Caitlin Jones • 1 min read
Tax Credit Advisor, February 2011: For developer Bob Greer and The Michaels Organization, the past year has been a period of multiple awards and positive recognition.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: Developers and investors need to be careful as they prepare to unwind their existing federal historic tax credit transactions, particularly if the deal also has other types of federal tax credits, speakers said at a recent Washington, D.C. conference held by the Institute for Professional and Executive Development.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: In Citrus Heights, Calif., a city near Sacramento, affordable housing developer USA Properties Fund, Inc. has completed the conversion of a low-income housing tax credit (LIHTC) property to renewable solar power, in a step expected to help the company shape a future solar strategy for its entire portfolio.
Caitlin Jones • 1 min read
Tax Credit Advisors, January 2011: Some developers are putting the pedal to the metal when it comes to green building – aiming for “net zero” in designing and constructing new affordable multifamily housing projects.</p
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: A bipartisan panel appointed by Missouri Gov. Jay Nixon has recommended sweeping changes to the state’s tax credit programs, to make them more efficient and cut their cost.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: At least two recipients of federal Capital Magnet Fund program grants plan to use the dollars to support low-income housing tax credit (LIHTC) projects under initiatives rolled out in 2011.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: Congress passed a major tax cut plan containing “extenders,” and was deciding how to fund the federal government into 2011, as the Tax Credit Advisor went to press in mid-December.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: The federal new markets tax credit is enabling the National Dance Institute to create a permanent home for itself and for a new educational and cultural center in a completed development in New York City.
Caitlin Jones • 1 min read
Tax Credit Advisor, January 2011: Partnering with transit agencies has been key to Matthew Greer’s success in developing transit-oriented affordable rental housing projects in South Florida.
Caitlin Jones • 2 min read
By Harry J. Kelly, Nixon Peabody LLP
Tax Credit Advisor, December 2010: For years, developers and investors have known that in order to qualify for low income housing tax credits (“LIHTCs”), owners have to show that their units are “available to the general public.” According to Treasury Reg. ¤1.42-9(a), this means that, among other things, the units must be rented in a manner that is consistent with HUD rules implementing the Fair Housing Act (“FHAct”).
Caitlin Jones • 2 min read
Tax Credit Advisor, December 2010: With funding gaps for new tax credit projects quite common, state tax credits are more important than ever in providing the extra juice to get deals to closing. But state tax credits vary widely in their structure and appeal to developers and investors, with significant pricing differences that greatly alter the amount of equity that they generate for real estate projects.
Caitlin Jones • 1 min read
Tax Credit Advisor, December 2010: Two years after its launch by the U.S. Department of Housing and Urban Development (HUD), so-called Lean Processing of Federal Housing Administration (FHA) Section 232 health care mortgages has produced a number of benefits. But a large backlog of pending applications is preventing this initiative from reaching its full potential.