News & Analysis as of

LIHTC

Baltimore’s Homeless Youth: The Cost of Eliminating the Low-Income Housing Tax Credit Market

by Miles & Stockbridge P.C. on

The Low-Income Housing Tax Credit (“LIHTC”) is one of the most important resources for creating affordable housing in the United States today. Created by the Tax Reform Act of 1986, the LIHTC program gives State and local...more

Property Tax & Valuation Topics - Spring 2017

by Pullman & Comley, LLC on

Momentous LIHTC Decision Does Not Materialize - In the Winter 2017 issue of Property Tax and Valuation Topics, we projected that the Connecticut Supreme Court’s anticipated ruling in Nutmeg Housing Development...more

Ballard Spahr and CSG Advisors Host Another Informative Western Housing Conference

by Ballard Spahr LLP on

Last week, Ballard Spahr in conjunction with CSG Advisors hosted its 7th Annual Western Housing Conference in Phoenix, Arizona. The Conference brought together a wide range of public and private housing professionals...more

Regulatory comments due in March & other housing news updates

by Ballard Spahr LLP on

Comments on the following HUD and housing related guidance are due this month. HOTMA implementation for Section 8 Voucher Programs – Due March 20, 2017 - On January 18, 2017, HUD issued a proposed rule to implement...more

West Coast Real Estate Update: January 2017

by Holland & Knight LLP on

Proposed Landmark Rules Could Make LA Redevelopment More Difficult - Los Angeles City Council Member Jose Huizar has proposed a new set of rules that could make it more difficult for owners of historic properties in Los...more

HUD Publishes Further Revisions to RAD Notice

by Ballard Spahr LLP on

In an announcement on January 12th, the U.S. Department of Housing and Urban Development (HUD) published a significant third revision to the Rental Assistance Demonstration (RAD) Notice (PIH 2012-32/ H 2017-03 Rev-3)....more

Reaction to Uncertainty in Affordable Housing Industry Brought on by Trump Election

The 2016 Election has created more questions than answers for the affordable housing industry. Very little is known about President-elect Trump's vision for affordable housing. On one hand, Mr. Trump has described himself as...more

Legislative Opportunities for Tribal Governments Under the Trump Administration

by Holland & Knight LLP on

With the advent of a Republican-controlled White House and Congress, many who work in Washington, D.C., on behalf of Indian tribes may be tempted to adopt a defensive posture. But while it always is important to defend tribal...more

Reminder: Comments to revised RAD forms due October 28th and RAD Report out for review

by Ballard Spahr LLP on

On September 28, 2016, HUD published a notice in the Federal Register to solicit comments to revised form documents used in the Rental Assistance Demonstration (“RAD”). This notice follows a 60-day comment period on...more

Valuation of affordable housing projects in bankruptcy – a muddied landscape

by Thompson Coburn LLP on

Just when courts appeared to be developing a consensus on how to value affordable housing projects in bankruptcy, an opinion from the 9th Circuit Court of Appeals has muddied the landscape. In In re Sunnyslope Housing Ltd....more

District Court Dismisses Disparate Impact Claims in Texas

by Ballard Spahr LLP on

After several years of litigation, the U.S. District Court for the Northern District of Texas recently dismissed disparate impact claims filed against the Texas Department of Housing and Community Affairs (TDHCA) in the fair...more

District Court Dismisses Disparate Impact Claim of Inclusive Communities

by Ballard Spahr LLP on

A federal court in Texas recently dismissed a housing discrimination claim that was based on alleged disparate impact under the Fair Housing Act (FHA), the latest in a series of decisions applying landmark U.S. Supreme Court...more

Northern Texas District Court Dismisses Fair Housing Disparate Impact Claim

by Ballard Spahr LLP on

A federal court in Texas recently dismissed a housing discrimination claim that was based on alleged disparate impact under the Fair Housing Act (FHA), the latest in a series of decisions applying landmark U.S. Supreme Court...more

Emerging Trends in Tax Credit Finance: Expansion of Renewable, Development, Housing Programs

by Stinson Leonard Street on

On December 18, 2015, the landscape improved for individuals and businesses looking to invest in affordable housing, economic development and renewable energy projects. Congress passed and the President signed into law the...more

Sale of LIHTC Project Does Not Generate UBTI or Excess Business Holdings

by Miles & Stockbridge P.C. on

The IRS recently ruled that a private foundation’s proposed acquisition of 100% of a low-income housing project would not subject the foundation to either excess business holdings tax or unrelated business income tax. See PLR...more

Early Analysis of New Partnership Audit Rules’ Impact on LIHTC Transactions

by Holland & Knight LLP on

The Bipartisan Budget Act of 2015 (P.L. 114-74) was signed into law on Nov. 2, 2015. The Act includes a complete overhaul of the procedures that apply to Internal Revenue Service (IRS) audits of partnerships, including...more

PBV Selection Issues: Previous Competition and PHA-Owned Units

by Pepper Hamilton LLP on

Two of the most troublesome aspects of selecting project-based voucher proposals have been selection based on previous competition and selection of public housing agency-owned units. Originally published in the...more

P3s: Managing Risks and Rewards

by Thompson Coburn LLP on

Overview - Successful P3s—Public-Private Partnerships—can be blessings for state and local governments searching for new ways to finance many types of critical “infrastructure”—roads, schools, prisons, and more—and...more

Bill introduced in Senate to create permanent LIHTC rate floors

by Ballard Spahr LLP on

On May 5, 2015, Senators Maria Cantwell (D-WA) and Pat Roberts (R-KS) introduced the “Improving the Low-Income Housing Tax Credit Rate Act” (S. 1193), which would create a permanent 9% minimum low-income housing tax credit...more

Reinstatement of a LIHTC LURA following foreclosure

by Thompson Coburn LLP on

Note: This post is the final part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

LIHTC exit strategies: Foreclosure

by Thompson Coburn LLP on

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

LIHTC exit strategies: Right-sizing the loan

by Thompson Coburn LLP on

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects...more

LIHTC exit strategies: Loan sale

by Thompson Coburn LLP on

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

Sort Through Affordable Housing Development Acronyms

by Pepper Hamilton LLP on

Real estate developers looking to enter the affordable housing marketplace are familiar with the acronym “LIHTC” (low-income housing tax credit), but may be wondering how one works with a public housing agency (PHA) to obtain...more

Prepayment of tax-exempt bonds in connection with the sale of a multifamily housing project

by Ballard Spahr LLP on

In the last few years, we have seen an increase in the number of multifamily housing projects being sold at the completion of the 15-year low-income housing tax credit compliance period. Strong rental demand in many areas of...more

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