By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, March 2009: State allocating agencies in the Southeast U.S. are experiencing differing impacts from changed market conditions as they carry out their 2009 low-income housing tax credit (LIHTC) application cycles.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, March 2009: The new economic stimulus act contains billions of new dollars for affordable rental housing that should be channeled to developers in the near future, including for stalled low-income housing tax credit (LIHTC) projects.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: On 1/22/09, the U.S. Senate confirmed Shaun Donovan as the new Secretary of the U.S. Department of Housing and Urban Development. Former Iowa governor Thomas Vilsack was confirmed on 1/20/09 as Secretary of the U.S. Department of Agriculture, which administers federal rural housing programs.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009:The USDA’s Rural Housing Service has solicited proposals from lenders for new Section 538 guaranteed loans for rural affordable rental housing projects, subject to the availability of appropriations. About $129 million was appropriated for the program in the last fiscal year (FY 2008).
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: The U.S. Department of Housing and Urban Development on 1/12/09 in the Federal Register published a notice announcing the new Annual Adjustment Factors (AAFs) to be used to adjust Section 8 contract rents on assistance contract anniversary dates.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: The U.S. Census Bureau on 12/22/08 issued revised population estimates, as of 7/1/08, for all 50 states, the District of Columbia, and Puerto Rico. These new estimates, once officially transmitted by the IRS in a notice, will be used to compute the official 2009 volume caps for each state for low-income housing tax credits and tax-exempt private activity bonds.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: The California Tax Credit Allocation Committee recently issued a notice outlining a handful of additional proposed changes to its proposed regulations for its 2009 low-income housing tax credit program.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: The Maryland Affordable Housing Trust (MAHT) is soliciting applications by 3/6/09 for funding in its most recent funding round. Funds are provided as grants to promote affordable housing for households earning less than 50% of the area or statewide median income.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: The federal new markets tax credit (NMTC) is being used to help finance the $32 million redevelopment of a dilapidated warehouse in New Orleans, LA into the nation’s first green film studio.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: The Community Development Financial Institutions (CDFI) Fund on 1/16/09 announced the opening of its seventh, last scheduled funding round for the federal new markets tax credit (NMTC) program, with some significant changes from previous rounds.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: Incorporating green and sustainable building features and practices in historic preservation projects is becoming more popular. And there are a variety of steps and approaches that can be taken and still qualify a project for federal tax incentives, such as the historic rehabilitation tax credit, according to industry sources recently interviewed by the Tax Credit Advisor.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor, February 2009: Washington, DC developer Gerry Joseph is calling on his more than 30 years’ of experience in the affordable housing and community development industry as he navigates his way through today’s stormy financial and economic challenges.