Jessica Hoefer Author Archives
Tax Court Rules on Including Construction Period Finance Costs in LIHTC Basis
In the 23rd Chelsea Associates case, the U.S. Tax Court ruled that an appropriate share of finance costs attributable to the construction period of the affordable housing part of a project can be included in tax credit basis.
Merchants Capital Provides $103 Million+ in Total Financing for the Rehabilitation of Woodlawn
Merchants Capital’s Chicago office announced that it provided more than $54 million of debt and $49 million in LIHTC equity financing for the rehabilitation of Island Terrace, a 21-story affordable apartment complex located across from the Obama Presidential Center in Chicago’s Woodlawn neighborhood. Preservation of Affordable Housing, Inc. closed the complex financing structure on Dec. 20, 2023.
DOE Publishes Rebate/LIHTC Case Study
The Department of Energy (DOE) published a new case study on Using Whole Home Energy Rebates to Preserve Affordable Multifamily.
Merchants Capital New York Provides $1.7 Billion in 2023 Financing, Surpassing 2022 Office Record
Merchants Capital’s New York office announced a total production volume of $1.7 billion for 2023, surpassing its record-breaking $1.3 billion debt production volume in 2022.
Proposals for HUD’s Innovative Housing Showcase Exhibitors Due March 29
HUD issued a notice requesting proposals from exhibitors to showcase innovations for the Innovative Housing Showcase in June of this year in Washington, DC.
Housing North Carolina Nominations Due April 1
The NC Housing Finance Agency’s 35th annual Housing NC Awards will once again be featured at a special luncheon during the NC Affordable Housing Conference at the Raleigh Convention Center on September 5.
Newmark Lands Leading National Affordable Housing Advisory Team
Newmark Group, Inc. announced it has hired the team formerly with Affordable Housing Advisors (AHA) – a leading brokerage team and platform previously housed out of Marcus & Millichap.
Freddie Mac Requires Multifamily Underwriting Appraisal Checklist
Effective March 4, Freddie Mac underwriters requires a new compliance checklist for the initial appraisal submitted to Freddie Mac for each loan/property.
Ohio Opens 2024 Nine Percent LIHTC Round
The Ohio Housing Finance Agency posted the 2024 nine percent LIHTC Affordable Housing Funding application and all related materials on its website. If you have any questions, please email [email protected].
Pennrose Completes 2,500 Affordable Homes in Maryland
Pennrose is proud to celebrate over 20 years of affordable housing development and management in Maryland with the completion of the Cherry Hill Senior Manor rehabilitation.
NLIHC Publishes 2024 Advocates’ Guide
The National Low Income Housing Coalition released the Advocates’ Guide 2024: A Primer on Federal Affordable Housing and Community Development Programs and Policies.
Groups Launch New, Online Decarbonization Resource Hub
Enterprise Community Partners, Housing Partnership Network, and the Rocky Mountain Institute launched the Affordable Housing Decarbonization Hub, a digital space offering housing providers access to resources and information to pursue equitable decarbonization.