A. J. Johnson Author Archives

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

Tax Credit Advisor, April 2009: Green is now the color in developers’ eyes. Whether it’s affordable rental housing assisted by the low-income housing tax credit (LIHTC), historic rehabilitation, or a new markets tax credit project, developing in a green and sustainable fashion has become almost essential to compete effectively for tax credits and other resources.

The Arizona Department of Housing has published its revised draft qualified allocation plan for the 2009 low-income housing tax credit program.

The Arizona Department of Housing has published and is accepting public comments on its draft application for Tax Credit Assistance Program (TCAP) funding under the American Recovery and Reinvestment Act.

In a letter dated May 11, 2009, California State Treasurer Bill Lockyer sent a letter to key staff at the Department of the Treasury, HUD and the IRS expressing concerns about the recent Application and Terms and Conditions guidance for the implementation of Section 1602 (the Exchange Program) of the American Recovery and Reinvestment Act (ARRA).

NH&RA will continue to update the ARRA resource page below as information is made available.

Tax Credit Advisor, April 2009 The Community Development Financial Institutions (CDFI) Fund is soliciting public comments and responses to questions and issues raised regarding how it should design, implement, and administer the new Capital Magnet Fund (CMF) program authorized by the Housing and Economic Recovery Act of 2008 (HERA). Comments are due by 5/5/09.

Tax Credit Advisor, April 2009: Florida tax credit developer Debra Koehler, who specializes in rehabbing and preserving older urban high-rise apartment properties, is spending more of her time these days “selling” her deals, because of the greater difficulty today raising tax credit equity.

Tax Credit Advisor, April 2009: Federal funding for housing is increased in the omnibus appropriations bill (H.R. 1105) for Fiscal Year 2009 signed into law (P.L. 111-8) on 3/10/09, and in an outline of President Obama’s proposed budget for the fiscal year (FY 2010) that will begin 10/1/09.

By Ruth L. Theobald Probst, CPM¨, HCCPª, SHCMª

Tax Credit Advisor, April 2009: Step-by-step instructions for integrating multiple housing programs

Tax Credit Advisor, April 2009: The U.S. Department of Housing and Urban Development (HUD) has issued new income limits for federal Fiscal Year 2009, to be used starting 3/19/09 to determine tenant income and rent limits for housing units assisted by low-income housing tax credits (LIHTCs) or financed by tax-exempt multifamily housing bonds.

Tax Credit Advisor, April 2009: Building affordable housing, or any housing for that matter, on top of a fire station might seem highly unusual. But city officials in Alexandria, VA, a close-in suburb of Washington, DC, believe that the new Station at Potomac Yard Apartments will be fully leased when the project opens this fall.

By Michael Allen, Esq., Relman & Dane, PLLC

Tax Credit Advisor April 2009: Developers using the low- income housing tax credit (LIHTC) are no strangers to the NIMBY (“Not In My Back Yard”) syndrome. In some communities, the mere hint of an affordable housing proposal generates a kind of massive resistance reminiscent of the worst, old Jim Crow days. And that is no historical accident, because it is often the apprehension that new tenants will be people of color (or families with children) that gives rise to NIMBYism.