Tax Credit Advisor Article Archives

Michigan Approves 2008-2009 QAP

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The Michigan State Housing Development Authority on 12/6/07 adopted its 2008-2009 qualified allocation plan (QAP) for its low-income housing tax credit program.

New NMTC Funding Round to Open

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AS THE Tax Credit Advisor went to press in mid-December, the Community Development Financial Institutions (CDFI) Fund was about to open the next funding round for the federal new markets tax credit (NMTC).

Tax Credit Project Damaged by Fire During Construction Offers Lessons in Recovery, Transaction Structuring

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IN REAL ESTATE PROJECTS using federal tax credits, most eyes are focused on structuring the transaction, building the project, and setting up mechanisms to ensure adequate compliance during the recapture period.

HUD, ACHP Hold Event to Promote Compatibility of Historic Preservation and Affordable Housing

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THE U.S. DEPARTMENT OF Housing and Urban Development (HUD) and Advisory Council on Historic Preservation (ACHP) recently held a symposium to promote the idea that historic preservation can be compatible with the preservation of affordable housing.

Equity Market Rife With Uncertainties; Higher Yields, Lower Prices Seen in 2008

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DEVELOPERS SHOULD PREPARE FOR reduced low-income housing tax credit (LIHTC) prices in 2008, because of various factors that have created uncertainty in the equity market, according to participants interviewed by the Tax Credit Advisor.

AHIC Elects New Officers, Board Members

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Members of the Affordable Housing Investors Council (AHIC) elected new officers for 2008, and new board members, at their 2007 Annual Meeting in mid-October in Scottsdale, AZ.

Milwaukee’s Economy on the Grow; Strong Demand for Affordable Housing

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BOTH IN SUPPLY AND demand, Milwaukee continues to be a vibrant market for tax credit housing. Contrary to many other “Rust Belt” cities, Milwaukee appears to be on the grow from an increasing numbers of jobs and a resurgent economy.

Coalition Expects to Pursue Legislative Relief on Audit Issue

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AFTER AN UNSUCCESSFUL ATTEMPT to win regulatory relief from the U.S. Securities and Exchange Commission (SEC), a coalition of housing groups now expects to pursue passage of federal legislation to ease stricter new audit requirements for certain lowincome housing tax credit (LIHTC) partnerships.

HUD Lifts Previous Cap on Voucher Rents for Certain LIHTC Units

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THE U.S. Department on Housing and Urban Development (HUD) on 11/19/07 published a final rule in the Federal Register that lifts a previous limitation that restricted the HUD Section 8 project-based voucher rent to the low-income housing tax credit (LIHTC) rent for units assisted by vouchers and credits.

Affordable Housing: Prepare Early to Combine USDA Funding with Tax Credits

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THE U.S. DEPARTMENT OF AGRICULTURE’S Rural Development Office of Multi-Family Housing estimates that 4,250 Section 515 affordable rural housing properties “will physically deteriorate to the point of being unsafe or unsanitary within the next few years.”

New Study Warns Numerous Communities May Not See LIHTC Rent Increases for Years

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A NEW STUDY CONCLUDES THAT low-income housing tax credit (LIHTC) rents could stay flat for years in hundreds of communities across the U.S.

Tax-Exempt Debt, Housing Credits Allow Mixed-Finance Renovation of Small Public Housing Property

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THE USE OF HOUSING credits and a little-known Fannie Mae program is enabling a public housing agency in Jackson, TN, to fund the comprehensive rehabilitation of an older small public housing property for elderly and disabled residents.

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