All posts by Scott Beyer

You must be a subscriber to Tax Credit Advisor to view this content. Learn more or log in if you’re already a subscriber.

Three Ways Around NIMBYism

Overcoming Nimbyism is hard—maybe the most significant barrier—for developers looking to get projects approved. This is particularly the case for affordable housing projects, which must overcome additional biases. Propose one in a city neighborhood, and the developer could have residents, activists and politicians reject the rendering for any number of reasons.

Read More

How Will COVID-19 Affect New Markets Tax Credits?

The COVID-19 pandemic has brought challenges to the entire economy, particularly to real estate genres that were already in a tenuous situation. New Markets Tax Credits (NMTC) cover a broad array of these asset classes, so one might think the credits, which are issued by the Department of the Treasury and meant to revive distressed areas, will be impacted. Whether or not that happens was the topic at a recent NH&RA panel discussion.

Read More

Housing USA: Making NMTC More Flexible for More Housing

New Markets Tax Credits (NMTC) can be used for a variety of real estate types. They benefit developers building everything from grocery stores to clinics to manufacturing facilities, in areas deemed underserved. They’re bought by financial institutions, who become eligible for a five to six percent tax credit across a seven-year span. They’re syndicated through community development entities (CDEs), which can be either for-profit, nonprofit, or government-run. However, housing developers have somewhat restricted access to this financing tool. While NMTC has been used to build many a mixed-use residential project, the program can be inflexible, particularly regarding the “80/20 rule.”

Read More

Freddie Mac Social Impact Bond Program to Help Fund Affordable Housing

The federal role in providing affordable housing takes various forms, but is mainly focused on subsidies or underwriting for private sector housing. Freddie Mac, the government-sponsored enterprise that purchases mortgage shares and pools them for resale as security investments, is a major conduit for this. In September, the corporation announced a new Social Impact Bond (SIB) product that focuses on multifamily properties, using the proceeds from loans to finance affordable housing.

Read More

The Republican Housing Plan? Localism.

Conservatives often find themselves with two conflicting impulses on housing. They support open markets and property rights and are thus sympathetic to the cause of weakening zoning laws and encouraging construction of different building types.

Read More

Housing USA: Some Fixes for Section 8

Housing is expensive in America, and this creates hardship for low-income renters. It also makes life difficult for landlords, particularly smaller-scale ones: high housing costs discourage long-term leases. While the best answer for these high costs is to increase supply, there is still a need for subsidies.

Read More

Housing USA: Hotel California No More?

California is famous for its low-budget lodging. I stayed in some while traveling the state – little hotels and motels on the roadside that, mixed with the palm trees and desert backdrop, had a noirish feel. They’re a part of California lore, even profiled in that infamous Eagles song.

Read More