A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, February 2009:The USDA’s Rural Housing Service has solicited proposals from lenders for new Section 538 guaranteed loans for rural affordable rental housing projects, subject to the availability of appropriations. About $129 million was appropriated for the program in the last fiscal year (FY 2008).
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, February 2009: The U.S. Department of Housing and Urban Development on 1/12/09 in the Federal Register published a notice announcing the new Annual Adjustment Factors (AAFs) to be used to adjust Section 8 contract rents on assistance contract anniversary dates.
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, February 2009: The U.S. Census Bureau on 12/22/08 issued revised population estimates, as of 7/1/08, for all 50 states, the District of Columbia, and Puerto Rico. These new estimates, once officially transmitted by the IRS in a notice, will be used to compute the official 2009 volume caps for each state for low-income housing tax credits and tax-exempt private activity bonds.
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, February 2009: The California Tax Credit Allocation Committee recently issued a notice outlining a handful of additional proposed changes to its proposed regulations for its 2009 low-income housing tax credit program.
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, February 2009: The Maryland Affordable Housing Trust (MAHT) is soliciting applications by 3/6/09 for funding in its most recent funding round. Funds are provided as grants to promote affordable housing for households earning less than 50% of the area or statewide median income.
A. J. Johnson & Caitlin Jones • 1 min read
Tax Credit Advisor, February 2009: The federal new markets tax credit (NMTC) is being used to help finance the $32 million redevelopment of a dilapidated warehouse in New Orleans, LA into the nation’s first green film studio.
A. J. Johnson & Caitlin Jones • 3 min read
Tax Credit Advisor, February 2009: The Community Development Financial Institutions (CDFI) Fund on 1/16/09 announced the opening of its seventh, last scheduled funding round for the federal new markets tax credit (NMTC) program, with some significant changes from previous rounds.
A. J. Johnson & Caitlin Jones • 7 min read
Tax Credit Advisor, February 2009: Incorporating green and sustainable building features and practices in historic preservation projects is becoming more popular. And there are a variety of steps and approaches that can be taken and still qualify a project for federal tax incentives, such as the historic rehabilitation tax credit, according to industry sources recently interviewed by the Tax Credit Advisor.
A. J. Johnson & Caitlin Jones • 3 min read
Tax Credit Advisor, February 2009: Washington, DC developer Gerry Joseph is calling on his more than 30 years’ of experience in the affordable housing and community development industry as he navigates his way through today’s stormy financial and economic challenges.
A. J. Johnson & Caitlin Jones • 4 min read
Tax Credit Advisor, February 2009: A new white paper identifies how the current equity crisis is impacting the low-income housing tax credit program in Massachusetts and other states, and recommends 10 steps for making Massachusetts’ program most effective given the current challenges.
A. J. Johnson & Caitlin Jones • 8 min read
Tax Credit Advisor, February 2009: There’s no question it’s tougher today than a year ago to secure debt financing for proposed new low-income housing tax credit (LIHTC) projects. With equity at a shortage and the capital markets still in turmoil, each deal can be a trying experience.
A. J. Johnson & Caitlin Jones • 3 min read
Tax Credit Advisor, February 2009: The North Carolina Housing Finance Agency (NCHFA) in December made a large-scale exchange with developers of old credit awards for new, to try to help assure that proposed low-income housing tax credit (LIHTC) projects will actually be built.