By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009: Galen Terrace, an 84-unit affordable apartment property in the Anacostia neighborhood of Washington, DC, is a poster child for the benefits of green retrofitting.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009: Green is now the color in developers’ eyes. Whether it’s affordable rental housing assisted by the low-income housing tax credit (LIHTC), historic rehabilitation, or a new markets tax credit project, developing in a green and sustainable fashion has become almost essential to compete effectively for tax credits and other resources.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009 The Community Development Financial Institutions (CDFI) Fund is soliciting public comments and responses to questions and issues raised regarding how it should design, implement, and administer the new Capital Magnet Fund (CMF) program authorized by the Housing and Economic Recovery Act of 2008 (HERA). Comments are due by 5/5/09.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009: Florida tax credit developer Debra Koehler, who specializes in rehabbing and preserving older urban high-rise apartment properties, is spending more of her time these days “selling” her deals, because of the greater difficulty today raising tax credit equity.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009: Federal funding for housing is increased in the omnibus appropriations bill (H.R. 1105) for Fiscal Year 2009 signed into law (P.L. 111-8) on 3/10/09, and in an outline of President Obama’s proposed budget for the fiscal year (FY 2010) that will begin 10/1/09.
By Caitlin Jones & A. J. Johnson
By Ruth L. Theobald Probst, CPM¨, HCCPª, SHCMª
Tax Credit Advisor, April 2009: Step-by-step instructions for integrating multiple housing programs
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009: The U.S. Department of Housing and Urban Development (HUD) has issued new income limits for federal Fiscal Year 2009, to be used starting 3/19/09 to determine tenant income and rent limits for housing units assisted by low-income housing tax credits (LIHTCs) or financed by tax-exempt multifamily housing bonds.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009: Building affordable housing, or any housing for that matter, on top of a fire station might seem highly unusual. But city officials in Alexandria, VA, a close-in suburb of Washington, DC, believe that the new Station at Potomac Yard Apartments will be fully leased when the project opens this fall.
By Caitlin Jones & A. J. Johnson
By Michael Allen, Esq., Relman & Dane, PLLC
Tax Credit Advisor April 2009: Developers using the low- income housing tax credit (LIHTC) are no strangers to the NIMBY (“Not In My Back Yard”) syndrome. In some communities, the mere hint of an affordable housing proposal generates a kind of massive resistance reminiscent of the worst, old Jim Crow days. And that is no historical accident, because it is often the apprehension that new tenants will be people of color (or families with children) that gives rise to NIMBYism.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, April 2009: The federal government has taken some initial steps to implement the new low-income housing tax credit (LIHTC) funding resources established by the economic stimulus act. But the industry is awaiting critical guidance so state housing credit agencies can begin awarding the funds to stalled LIHTC projects.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, March 2009: The New Jersey Housing and Mortgage Finance Agency’s board has approved the proposed 2009 qualified allocation plan (QAP) for the agency’s low-income housing tax credit program.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, March 2009: The Pennsylvania Housing Finance Agency (PHFA) has issued a statement outlining specific adjustments and waivers of certain parameters and limits in its 2009 qualified allocation plan it will consider making in awarding 2009 low-income housing tax credits, to facilitate the viability of projects.