Jessica Hoefer • 3 min read
On November 14, the Financial Accounting Standards Board’s (FASB) Emerging Issues Task Force (EITF) reached consensus on amendments to Generally Accepted Accounting Principles (GAAP) for accounting by investors in low-income housing tax credit (LIHTC) investments.
Jessica Hoefer • 5 min read
Through the creation of a different structuring model, Smith NMTC Associates, LLC (SNMTC) is making it possible for smaller projects to gain access to new markets tax credit (NMTC) financing by reducing initial and ongoing transaction costs. This “open capitalization” model can be used to fund qualified low-income community investments (QLICIs) as small as $500,000, rather than the usual industry minimum of $5 million.
Jessica Hoefer • 5 min read
Today’s low interest rates provide a window of opportunity for urban communities to take a bold step to increase the energy efficiency of their privately owned apartment buildings. Maturing 5- and 10-year mortgages can now be refinanced at interest rates that are 100 to 150 basis points lower, creating the potential for additional investments in these properties.