News

CohnReznick recently released the sixth installment of an ongoing report, Housing Tax Credit Investments: High Performance and Increased Need. The report surveys a portfolio of over 22,000 LIHTC properties and the numbers this year show the best performance recorded over the 31 year history of the LIHTC program.

HUD recently published a notice in the Federal Register that establishes an expedited process for reviewing requests for relief from HUD regulatory/administrative requirements for PHAs located in Texas, U.S. Virgin Islands, Puerto Rico, Florida, and Georgia. The expedited process will also apply to future Major Disaster Declarations for the remainder of 2017.

The Successful Stewardship of Multifamily Housing Recapitalization Workbook is designed to support the exploration and decision-making that owners will undertake to preserve their properties. 

For mixed-finance projects, it can be difficult to refinance a property prior to the expiration of the tax credit compliance period. With this in mind, HUD’s Office of Recapitalization has adopted alternative underwriting criteria for these properties.

The House this week began debate over its fiscal 2018 budget resolution. While Tax Reform is a large task for Congress to take on, passing a concurrent resolution over the next month will be a critical first step in making tax reform more plausible for the coming year.

As anticipated, Republican leadership released a tax reform framework intended to guide House and Senate tax writing committees in their drafting of tax reform legislation. The framework does not explicitly preserve the historic tax credit and envisions that most business tax credits will be repealed in order to achieve a 20% corporate tax rate.

The National Housing & Rehabilitation Association announced today that two Boston-based champions of affordable housing and development will receive NH&RA Affordable Housing Vision Awards in recognition of their stewardship and expansion of affordable housing opportunities for low-income families around the country. Pam Goodman, chief executive officer of Beacon Communities, and Chrystal Kornegay, Undersecretary of the Massachusetts Department of Housing and Community Development, will be honored at an awards reception in conjunction with the NH&RA Fall Developers Forum on November 6th at the Renaissance Boston Waterfront Hotel.

Thanks to generous support from HAI Group, the National Housing Preservation Database has a completely redesigned user interface, updated current data, and new property and neighborhood data.

Registration is now open!

Continue reading for three updates from the RAD Team at HUD.

The report found that over 68% of NMTC investments through 2015 could be classified as either single/mixed-use real estate, health care and social services, manufacturing, and education.

While the 9-page “Unified Framework For Fixing Our Broken Tax Code” is silent on many critical details, one key feature is a 20% corporate tax rate. This lower rate potentially creates two snags for the tax-incentivized real estate industry.