Thom Amdur Author Archives

The Novogradac Low-Income Housing Tax Credit Showcase, released in January to commemorate the 30th anniversary of the federal drive to encourage affordable housing, shows the LIHTC program in action by profiling 72 LIHTC developments in 34 states and territories.

At 30 years old, the Low-Income Housing Tax Credit has never looked better according to CohnReznick. The Low-Income Housing Tax Credit Program at Year 30: Recent Investment Performance (2013-2014), the national accounting firm’s look back at the performance of LIHTC properties over the program’s lifetime, as well as at recent trends across the portfolio, delivers good news to both for-profit and non-profit multifamily developers, as well as those who invest in their projects.

In a little less than 11 months there will be a new President of the United States. With the full attention of the political blognescenti on the increasingly raucous Democratic and Republican primaries, it can be easy to ignore that the current Congress and President must still govern. With that in mind, on February 10th President Obama released his Fiscal-Year 2017 budget proposal.

IRS published in today’s Federal Registrar two sets of regulations that will facilitate the ability of owners of LIHTC properties to use a consumption-based utility allowance at properties that are either submetered or generate and sell energy using on site renewables.

“I tried to talk my father out of it,” recalls USA Properties Fund President Geoff Brown when his father came up with the idea to start the company. Today, USA Properties is one of the largest affordable community developer-builder-managers in the West, with more than 85 communities and 12,500 units in California and Nevada.

Projects applying for 9% tax credits that intend to claim preservation points in the 2017 QAP must participate in a mandatory technical assistance meeting with Minnesota Housing staff and submit a preservation pre-application.

MInnesota posted important deadlines and early documents for its upcoming Multifamily and Housing Tax Credit funding rounds. A new senior housing pilot and Section 811 funding are part of the Multifamily RFP.

he Authority commissioned state-wide utility allowances have been completed and are now available for use on existing and future Tax Credit and HOME developments.

The two partners are calling for a team of service providers to work with a development team to build approximately 25 housing first units in the community. IHFA has up to $5.75 million in Low Income Housing Tax Credits available under its special housing needs set aside to fund the project. The City of Boise will contribute up to $1 million in one-time money to augment acquisition and construction costs for the winning proposal.

The Montana Board of Housing posted a draft of the 2017 Qualified Allocation Plan.

Colorado Housing Finance Authority announced that it will reduce the mortgage insurance premium for multifamily loans using the CHFA 542(c) Risk Share 50/50 program to 12.5 basis points, from 25 basis points.

Conifer Realty announced that Patricia Denny has been promoted from Senior Asset Manager to Director of Asset Management, effective immediately. Patti joined Conifer in 2012 and has lead the development of Asset Management since it was a brand new Conifer function.