Industry News

IRS Releases Long-Anticipated Guidance on 50(d) Income

On July 21st, the IRS released guidance regarding Internal Revenue Code 50(d)(5). The long-awaited guidance affects market rate transactions involving Historic Tax Credits.

Congress Unanimously Approves Housing Opportunity Through Modernization Act

If signed into law, the bill would strengthen the project based rental assistance program, reduce the burden of public housing and PBRA unit inspections, and change the way tenant incomes are calculated, reviewed, and addressed.

Senators Cantwell and Hatch Introduce Second Piece of Legislation Amending the LIHTC

On Thursday, July 14, Senate Finance Committee member Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced legislation (S.3237) to improve the Low Income Housing Tax Credit.

Member News

Martin Kent Joins Lancaster Pollard as Chief Credit Officer

Kent, most recently the director of multifamily credit/underwriting for Fannie Mae’s seniors housing programs, will provide credit oversight for all the firm’s banking activities.

John Leith-Tetrault Honored with NH&RA Chairman’s Award at Summer Institute

John Leith-Tetrault, founder of the National Trust Community Investment Corporation (NTCIC) was honored with NH&RA’s Chairman’s Award at an award presentation at the NH&RA Summer Institute on Thursday, July 21.

CREA, LLC Announces Closing of $224.8M Corporate Tax Credit Fund

CREA, LLC (CREA) is pleased to announce the closing of CREA Corporate Tax Credit Fund 48, LLC (“Fund 48”) with total capital raised of $224.8 million from 12 investors; ten of which are repeat relationships for CREA.

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