Glenn Petherick • 5 min read
The Florida Housing Finance Corporation (FHFC) has drastically modified its competitive process for awarding 9% low-income housing tax credits and other funds for affordable multifamily rental housing projects.
Glenn Petherick • 6 min read
For Brian McDonough, an attorney in Miami, and The Michaels Organization, a developer/owner/ manager based in Marlton, N.J., affordable housing means more than just what they do for a living. Rather, it’s also a way to give back to those in need and “pay it forward.”
Glenn Petherick • 3 min read
On June 11, U.S. Sens. Jay Rockefeller (D-W.Va.) and Roy Blount (R-Mo.) introduced legislation (S. 1133) that would make the federal new markets tax credit (NMTC) program permanent and permit new markets tax credits to offset federal alternative minimum tax liability. Original co-sponsors of the measure, which was referred to the Senate Finance Committee, include […]
Glenn Petherick • 10 min read
Although the improving economy has helped boost occupancy rates to high levels at many low-income housing tax credit (LIHTC) properties, it still takes a combination of the right people, product, tools, and processes to achieve effective property management of these assets.
Glenn Petherick • 10 min read
State housing finance agencies in the nation’s “Four Corners” region – the point where Arizona, Colorado, New Mexico, and Utah come together – are at different stages in their low-income housing tax credit programs this year and have different priorities. But they share a common need for additional affordable rental units, particularly in faster growing communities in their state.
Glenn Petherick • 2 min read
The Affordable Housing Tax Credit Coalition recognized winners of the 19th Annual Charles L. Edson Tax Credit Excellence Awards at a recent ceremony in Washington, D.C. The awards honor outstanding affordable rental housing developments throughout the nation funded with federal low-income housing tax credits.
Glenn Petherick • 6 min read
Indeed the new supportive housing project, which contains 56 studio apartments targeted to low-income individuals with special needs, including formerly homeless individuals, military veterans, and ex-offenders, is part of something that the nation – and perhaps the world – has never seen before.
Glenn Petherick • 4 min read
An overlooked federal incentive, the new energy efficient home tax credit, is a source of potential extra benefits for affordable housing developers and investors, says Christopher Thomas, a partner at CohnReznick LLP.
Glenn Petherick • 2 min read
Our journey in the real world of tax credit housing also takes us to examine the low-income housing tax credit programs of the four states that make up the “Four Corners” – Arizona, Colorado, New Mexico, and Utah – in advance of NH&RA’s 2013 Summer Institute in Santa Fe, N.M.
Glenn Petherick • 2 min read
The next application round for the federal new markets tax credit program will open in late July and close two months later, according to U.S. Department of Treasury official Don Graves. Graves, Deputy Assistant for Small Business, Community Development and Housing Policy, noted the timing for the 2013 NMTC allocation application round in a speech […]
Glenn Petherick • 6 min read
A small niche in the affordable housing world has just doubled in size. The number of real estate investment trusts (REITs) that exclusively provide capital for multifamily preservation transactions has increased from one to two.
Glenn Petherick • 2 min read
Working renter households fell further behind their homeowner counterparts in housing affordability in 2011, according to a new report from the National Housing Conference’s Center for Housing Policy.