Caitlin Jones & A. J. Johnson • 4 min read
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.
Caitlin Jones & A. J. Johnson • 8 min read
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.
Caitlin Jones & A. J. Johnson • 2 min read
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.
Caitlin Jones & A. J. Johnson • 7 min read
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.
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.