The U.S. Department of Housing and Urban Development has announced its intention to sell certain unsubsidized multifamily and healthcare mortgage loans, without Federal Housing Administration (FHA) insurance, in a competitive, sealed bid sale.
The U.S. Senate Finance Committee on January 23 released a draft of its own version of the tax component of the economic stimulus bill (the “Chairman’s Mark”) that the committee is scheduled to mark up on January 27. The House Appropriations and Ways and Means Committees have already marked up and approved the spending and tax portions of the House version of the stimulus bill (American Recovery and Reinvestment Act of 2009). The full House could vote on the package next week.
Tax Credit Advisor February, 2006: Investor resistance has taken the steam out of tax-credit equity price increases, according to syndicators interviewed in late January. Some syndicators said this was evidence that a peak has at last been reached in prices after more than a year of sharp increases. Others disagreed.
President-elect Barack Obama has named some key appointments to White House staff and agency transition review teams with connections to housing.
Even in small, rural towns like Mount Airy, NC, the shortage of affordable housing for low-income residents is a pressing issue. In Mount Airy, the issue was addressed and solved, according to developer Jim Sari, of The Landmark Group, based in Winston-Salem, NC, through the conversion of a vacant historic former tobacco warehouse into apartments using a combination of state and federal low-income housing tax credits and historic tax credits.
Communities, LLC (UHC). Half of its 80 apartments are targeted to retired low-incThe Southern California desert city of Indio has seen its first new affordable housing development in more than a decade, thanks in part to the low-income housing tax credit. The new project, called Horizons at Indio, was developed by Santa Ana, CA-based United Housingome farm workers, who spent their lives picking crops or working other agricultural jobs throughout the Coachella Valley.
Compliance is the heart and soul of the federal low-income housing tax credit (LIHTC) program. But then you must run the property in strict compliance with the program’s many rules. Otherwise, your investors risk the possible loss of tax credits. So what are some of the most common compliance mistakes made? And what are the elements for an effective compliance system and strategy for a property?
In addition to amendments pertaining to low-income housing and historic tax credits and tax-exempt housing bonds, the newly enacted housing law contains a number of other provisions affecting affordable housing.
Chicago is a vibrant market for affordable housing, with limited supply and high demand. A slowing economy is likely to increase demand for Chicago’s affordable rental housing inventory, but lenders and city officials are generally optimistic that supply will keep up with demand.
Ground that once soaked up gasoline and diesel fuel has now been transformed into affordable housing for 100 families in the Bronx, NY neighborhood of Morris Park, thanks to federal low-income housing tax credits, state tax abatements, and a brownfield tax incentive.
The Local Initiatives Support Corporation (LISC) has announced the release of a new, 58-page publication designed to assist developers and others in integrating green building and energy efficiency into the rehabilitation of existing affordable rental housing properties.
Two major trends are prevalent today in low-income housing tax credit (LIHTC) production – preservation and “green” development. This article will focus on “green” or “sustainable” development and how it can benefit tax credit developers and project residents.