By Caitlin Jones & A. J. Johnson
Tax Credit Advisor July, 2006: Nearly two-thirds of state housing credit agencies (HCAs) responding to a recent survey have committed all or nearly all of their 2006 low-income housing tax credits. More than a third have awarded some 2007 housing credits, and a number of states have begun work on their 2007 credit program plans and schedules.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor July, 2006: An obscure appropriations act provision offers opportunities for new, different, and multiple-property affordable housing transactions, including using the low-income housing tax credit.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor July, 2006: Mixed-use development can pose many challenges. Those challenges typically begin with the complexity and high cost of these projects, and their long timelines. There is also the pressure to bring in commercial as well as residential tenants, and the special issues of addressing the needs of a multitude of different stakeholders.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor July, 2006: Efforts to win new legislative amendments to the low-income housing tax credit program appear poised for a boost in the U.S. Senate, but the odds for enactment this year are long, according to industry and congressional sources.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor July, 2006: In two important recent victories for preservationists and developers, the legislatures of Connecticut and Massachusetts have significantly broadened their states’ historic tax credit.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor July, 2006: Florida Gov. Jeb Bush recently signed into law legislation that adds $271 million in new affordable housing funding, including money for an innovative program to expand workforce housing. House Bill No. 1363 also provides for a novel approach to the donation of land for affordable housing.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor July, 2006: The Community Development Financial Institutions (CDFI) Fund and Internal Revenue Service have provided guidance on the designation of targeted populations under the New Markets Tax Credit program. The guidance includes a special designation in the Hurricane Katrina Gulf Opportunity (GO) Zone.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor June, 2006: Nonprofit organizations developing low-income housing tax credit projects should now have an easier time obtaining determinations of tax-exempt status from the Internal Revenue Service.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor June, 2006: The federal historic tax credit has generated a high volume of construction and permanent jobs, tax revenues, and other economic benefits, according to a new study by the National Trust for Historic Preservation and Rutgers University.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor June, 2006: Mixed-income housing has become a frequent topic in discussions of the federal low-income housing tax credit (LIHTC), as state and local allocating agencies seek to promote income diversity.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor June, 2006: The following summarizes the criteria IRS agents will look for in applications for tax-exempt status by nonprofits proposing to develop low-income housing credit projects, under the new IRS memo.
By Caitlin Jones & A. J. Johnson
Tax Credit Advisor June, 2006: Despite a worrisome trend towards increased risk and reduced yield, investment in housing tax credit equity still makes sense if the underlying property has strong fundamentals and adequate protections are in place, a group of investors concluded. The investors spoke in March at a panel held during the National Housing & Rehabilitation Association’s annual meeting in Miami Beach, Fla.