Making the Case for Preserving the LIHTC Program
The housing credit should be expanded, not "killed." Currently more than one in four renters pays more than half of their income on housing costs, and waiting lists for affordable housing are already years long—many aren't even open to new applicants, the backlog is so enormous. Without building more affordable housing with the housing credit, these problems will only grow worse.
Work on Pittsburgh 'Highline' at Historic Terminal Gets Boost from $15M Tax Credits
A local developer has been awarded $15 million in new markets tax credits to help finance a major overhaul of a historic cargo warehouse on the South Side. Pennsylvania Housing Finance Agency and the Urban Redevelopment Authority supported the effort to secure the tax credits.
IL Angel Investor Tax Credit Signed Into Law
The credit gives investors into early-stage companies the chance to take a credit of 25 percent on an investment of at least $10,000 in small businesses that have to have fewer than 100 employees and, for the most part, be in innovation or technology work.
Modernizing State Historic Preservation Tax Credits
Typically, state-level historic preservation credits are based primarily on the federal tax credit. States that have enacted similar credits but tailor the requirements to their own needs by broadening or decreasing eligibility and amounts.
$1.7B MA Housing Bond to Include Tax Credit Extensions
A $1.7 billion long-term spending bill for housing in Massachusetts is expected to be released by the Housing Committee, and will likely include extensions of a number of tax credit programs for low-income housing and brownfield redevelopment.
Move America Act Would Expand PABs for Infrastructure
The Move America Act of 2017, introduced by Sens. Ron Wyden (D-OR) and John Hoeven (R-ND) would expand tax-exempt private activity bonds and create a new infrastructure tax credit, to help finance infrastructure projects through private-public partnerships.
Novogradac Awards Demonstrate Flexibility of Historic Tax Credit
The Novogradac Journal of Tax Credits has announced the recipients of the 2017 Historic Rehabilitation Awards, which recognize historic rehabilitation development teams for exceptional and creative use of the historic tax credit (HTC). Winners will be honored Sept. 28 at the Novogradac Historic Tax Credit Conference in Denver.
Creative Solutions to CA's Affordable Housing Crisis
Financing for the $18.9-million development includes of $3.6 million in HOME Funds provided by the City of Garden Grove through HUD and a Housing Authority Loan, $4.8 million in permanent financing from the California Community Reinvestment Corporation and $7.449 million tax credit equity invested by Boston Financial Investment Management.
Historical Tax Credit Uncertainty Halts Redevelopment Projects in WI
Gov. Walker wants to put a $10 million cap on the credits and add a provision that would take way any credits promised to a developer if certain job requirements aren't met. Uncertainty has already halted two projects in Green Bay.
AZ Legislation Funds Angel Investment Tax Credit and More
While there were several individual wins including the funding of the Angel Investment Tax Credit (HB2191), one bill stood out. SB1416, referred to as "The Quality Jobs Bill." The bill, which gives individual private-equity investors state credits on qualifying investments, was signed into law this spring.