General News

New York City Mayor Bill de Blasio has announced a major expansion to the City’s affordable housing plan.   The administration is on track to build and protect 200,000 affordable homes by 2022, two years ahead of schedule. With the addition of new tools, programs and funding, the City will ramp up to securing 25,000 affordable […]

HUD has revised the effective date for designations of “Difficult Development Areas” (DDAs) and “Qualified Census Tracts” (QCTs) for purposes of the Low-Income Housing Tax Credit (LIHTC) approved for Federal disaster-related individual assistance. This Notice extends from 730 days to 850 days the period for which the 2015 lists of QCTs and DDAs are effective […]

Several civil rights organizations have filed a lawsuit in federal court challenging HUD’s decision to suspend the implementation of the Small Area Fair Market Rent rule, which was adopted in November 2016 and suspended earlier this year.  It is unclear at this juncture how the case will proceed. Five organizations – the NAACP Legal Defense […]

The National Park Services has published its “Annual Report on the Economic Impact of the Federal Historic Tax Credit for Fiscal Year 2016.”  The report, which is produced by Rutgers University with assistance from the National Trust Community Investment Corporation—provides a quantitative analysis of the success of the federal historic tax credit (HTC). Key findings […]

HUD has issued a notice that permits Public Housing Authorities (PHAs) that are in Presidentially declared disaster areas to request an extension to the due date for making submissions if they meet either of the following qualifications: a) have submitted Letters of Interest (LOI) to reserve their position on the Rental Assistance Demonstration (RAD) waiting […]

CohnReznick recently released the sixth installment of an ongoing report, Housing Tax Credit Investments: High Performance and Increased Need. The report surveys a portfolio of over 22,000 LIHTC properties and the numbers this year show the best performance recorded over the 31 year history of the LIHTC program.

As anticipated, Republican leadership released a tax reform framework intended to guide House and Senate tax writing committees in their drafting of tax reform legislation. The framework does not explicitly preserve the historic tax credit and envisions that most business tax credits will be repealed in order to achieve a 20% corporate tax rate.

Thanks to generous support from HAI Group, the National Housing Preservation Database has a completely redesigned user interface, updated current data, and new property and neighborhood data.

Registration is now open!

While the 9-page “Unified Framework For Fixing Our Broken Tax Code” is silent on many critical details, one key feature is a 20% corporate tax rate. This lower rate potentially creates two snags for the tax-incentivized real estate industry.

California’s State Legislature recently passed Senate Bills 2, 3, and 35 all related to affordable housing.

CohnReznick found that housing tax credit properties are operating better than any period in the program’s history.