Eric Gockel Author Archives
NH&RA Hosts ICAST IRA & BIL Instant Benefit Estimate Calculator
ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.
OHFA Updated their FAQs for the 2014 Ohio QAP
Ohio Housing Finance Agency updated their Frequently Asked Questions for the 2014 Ohio QAP.
Montana Board of Housing Will Host a Discussion of the 2016 QAP
Montana Board of Housing will host a discussion of the 2016 QAP at Fairmont Hot Springs on April 1 & 2, 2014.
New York Increases LIHTC Funding
“On Tuesday, January 21, Governor Cuomo presented his proposed FY 2014-15 State Budget calling for 1.7% growth in total spending. The plan which includes a $489 million tax cut package provides significant new investments in existing affordable housing programs over the prior year. Most noteworthy is a proposed increase of $33 million for the Homeless […]
Progress on the CRA Front: New Guidance Could Foster LIHTC Investment by Banks Outside Their Assessment Areas
The federal Community Reinvestment Act (CRA) was enacted in 1977 in the face of furious opposition from the banking industry. One consequence of that opposition was that the text of the proposed statute was severely whittled down in order to gain passage.
FASB EITF Approves Changes to GAAP Accounting For LIHTC
On November 14, the Financial Accounting Standards Board’s (FASB) Emerging Issues Task Force (EITF) reached consensus on amendments to Generally Accepted Accounting Principles (GAAP) for accounting by investors in low-income housing tax credit (LIHTC) investments.
A Better Mousetrap: Different Model Opens Access to NMTC Financing for Smaller Projects
Through the creation of a different structuring model, Smith NMTC Associates, LLC (SNMTC) is making it possible for smaller projects to gain access to new markets tax credit (NMTC) financing by reducing initial and ongoing transaction costs. This “open capitalization” model can be used to fund qualified low-income community investments (QLICIs) as small as $500,000, rather than the usual industry minimum of $5 million.
Financing Energy Savings in Apartment Buildings: Local Solutions to a Global Problem
Today’s low interest rates provide a window of opportunity for urban communities to take a bold step to increase the energy efficiency of their privately owned apartment buildings. Maturing 5- and 10-year mortgages can now be refinanced at interest rates that are 100 to 150 basis points lower, creating the potential for additional investments in these properties.
2014 Charles L. Edson Tax Credit Excellence Awards Program
NH&RA congratulates member winners of AHTCC’s Charles L. Edson Tax Credit Excellence Awards: