In an industry where projects often require multiple sources of financing, bonds can be a valuable and often necessary part of the capital stack for affordable housing developments.
Property values increase an average of 13 percent when multiple Low Income Housing Tax Credit developments are built in a neighborhood, a newly published study found.
Market feasibility studies are not just a required step in federal and state financing programs, but an invaluable tool to ensure that affordable housing projects are marketable.
In what may be a once in a generation update, three government agencies released joint proposed rules to update The Community Reinvestment Act, or CRA, on how activities qualify for consideration, where those activities are considered and how they are evaluated.
While the efficiency of Emergency Rental Assistance funds disbursement differed from state to state, affordable housing and asset managers agree the aid was an invaluable tool during the pandemic helping residents stay in their homes, as well as helping property owners meet their financial obligations to their investors.
Tax Credit Advisor interviewed John Moran, chief executive officer, and Glendon Steady, chief operations officer, about the pandemic’s effect on supply chains and project costs and the current state of affairs of contract language.
As construction costs continue to increase, exacerbated due to COVID-related supply chain issues and inflation, manufactured housing is an increasingly attractive option for affordable housing developers.
Like many industries, affordable housing market analysts have felt the effects of the tight labor market, forcing both firms and their clients to look to flexible work schedules, increased pay and non-monetary support to retain talent, industry representatives said at a panel discussion during the National Council of Housing Market Analysts (NCHMA) annual meeting.
William “Bill” MacRostie, founder of MacRostie Historic Advisors and an expert in Historic Tax Credits (HTC), has advised clients working on historic rehabilitation projects regarding everything from homes to ballparks.
As Alliant Capital’s executive vice president, Dudley Benoit oversees the company’s Low Income Housing Tax Credit production teams, originations and investor relations.
As an influx of federal dollars are expected for affordable housing, state housing finance agencies (HFAs) plan to use the money not only to increase existing programs, but in some cases, see this as a historic opportunity to make significant changes.