All posts by Mark Olshaker

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The Continuing Evolution of RAD

“RAD has been the most positive experience I’ve had working with HUD,” states Richelle Patton, president of Collaborative Housing Solutions of Decatur, GA, a consulting firm that specializes in creative problem-solving to develop affordable rental housing. She specializes in HUD’s Rental Assistance Demonstration program, has been involved with around 18,000 RAD unit conversions and has served as a RAD transaction manager for HUD.

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Multi-Credit Case Study: Hollywood Arts Collective

Motivation is a basic actors’ tool – and it’s also the driving force behind the Actors Fund’s tireless effort to create the Hollywood Arts Collective: a new multi-use affordable housing development for all entertainment industry professionals being developed in Los Angeles.

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Whose Opportunity Is It Anyway?

When the Opportunity Zones program was added to the bipartisan Tax Cuts and Jobs Act of 2017, it was presented as a triple bottom line win: helping underserved communities achieve economic growth and build wealth for residents and businesses; bringing a new source of investment dollars into those communities; and offering the new investors an attractive way to defer and even offset capital gains taxes.

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Case Study: Newark Arts Commons

Ever since the Opportunity Zone program was announced two years ago, developers, investors and community development organizations have been trying to determine which other tax benefit programs, if any, fit comfortably within the same requirements and parameters.

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Reacting to REAC

REAC inspections, the means by which the Department of Housing and Urban Development’s Real Estate Assessment Center evaluates the fitness of HUD-subsidized housing, is being overhauled after 20-odd years.

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Assuming Responsibility

“The housing crisis in many ways is worse than it’s ever been. We have a 7.5 million unit shortage for the lowest income group and it’s growing. More people are experiencing homelessness than ever before. There is an explosion of people suddenly homeless. In some communities on the West Coast, real estate prices are causing severe increases that affect everybody down the line.”

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Saving New Markets Tax Credits

The New Markets Tax Credit (NMTC) program faces political pressure. It is being questioned in some circles as no longer being necessary, now that other Trump-era initiatives, such as Opportunity Zone investments, have been put in place.

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