CDFA Tax Credits Finance Update - January 22, 2019
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Features |
LIHTC to Provide 650 Affordable Homes in Atlanta, GA by 2020
Georgia has earmarked federal tax credits to provide 650 affordable rental homes in metro Atlanta and they are scheduled to be ready for occupancy in late 2020, according to a statement from the Department of Community Affairs on the award of a total of $25 million statewide in federal Housing Tax Credits.
13 WI Affordable Housing Projects Seek Credits
Several developers in the Milwaukee, WI area are seeking Low-Income Affordable Housing Tax Credits to fund various affordable housing projects. One includes $18M in LIHTC funds for the redevelopment of a former refrigerator plant. Another is seeking $1M in low income housing tax credits for 58 affordable housing units.
Thanks to NMTCs, OK Community Wins Manufacturing Headquarters
Salem Tube, a global manufacturer of high precision stainless steel tubing and nickel alloy tubes, will locate its North American headquarters and advanced manufacturing facility in Durant, OK. The development group arranged for and fully allocated $34M in NMTCs for the project.
ID Historical Society Proposes State Historic Tax Credit
Idaho's State Historical Society plans to bring forth a bill during the upcoming legislative session that would give developers of historic buildings up to a 20 percent tax credit on money spent to rehabilitate them.
OK Lawmakers Consider Changes to Affordable Housing Tax Credit
The Incentive Evaluation Commission recommends shortening the period the credit may be claimed from ten years to five. Mental Health Association Oklahoma Chief Housing Officer Greg Shinn said that could mean a building slowdown if developers opt not to build because they're getting less in tax credits and must take on more debt.
Renewable Energy Tax Credits Important to HI Economy
The Hawaii Department of Taxation recently released its latest report on state tax credits claimed for the last year for which they have full records (2016). From 2011-2016, Hawaii's Renewable Energy Technologies Income Tax Credit was the largest single tax credit claimed, though as a decreasing percentage year to year.
MD Governor Proposes $56.5M to Support OZs
Maryland Governor Larry Hogan has proposed a $56.5 million set-aside for economic development and business creating in Maryland Opportunity Zones. Hogan's plan involves offering businesses additional state tax credits, job training programs, small business loans and affordable housing incentives, in some cases through proposed legislation.
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Upcoming Events |
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More Headlines |
New Markets Tax Credit Faces New Opportunities, Challenges in New Congress
Novogradac & Company | Jan. 17 | Legislative | Tax Credits
University in North Chicago, IL Receives $2.5M in NMTCs
PR Newswire | Jan. 16 | Tax Credits
Brooklyn, NY Clinic Project Supported by RLF, NMTCs
Crain's New York Business | Jan. 16 | Revolving Loan Funds (RLFs) | Tax Credits
Boise ID's Urban Renewal Agency Adds Incentives for Housing Development
Idaho Press | Jan. 16 | Incentives | Tax Credits
Dayton Arcade Project Hits Stride with $96M in Total Financing
Dayton Daily News | Jan. 11 | Energy Finance | Property Assessed Clean Energy (PACE) | Tax Credits
AK Judge Rules on Constitutionality of Tax Credit Bonds
Alaska Journal of Commerce | Jan. 7 | Bond Finance | Tax Credits
Bethlehem, PA Companies Receive $400K in KIZ Tax Credits
Lehigh Valley Business | Jan. 4 | Economic Development | Tax Credits
NY Housing Preservation & Development Awards $18.1M in LIHTCs
Affordable Housing Finance | Jan. 3 | Tax Credits
San Marcos, TX Encourages Senior Living Project to Apply for LIHTCs
San Marcos Daily Record | Jan. 3 | Tax Credits
Affordable Housing Key to Revitalized Columbus, OH Neighborhood
Columbus Dispatch | Jan. 2 | Tax Credits
Northeastern PA Alliance Seeks Qualification Statements from NMTC Experts
Northeastern Pennsylvania Alliance | Dec. 26 | Member News | Tax Credits
New Data Makes Case for Permanent Authorization for NMTC
Novogradac & Co. | Dec. 24 | Tax Credits
Tax Credits Support Housing in North Eastam, MA
Cape Cod Times | Dec. 23 | Tax Credits
NMTC: A Tool Credit Unions Can Use to Revitalize Low-Income Communities
Novogradac & Co. | Dec. 17 | Tax Credits
136 PA Revitalization Projects Receive State Funding
PA DCED | Dec. 17 | Redevelopment | State Finance Program | Tax Credits
Historic Tax Credits Help to Spur Economic Growth in Small Towns Across CO
The Denver Channel | Dec. 15 | Historic Preservation | Tax Credits
KeyBank Provides $21.9M for Affordable Housing
The Daily News | Dec. 12 | Community Development | Tax Credits
Latest Round of OH Tax Credits to Create $909M in New Investments
Office of the Governor of Ohio | Dec. 11 | Tax Credits
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New Additions to the Online Resource Database |
CDFA // BNY Mellon Webcast Series: Unwinding Tax Credit Unwinds
Tax Credits | Webcasts
During this installment of the CDFA // BNY Mellon Webcast Series, Lillian Plata with Nee Plata Law LLC presented on the structure of tax credit unwinds for New Markets Tax Credit and Low-Income Housing Tax Credit deals.
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The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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