housing is increased in the omnibus appropriations bill (H.R. 1105) for Fiscal Year 2009 signed into law (P.L. 111-8) on 3/10/09, and in an outline of President Obama’s proposed budget for the fiscal year (FY 2010) that will begin 10/1/09.

Simplifying LIHTC Program Overlays; Some Sound Advice and Strategies

& 5 min read

By Ruth L. Theobald Probst, CPM¨, HCCPª, SHCMª

Tax Credit Advisor, April 2009: Step-by-step instructions for integrating multiple housing programs

HUD Releases FY 2009 Income Limits for LIHTC, Bond Projects

& 2 min read

Tax Credit Advisor, April 2009: The U.S. Department of Housing and Urban Development (HUD) has issued new income limits for federal Fiscal Year 2009, to be used starting 3/19/09 to determine tenant income and rent limits for housing units assisted by low-income housing tax credits (LIHTCs) or financed by tax-exempt multifamily housing bonds.

Affordable Housing, Retail Space”¦ and a Fire Station

& 6 min read

Tax Credit Advisor, April 2009: Building affordable housing, or any housing for that matter, on top of a fire station might seem highly unusual. But city officials in Alexandria, VA, a close-in suburb of Washington, DC, believe that the new Station at Potomac Yard Apartments will be fully leased when the project opens this fall.

NIMBYism: Using the Fair Housing Act to Overcome Municipal Opposition

& 6 min read

By Michael Allen, Esq., Relman & Dane, PLLC

Tax Credit Advisor April 2009: Developers using the low- income housing tax credit (LIHTC) are no strangers to the NIMBY (“Not In My Back Yard”) syndrome. In some communities, the mere hint of an affordable housing proposal generates a kind of massive resistance reminiscent of the worst, old Jim Crow days. And that is no historical accident, because it is often the apprehension that new tenants will be people of color (or families with children) that gives rise to NIMBYism.

Industry Awaits Guidance on New LIHTC Funding Initiatives

& 10 min read

Tax Credit Advisor, April 2009: The federal government has taken some initial steps to implement the new low-income housing tax credit (LIHTC) funding resources established by the economic stimulus act. But the industry is awaiting critical guidance so state housing credit agencies can begin awarding the funds to stalled LIHTC projects.

New Jersey Board Approves Proposed 2009 QAP

& 1 min read

Tax Credit Advisor, March 2009: The New Jersey Housing and Mortgage Finance Agency’s board has approved the proposed 2009 qualified allocation plan (QAP) for the agency’s low-income housing tax credit program.

Pennsylvania Outlines Possible Adjustments, Waivers to 2009 QAP

& 1 min read

Tax Credit Advisor, March 2009: The Pennsylvania Housing Finance Agency (PHFA) has issued a statement outlining specific adjustments and waivers of certain parameters and limits in its 2009 qualified allocation plan it will consider making in awarding 2009 low-income housing tax credits, to facilitate the viability of projects.

Governor Proposes Ohio New Markets Tax Credit

& 1 min read

Tax Credit Advisor, March 2009: Ohio Gov. Ted Strickland in his recent “State of the State Address” said as part of his new proposed two-year state budget he will seek passage by Ohio lawmakers of legislation to create a new state new markets tax credit to promote downtown revitalization in urban areas.

Domestic Violence Victims Get New Life With Help of New Markets Credit

& 2 min read

Tax Credit Advisor, March 2009: The federal new markets tax credit will be giving numerous domestic violence survivors in New York City a new start in life, through the transformation of a vacant building into a new service-enriched emergency shelter tailored to address their needs.

Governor to Propose Changes to Maryland’s Historic Tax Credit

& 1 min read

Tax Credit Advisor, March 2009: In his proposed FY 2010 state budget, Maryland Gov. Martin O’Malley (D) said he plans to submit legislation to revise and enhance the state’s Heritage Tax Credit Program, which provides a state income tax credit equal to 20% of the qualified costs of rehabilitation for historic income-producing properties and owner-occupied homes.

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