Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor, February 2009: A new white paper identifies how the current equity crisis is impacting the low-income housing tax credit program in Massachusetts and other states, and recommends 10 steps for making Massachusetts’ program most effective given the current challenges.
Caitlin Jones & A. J. Johnson • 8 min read
Tax Credit Advisor, February 2009: There’s no question it’s tougher today than a year ago to secure debt financing for proposed new low-income housing tax credit (LIHTC) projects. With equity at a shortage and the capital markets still in turmoil, each deal can be a trying experience.
Caitlin Jones & A. J. Johnson • 3 min read
Tax Credit Advisor, February 2009: The North Carolina Housing Finance Agency (NCHFA) in December made a large-scale exchange with developers of old credit awards for new, to try to help assure that proposed low-income housing tax credit (LIHTC) projects will actually be built.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor, February 2009: While most of the nation is mired in recession, unemployment, and foreclosures, Houston’s economy continues to surge forward.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor, February 2009: The Housing and Economic Recovery Act of 2008 (H.R. 3221), signed into law on July 30, 2008, made one change to the low-income housing tax credit (LIHTC) program that was somewhat surprising and unexpected. This was a “clarification” to the program’s general public use requirements.
Caitlin Jones & A. J. Johnson • 3 min read
Tax Credit Advisor, February 2009: IRS senior program analyst Grace Robertson clarified the applicability of the tax credit tenant income certification rules to existing projects that receive a new allocation of tax credits and are resyndicated, in comments during the recent HFA Institute conference in Washington, DC sponsored by the National Council of State Housing Agencies.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor, February 2009: Romero Rose LLC had always intended for the new Silver Gardens Apartments in downtown Albuquerque, NM to be a model of environmental responsibility.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor, February 2009: Different participants in the low-income housing tax credit (LIHTC) discussed the current state of the industry, the steps they are have taken or are taking, and their expectations and hopes for 2009, in comments at a recent conference in Washington, DC.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor, February 2009: The new, 111th Congress appears likely to approve at least some benefits for the beleaguered low-income housing tax credit industry as part of the economic stimulus bill working its way toward the desk of new President Obama.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: USDA’s Rural Development (RD) has issued an unnumbered letter that outlines the key principles to be followed by RD staff to underwrite multifamily housing revitalization transactions, including transfers of ownership transactions and Multifamily Portfolio Revitalization demonstration program deals.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: HUD is soliciting applications for roughly $9.5 million in grant funds, to be used to make emergency capital repairs to nonprofit-owned multifamily projects designated for occupancy by elderly tenants. Eligible projects are those assisted under HUD’s Section 8, 202, 221(d)(3), and 236 programs, and Rural Development Section 515 projects receiving Section 8 assistance.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor, January 2009: The U.S. Department of Housing and Urban Development (HUD) has published a notice regarding the applicability to HUD’s public housing and Section 8 tenant-based and project-based voucher programs of certain provisions of the recent Housing and Economic Recovery Act (HERA).