Tax Credit Advisor Article Archives

Virginia residents who want to work for Fairfax County or make their views known on matters pending before the county government now may not have far to go, thanks to a Low Income Housing Tax Credit project being developed by Lincoln Avenue Communities on an underused parking lot at the county Government Center using an innovative “quadruplet” structure.

The National Housing Crisis Task Force issued a broad swath of policy recommendations for the new administration to address the nation’s housing crisis, including calling for the federal government to “fundamentally restructure” its organization to address the problem and provide billions to rehabilitate existing subsidized affordable housing stock.

By many accounts, 2024 was a challenging year within the affordable housing industry. Multi-year difficulties, such as inflationary pressure, supply chain disruptions and environmental burdens persisted, while fresh hurdles like rapidly rising insurance rates began to take hold.

The New Markets Tax Credit (NMTC) program’s most obvious impact on affordable housing is through financing construction projects with at least 20 percent of revenue from commercial activity.

Peter Bell, president and CEO, National Housing & Rehabilitation Association spoke with Russ Condas, senior vice president of development at Lincoln Avenue Communities, about key opportunities for Lincoln Avenue, implementing Solar for All and dealing with insurance challenges.

When the CTA went into effect on Jan. 1, 2024, both newly formed and previously established companies, large and small (but mainly small) were to provide certain information to FinCEN detailing: 1) “Beneficial Ownership” and 2) “Company Applicants.”

MassHousing will launch a preferred equity product this month designed to move shovel-ready projects forward that have stalled economically.

In recent years, developers have turned to the centuries-old concept of ground leases as a powerful tool in the contemporary struggle to pencil deals and close increasingly wide funding gaps.

Dominating all policy headlines this year will be the tax bill as legislators seek to extend the expiring tax cuts from the Tax Cuts and Jobs Act (TCJA) before increases go into effect in 2026. Senate confirmations, congressional spending and addressing the debt limit are the other must-do items on the list, which will likely happen in the first half of the year.  

A new crop of digital community engagement tools is giving developers an avenue to bring resident voices into the planning process without requiring attendance at long public meetings.

Sindy Spivac, the West Region Market executive for Bank of America’s Community Development Banking Division, spoke with Caleb Roope, president and CEO of The Pacific Companies about overseeing multiple interrelated companies in the areas of development, finance, architecture, construction and property ownership

Over the past decade, few segments of the population have felt the squeeze of the country’s affordable housing crisis as acutely as middle-income households earning between 60 and 120 percent of the area median income. Earning too much to qualify for most government-subsidized housing programs but too little to afford the majority of new housing stock entering the market, these renters are finding themselves less and less able to secure high-quality housing within their means.