Thom Amdur Author Archives

A report from the Senate Finance Committee Community Development & Infrastructure Bipartisan Tax Working Group estimated expenditures for the historic tax credit, low-income housing tax credit, and new markets tax credit for fiscal years 2014-2018. The report is meant to inform the committee’s discussions on tax reform. The report did not make any recommendations regarding the tax credit programs.

Wishrock Housing and Investment Group, a national developer and investor in affordable housing, announced the appointment of Trisha Miller, a leader in the energy efficiency and green building movement, as Director of Sustainability.

The Obama Administration announced a new solar initiative to increase access to solar energy, including low- and moderate- income communities, and expand opportunities join the solar workforce. Among several key components, the initiative aims to install 300 megawatts of renewable energy in federally-subsidized housing.

Boston Capital is investing in the rehabilitation of Court Street Veterans Housing, a 97-unit apartment community serving formerly homeless and at-risk veterans in Boston, Massachusetts. Court Street Veterans Housing will be rehabilitated in part with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program.

The Treasury Department and the Internal Revenue Service released performance and quality standards that small wind energy property must meet to qualify for the renewable energy investment tax credit (ITC) or production tax credit (PTC).

The U.S. House of Representatives passed a bill that would help leverage private investment to fund upgrades to water and energy systems in aging HUD-assisted housing. The bill will go next to the Senate for consideration.

The U.S. Department of Housing and Urban Development announced a Small Building Risk Sharing Initiative, which aims to facilitate the financing of small multifamily properties. HUD is looking for both “Mission Based Lenders,” including Community Development Finance Institutions (CDFIs), other nonprofit lenders, public and quasipublic agenices, and “Private Lenders” that are approved as FHA MAP Lenders to participate in the program as Qualified Sharing Program Entities (QPEs).

Lancaster Pollard announced a new leadership team. Nick Gesue, previously senior vice president and chief credit officer with Lancaster Pollard, has been named CEO and Kass Matt, most recently a managing director with the firm, has been named president of Lancaster Pollard Holdings Company, LLC.

City Real Estate Advisors announced the closing of CREA Corporate Tax Credit Fund 43, LLC. The fund raised a total of $238.6 in capital from 13 investors.

Woda Group, Inc. plans to build Grand View Place, a 68-unit affordable housing development, using Low-Income Housing Tax Credits from the Michigan State Housing Development Authority.

Senate bill (S. 1795) and House bill (H.R. 3110) aim to provide tax relief to communities hit by natural disaster between 2012 and 2015. Provisions include an increased allocation of housing credits and the opportunity to compete for an additional allocation of New Markets Tax Credits.

The Community Development Financial Institutions Fund (CDFI Fund) has released New Markets Tax Credit Program (NMTC Program) eligibility data for 2010 census tracts in the Island Areas of the United States (American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands).