4% LIHTC Tag Archives

THDA Multifamily Programs Updates

The Multifamily Programs office of the Tennessee Housing Development Agency (THDA) sent an email providing several updates on its activities. THDA has yet to publish its 2019 Multifamily Tax-Exempt Bond Authority (MTBA) and Competitive Low Income Housing Tax Credit applications but wrote that they are under development and should be available soon.  

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Rep. Brady Announces Draft Tax Measure; Text to be Circulated Soon

House Ways & Means Chairman Kevin Brady (R-TX) has announced he has completed a draft tax measure to fix the “retail glitch” in the new tax law and address many tax extenders.  The draft measure is expected to be circulated in the next few days. It is unclear at time of press whether any affordable housing, historic rehabilitation or New Markets Tax Credit provisions are included in Chairman Brady’s draft, which is said to include between 70-80 alterations to last year’s the tax law, HR 1.  The measure is a potential vehicle for several NH&RA priorities including fixing the 4 percent LIHTC rate, basis adjustment provisions for the historic credit and an extension of the NMTC, which is set to sunset next year.  We will update this story as it develops.

California Releases 4% Applications and Attachments

The TCAC 2018 applications and attachments for 4% non-competitive projects are available on the TCAC website:

http://www.treasurer.ca.gov/ctcac/2018/application/index.asp

The treatment of purchase price in excess of appraised value as presented in the application is expected to be revised.  Applicants for the March Committee meeting may use the current 2018 application.  TCAC will send a subsequent notice if changes are made to the 4% application template.

The 9% competitive and 4% competitive Excel applications are currently being revised.  Staff expects these to be available the week of January 15th.  TCAC will send a subsequent notice when this documentation is available.

For general application questions contact the appropriate regional analyst:  http://www.treasurer.ca.gov/ctcac/assignments.asp

For technical questions or issues related to the Excel application please contact Zhuo “Jewel” Chen at:  zhuo.chen@treasurer.ca.gov

For more information visit our website: California Tax Credit Allocation Committee.

New Analysis Estimates Repeal of PABs Would Reduce Affordable Housing Production by 75,000 Units Annually

A new analysis conducted by the law firm Norris George & Ostrow, PLLC and shared with a number of Senators and Congressional Representatives finds that the elimination of Private Activity Bonds (PABs) proposed in HR 1 would reduce affordable housing production by as much as 75,000 units per year or about 60% of the nation’s annual affordable housing production. 

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