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.
Caitlin Jones & A. J. Johnson • 7 min read
Tax Credit Advisor April, 2006: State housing finance agency officials from New York, Florida, Illinois and South Carolina recently gathered to discuss how their HFAs have revised the allocation of federal housing tax credits in an effort to better manage strong developer demand for these subsidies.
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.