Fannie Mae to Invest in LIHTC Funds
Fannie Mae has committed up to $145 million for investments in three low-income housing tax credit (LIHTC) funds that will focus on underserved markets in rural areas. The investment is part of Fannie Mae's ongoing commitment to provide a reliable source of capital for affordable rental housing in underserved markets.
CA LIHTC Deal Utilizes Income-Averaging Option
Because the project is so large, it took shifting 50 units from 60% to 50% of the AMI to move the average affordability several percentage points, which Eden Housing saw as a positive risk mitigant. The overall project, including the acquisition of the developments, is estimated to cost approximately $97 million, with the rehab work estimated at about $26 million.
Kroger Announces $15M NMTC Allocation for Atlanta, GA Food Bank
The $15 million NMTC allocation aligns with The Kroger Co.'s national Zero Hunger | Zero Waste initiative. Through the social impact plan, Kroger has set a vision to end hunger in the places it calls home and to eliminate waste – especially food waste – in the company by 2025.
The Impact of Tax Reform on the Federal Historic Tax Credit One Year Later
One year after tax reform, the HTC program is enjoying continued high demand from both developers and investors. NPS stats verify the incentive's continued popularity and concerns that lowering corporate tax rates would dampen investor appetite have not materialized.
The Big Five: Key Tax Credits and Public Incentives
When planning a new facility, accessing public incentives can help a company to leverage capital and receive a higher return on its investment. The five most relevant public finance programs are Property Assessed Clean Energy (PACE) financing, Opportunity Zones, Historic Tax Credits, New Markets Tax Credits, and Tax Increment Financing.
PA to Provide $36M in Tax Credits for Investments in Distressed Neighborhoods
More than a dozen other states, including New Jersey, Delaware, and Virginia, also give tax credits to businesses through similar initiatives, although amounts vary. New Jersey awards up to $12 million in credits through its Neighborhood Revitalization Tax Credit Program, while Virginia's annual cap is $17 million.
$425M in NJ Film and TV Tax Credits to Spur Film Economy
The program, which took effect in July, allocates $75 million annually for film and TV projects and $10 million for digital media projects. Supporters say it will add predictability to an industry the state needs.
OR Offers Tax Credit on Gifts to Venture Development Fund
As 2018 comes to a close, the University of Oregon is hoping a 60 percent state tax credit will inspire donors to give to the fund and help put innovation to work for Oregon. For Oregonians with a state tax liability, it may be a great way to support inventive startups while reducing their taxes.
4,000 Jobs Linked to OK Affordable Housing Tax Credit
The Oklahoma Affordable Housing Act was signed into law by Gov. Mary Fallin on June 3, 2014. It allocates $4 million per year in state low-income housing tax credits. The credits can't be used in Oklahoma, Tulsa, or Cleveland counties. The housing has to be for people who make 60 percent or less of the area median income.
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