All posts by Mark Fogarty

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Case Study: Capital Vista and Delta Towers

Innovation in deals using both Low Income Housing Tax Credits and tax-exempt bonds can be seen in a pair of Washington, DC affordable housing projects that tapped the two funding sources for more than $80 million using a new master parity indenture program.

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America Votes YES for Affordable Housing

November’s state and municipal elections brought a big crop of newly-approved bonds into the affordable housing finance mix, with some of them passing by wide margins, and the biggest, in California, authorizing a whopping $4 billion in new money.

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NMTC Allocation Trends

The traditional wisdom is that the New Markets Tax Credit (NMTC) and the Low Income Housing Tax Credit (LIHTC) operate in two separate arenas: housing for the LIHTC and business/commercial for the NMTC.

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NMTC Case Study: A Path Forward

Projects, like the Salvation Army’s Freedom Center in Chicago, partially financed by New Markets Tax Credits, are changing the way people think about issues, like homelessness, substance abuse and the reintegration of prisoners into society.

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Attention!

Can the four percent and nine percent tax credits co-exist peacefully in the same housing project? At the Building 9 project in Sands Point, Seattle, Mercy Housing Northwest decided the two forms of credit could, as long as they were segregated into separate projects in the same development.

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Income Averaging Trends

State housing finance agencies are still feeling their way into the new Income Averaging (IA) authority, with no clear consensus yet on standard practices for how it will be implemented.

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Multi-Credit Case Study: My Old Kentucky Dome

A $32 million renovation of an old courthouse in Lexington, KY, using both State and Federal Historic Tax Credits, has converted an 120-year-old structure into a beautiful multi-use boon to downtown redevelopment – and also righted a spectacular architectural fail from 50 years ago when a beautiful interior dome was sealed off and turned into an HVAC closet.

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