Innovative LIHTC Programs Become a Powerful New Tool
State Tax Credits Work in Harmony with Developer’s Capital Stack
Abram Mamet • 9 min read
As challenges continue to buffet the low-income housing market, an increasing number of states are implementing their own versions of a Low Income Housing Tax Credit (LIHTC). According to a recent Novogradac report, 17 states have added completely new state tax credit programs since 2013, resulting in a total of 29 states and Washington, DC having unique LIHTC incentives.
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Case Study
Replacing and Preserving Affordable Housing Amidst Urban Revitalization
The Perkins Homes Redevelopment – A“Choice Neighborhood”
Ethan Finlan • 7 min read
Since 2018, the City of Baltimore, the Housing Authority of Balti-more City (HABC), planners, architects and developers have been working on a comprehensive redevelopment of a large public housing project near the city’s famous Inner Harbor.
Case Study
Adaptive Reuse Turns Empty Storefronts into Affordable Housing
California’s Workforce Housing Solution
Mark Fogarty • 6 min read
The California city of Santa Barbara is an affluent place. Oprah Winfrey lives there. President Reagan had his ranch there. But its commercial district was starting to look ragged post-pandemic, with stores going out of business due to online competition from Amazon and others.
Case Study
A Developer for Inner Cities
Fifty Years with The Taurus Apartments in Roxbury
Mark Fogarty • 6 min read
John B. Cruz III is a raconteur. You’ll learn a lot from listening for an hour to this dignified, elderly developer, head of the Cruz Companies in Boston.
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Taxpayer Donations Bolster Affordable Housing
Minnesota State Housing Tax Credit Program and Contribution Fund
Pamela Martineau • 8 min read
Minnesotans hoping to bolster the state’s affordable housing stock may donate to affordable housing projects, requesting to have their donation allocated to a specific project or a general affordable housing fund and receive a tax credit of 85 percent of their donation through a new state program.
New Program Facilitates Land Purchasing for Affordable Housing
Colorado’s Land Banking Program
Nushin Huq • 9 min read
A new land banking program in Colorado aims to help developers purchase land for affordable housing, solving the unique problem of not having tax credits to purchase land, as well as creating access to development in rural areas.
Breaking Ground
Will Eckstein, Senior Vice President, Harmony Housing Affordable Development
Darryl Hicks • 8 min read
For much of the past 14 years, Will Eckstein has led the team responsible for securing new affordable housing development opportunities at Greystone Affordable Development,. Tax Credit Advisor sat down with Eckstein to learn more about HHAD and his priorities for the balance of 2024.
Tapping Grants, Loans and Incentives to Cut Project Costs
Ensuring the Affordable Housing Market Benefits From Federal and Local Government Resources
Ravi Malhotra • 3 min read
Government programs typically do not consider or emphasize strategic and meaningful leveraging and collaboration with other programs, much less provide valuable guidance to do so.
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Monthly Columns
Blueprint for April
“Bend the Curve”
Jessica Hoefer • 3 min read
I just had the privilege of watching a National Housing & Rehabilitation Association member interview Gloria Steinem for his webcast. At 90, Steinem has not lost a beat. She is as eloquent, thought-provoking and inspiring as ever.
Industry Insights
The Hope of Spring
Kaitlyn Snyder • 5 min read
Recent good news has me feeling like the affordable housing industry is awakening from a bleak winter into a springtime blossoming with federal action that will make it easier to build and preserve affordable housing.
Legally Speaking
Federal Tax Credit Legislation Recognizes Housing Crisis and Provides Platform for Additional Reform
Ken Lore, Charlie Metzger & Glenn S. Miller • 6 min read
Against a backdrop of rising rents nationwide and a lack of housing supply in major cities, suburbs, and rural areas, leaders in Washington, DC are devoting significant time and attention to addressing the affordable housing crisis. President Biden, in his March 7th State of the Union address, called for Congress to enact his plan to “build and renovate two million affordable homes and bring…rents down.”
The Guru Is In
Algorithmic Morality
David A. Smith • 5 min read
Those who say you can’t put a price on virtue have never worked in the capital markets. Although people say they value many things, what they actually pay for is what they truly value. Increasingly, that is virtue, or the appearance of virtue, now manifesting itself in the availability, terms, security and risk-adjusted yield of debt or equity instruments.