Glenn Petherick Author Archives

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

The Florida Housing Finance Corporation (FHFC) has drastically modified its competitive process for awarding 9% low-income housing tax credits and other funds for affordable multifamily rental housing projects.

For Brian McDonough, an attorney in Miami, and The Michaels Organization, a developer/owner/ manager based in Marlton, N.J., affordable housing means more than just what they do for a living. Rather, it’s also a way to give back to those in need and “pay it forward.”

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Although the improving economy has helped boost occupancy rates to high levels at many low-income housing tax credit (LIHTC) properties, it still takes a combination of the right people, product, tools, and processes to achieve effective property management of these assets.

State housing finance agencies in the nation’s “Four Corners” region – the point where Arizona, Colorado, New Mexico, and Utah come together – are at different stages in their low-income housing tax credit programs this year and have different priorities. But they share a common need for additional affordable rental units, particularly in faster growing communities in their state.

The Affordable Housing Tax Credit Coalition recognized winners of the 19th Annual Charles L. Edson Tax Credit Excellence Awards at a recent ceremony in Washington, D.C. The awards honor outstanding affordable rental housing developments throughout the nation funded with federal low-income housing tax credits.

Indeed the new supportive housing project, which contains 56 studio apartments targeted to low-income individuals with special needs, including formerly homeless individuals, military veterans, and ex-offenders, is part of something that the nation – and perhaps the world – has never seen before.

An overlooked federal incentive, the new energy efficient home tax credit, is a source of potential extra benefits for affordable housing developers and investors, says Christopher Thomas, a partner at CohnReznick LLP.

Our journey in the real world of tax credit housing also takes us to examine the low-income housing tax credit programs of the four states that make up the “Four Corners” – Arizona, Colorado, New Mexico, and Utah – in advance of NH&RA’s 2013 Summer Institute in Santa Fe, N.M.

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A small niche in the affordable housing world has just doubled in size. The number of real estate investment trusts (REITs) that exclusively provide capital for multifamily preservation transactions has increased from one to two.

Working renter households fell further behind their homeowner counterparts in housing affordability in 2011, according to a new report from the National Housing Conference’s Center for Housing Policy.