Mark Fogarty Author Archives

What strategies can developers use for successful affordable housing preservation of tax credit properties that have hit the 15-year mark with negative equity?

A hugely ambitious public-private partnership is starting to see some big preservation projects getting finished in Baltimore.

New Markets Tax Credits (NMTCs) can make a big difference in bolstering rural development and preventing manufacturers from fleeing to greener pastures.

Pension funds have long been the sleeping giants of housing. That’s because while they have a significant share in the sector, real estate is usually a fairly small part of their overall portfolios and so doesn’t loom very large on their radar screens.

Returning equity investor Fannie Mae doesn’t expect the new changes to the tax code will crimp its return to the Low Income Housing Tax Credit market.

Property managers in the affordable housing sector aren’t there just to collect the rent and keep steam in the radiators. Usually they are quite concerned about their residents’ quality of life.

Affordable housing in Missouri may take a big hit after the state Housing Development Commission voted against matching Federal Low Income Housing Tax Credits with State Housing Tax Credits as they have done in past years.

Private activity bonds are a huge part of affordable multifamily housing and their elimination—now or in any year—would blow a hole through the market.

Imagine a world without tax credits. No Low Income Housing Tax Credit. No New Markets Tax Credit.

Community development financial institutions are small but nimble providers of housing and economic development funding for a very wide array of purposes often not filled by traditional lenders. They are often useful to help make Low Income Housing Tax Credit deals work by providing things, like LIHTC equity bridge financing and capital for general and limited partnership acquisitions.

The people at the Special Olympics of Georgia obviously expect their $5.6 million new facility, financed with the help of New Markets Tax Credits, to last. They are planning to fill a time capsule to be opened there 50 years from now.

Now that Fannie Mae and Freddie Mac have been greenlighted to get back into the Low Income Housing Tax Credit market, the big agencies aren’t wasting any time. Freddie hopes to announce its first investment next month, and Fannie says it expects to re-enter the market in the first quarter of next year.