Caitlin Jones & A. J. Johnson • 5 min read
Tax Credit Advisor April, 2006: Harvard University’s Joint Center for Housing Studies has released an unusually detailed analysis of the nation’s shrinking inventory of affordable rental housing.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor April, 2006: Performing careful due diligence and budgeting with historic adaptive-reuse projects can save considerable time and money, according to Tom Capp, executive vice president at Madison, Wisc.-based Gorman & Co.
Caitlin Jones & A. J. Johnson • 9 min read
Tax Credit Advisor April, 2006: Tax-credit developers are realizing that using variable-rate debt can yield big savings, particularly during the construction period. But they are also learning that these loans demand very careful handling when extended over the entire compliance period.
Caitlin Jones & A. J. Johnson • 5 min read
Tax Credit Advisor March, 2006: In a significant program change that could help preserve many aging rural affordable apartments, the Rural Housing Service (RHS) is permitting owners who have funded properties with Section 515 loans to rehabilitate those properties using Section 538 loans.
Caitlin Jones & A. J. Johnson • 6 min read
Tax Credit Advisor March, 2006: Recently implemented federal audit guidelines for public companies could sharply increase the cost of auditing properties funded with Low Income Housing Tax Credits (LIHTCs).
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor March, 2006: Fannie Mae, currently the largest single investor in Low Income Housing Tax Credits, plans to begin selling selected LIHTC investments in 2006 as well as making additional purchases, according to Ed Neill, vice president for Multifamily Affordable Housing.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor March, 2006: The Community Development Financial Institutions Fund has added $600 million in New Markets Tax Credits (NMTCs) to its current allocation round, acting quickly after Congress passed legislation at the end of 2005 to authorize $1 billion in new NMTCs to help rebuild communities devastated by Hurricane Katrina.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor March, 2006: For developers, large mixed-use projects pose special challenges. These challenges become even more daunting when the projects involve an adaptive reuse funded with Historic Rehabilitation Tax Credits (HRTCs).
Caitlin Jones & A. J. Johnson • 9 min read
Tax Credit Advisor March, 2006: While the Federal Home Loan Bank System’s Affordable Housing Program (AHP) has been used with some success in combination with the Section 42 Program, it has not been a well-known or often-used adjunct to tax credit developments. However, a recent proposed rule of the Federal Housing Finance Board published in the Federal Register on December 28, 2005 would make the program more user-friendly for tax-credit developers.
Caitlin Jones & A. J. Johnson • 11 min read
Tax Credit Advisor February, 2006: Investor resistance has taken the steam out of tax-credit equity price increases, according to syndicators interviewed in late January. Some syndicators said this was evidence that a peak has at last been reached in prices after more than a year of sharp increases. Others disagreed.
Caitlin Jones & A. J. Johnson • 4 min read
Tax Credit Advisor February, 2006: New Markets Tax Credit proponents have high hopes that when Congress passes tax reconciliation legislation, it will include a provision that would extend the NMTC program through 2008.
Caitlin Jones & A. J. Johnson • 1 min read
Tax Credit Advisor February, 2006: For rehabilitation projects involving more than one certified historic structure where the structures are judged by the Secretary to have been functionally related historically to serve an overall purpose, such as a mill complex or a residence and carriage house, rehabilitation certification will be issued on the merits of the overall project rather than for each structure or individual component.