Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor June, 2006: Tax credit apartment projects are increasingly going “green.” A key part of this trend is the selective adaptation to multifamily housing of building features and techniques used in developing environmentally-friendly single-family homes.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor June, 2006: State allocators in California, New Mexico, and Washington are taking different approaches to address rising project costs in their low-income housing tax credit application cycles. These include varied kinds of cost limits, greater encouragement of “green” building characteristics, and more reliance on other subsidies.
Caitlin Jones & A. J. Johnson • 3 min read
Tax Credit Advisor May, 2006: In a follow-up interview with Tax Credit Advisor, Adam Galowitz of Recapitalization Advisors assessed the growing volume of properties approaching the Year 15 deadline, and the expanding list of states providing guidance on qualified contracts.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor May, 2006: As housing tax credit developers approach the end of their properties’ initial 15-year compliance period, they should be wary of requesting qualified contracts in order to opt out of extended use agreements, a panel of experts warned.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor May, 2006: With long-term interest rates on the rise, the tax-credit fund marketplace has reached a clear turning point – syndicators have stopped reducing fund yields. But when tax credit equity prices will also come to rest is still an open question, syndicators say.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor May, 2006: Anticipated private-sector investment in historic tax credit properties was $3.13 billion in FY2005, down 19 percent from the record pace of 2004, according to an annual report recently published by the National Park Service.
Caitlin Jones & A. J. Johnson • 2 min read
Tax Credit Advisor May, 2006: The economic benefit of multifamily housing to local governments far outpaces its costs, according to a recent study from the National Association of Home Builders.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor May, 2006: Increasingly, historic rehabilitation projects are funded with a combination of New Markets (NMTCs) and Historic Tax Credits (HRTCs). But as these deals have become more commonplace, they have also grown more complex, with developers striving to combine NMTCs and HRTCs in creative ways to help finance projects that might not have otherwise been economically feasible.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor May, 2006: Green building can generate a profit for developers who plan their projects carefully, according to a panel of executives from firms specializing in environmentally friendly properties.
Caitlin Jones & A. J. Johnson • 5 min read
Tax Credit Advisor May, 2006: After years of skepticism from tax-credit investors, syndicators, and developers, short-term variable-rate debt, also known as “floaters,” is finally gaining acceptance. One of the main reasons for this, according to a panel of bond experts, is the growing use of derivatives to hedge floaters’ interest rate risk.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor April, 2006: CDFI Fund Director Art Garcia has provided the first official breakdown of investments made as a result of New Markets Tax Credit (NMTC) allocations. Speaking before the National Housing & Rehabilitation Association’s (NH&RA) New Markets Tax Credit Symposium held last month in Miami Beach, Fla., he also provided data on how quickly these investments have been put to work.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor April, 2006: Buoyed by sound fundamentals, apartment rental housing is poised for a strong year in 2006, according to Mark Obrinsky, chief economist for the National Multi Housing Council.