Caitlin Jones • 1 min read
It’s not just the tenant files. Effectively managing a low-income housing tax credit property these days means more than just dotting all the i’s and crossing all the t’s to make sure that the program’s compliance rules are met so investors can get their credits.
Caitlin Jones • 2 min read
Tax Credit Advisor, March 2011: With the help of historic rehabilitation and new markets tax credits, a 151-year-old former firehouse in Boston is being renovated into offices in a $2.2 million project by Historic Boston, Inc., a local nonprofit real estate and historic preservation organization.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: On February 14, the Obama Administration released its proposed FY 2012 federal budget calling for reduced spending for a number of housing and community development programs, even as federal funding levels remained unsettled for the rest of FY 2011, which ends September 30.
Caitlin Jones • 2 min read
Tax Credit Advisor, March 2011: Will Cooper Sr. and Will Cooper Jr. own and operate WNC & Associates, Inc., an Irvine, Calif.-based syndicator of low-income housing tax credits. The privately-owned company also operates a community development entity and syndicates federal new markets tax credits. Recently, the pair discussed their company and industry issues.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: Affordable housing advocates, including those in the low-income housing tax credit industry, are distressed over a budget proposal by new California Gov. Jerry Brown to eliminate the state’s local redevelopment agencies and to redirect the use of the redevelopment funds that they now control.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: Normally a developer gets to own a low-income housing tax credit project – or at least a small piece of one – by securing the financing and building the property.
Caitlin Jones • 1 min read
Tax Credit Advisor, March 2011: Evolution is critical to the success of any creative endeavor. Since 2004, Enterprise has partnered with leading affordable housing organizations and green building experts to deliver cost-effective green development strategies and move the market.
Caitlin Jones • 1 min read
By Will Cooper Jr., President and CEO, WNC & Associates, Inc.
Tax Credit Advisor, February 2011: As the low-income housing tax credit (LIHTC) program enters its 25th year, there are many reasons to celebrate. The LIHTC program, the nation’s largest and most successful federal affordable housing program, has had a magical run since 1986. Yet the winds of fiscal and political change are upon it, and both the success and support that the LIHTC program has long enjoyed could easily be eclipsed by this change.
Caitlin Jones • 1 min read
Tax Credit Advisory, February 2011: The disability movement has a sparkling, visible new national symbol in a two-story development in Berkeley, Calif., funded in part by the federal new markets tax credit. The projects used the “targeted populations” criteria to qualify for this incentive.
Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: The National Council of State Housing Agencies (NCSHA) has issued revised recommended practices for low-income housing tax credit (LIHTC) underwriting and allocations by state housing credit agencies (HCAs).
Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: In Austin, Texas, Foundation Communities is developing a 150-unit low-income housing tax credit project that will have many green features, and is retrofitting its existing apartment properties to make them more energy efficient.
Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: The John D. and Catherine T. MacArthur Foundation has seeded a new “enhanced” low-income housing tax credit (LIHTC) fund providing added protection to investors against any cut-off of HUD Section 8 rent subsidies to financed projects.
The fund has two classes of investors with different yields and changing benefit ratios.