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This information was published in the Novogradac Journal of Tax Credits. The complete version is available by paid subscription only. Click here for more information on subscribing.

Also in this Issue

  • Litigation in Connection with Removing a General Partner: Be Prepared

  • Survey Shows Higher Rents, Occupancy Levels Follow Property Renovations in Maryland

  • Housing Homeless Veterans (Part One of Two)

  • Focus On: New York City Boroughs: Bronx, N.Y.

  • HUD Tackles Second Tenant Data Collection

  • Q&A: Utility Allowances for Appliances

  • St. Louis Housing Authority Installs More Than 2,600 Solar Panels

  • Orphanage Benefits from State and Federal NMTC Investment

  • NMTCs Bring Light to 35 California Sites

  • Q&A: What's New in CIIS 9.0?

  • NMTC Qualified Equity Investment Report

  • History and the Hill: Historic Tax Credit Faces Multiple Threats on the Hill

  • Historic Shoe Factory Renovation Completes Neighborhood Revival

  • Q&A: Federal Historic Tax Credit Basics

  • Atlanta's Old City Hall East to be Rejuvenated as Ponce City Market

  • Significant Changes Seen in New Jersey's SREC Market

  • Solar Fund and Platform Provide New Financing Options

 




Home / Journal / 2011 / 11
November 2011, Volume II, Issue XI Published By Novogradac & Company LLP

This is an abridged web edition of the Novogradac Journal of Tax Credits. Subscribe here to receive the complete magazine.

Tax Credits are More Efficient Than Cash Grants

By Michael J. Novogradac, CPA

Despite remarkably successful track records — some decades-long — tax credit programs continue to come under attack by a handful of critics who suggest that cash grants might be more effective. To defend cost effective programs such as the low-income housing tax credit (LIHTC) and new markets tax credit (NMTC) against such attacks, Novogradac & Company has been commissioned to analyze the efficiency of the tax credits compared to that of comparable cash grants. We've also performed similar analysis of renewable energy tax credits (RETCs) and the historic tax credit (HTC).

 

 

Despite High Pricing, Experts Say LIHTC Market is Stronger than Ever

By Jennifer Hill, Staff Writer, Novogradac & Company LLP

As low-income housing tax credit (LIHTC) prices have continued to trend steadily upward since last year's rebound, the industry is focused on sustaining the market's momentum. But, for a variety of reasons, the long-awaited higher prices may be too much of a good thing, according to panelists at Novogradac & Company LLP's Affordable Housing Tax Credit Conference in San Francisco, Calif.

 

 

HUD Notice: What to Do When the Bed Bugs Bite

By Michael Kotin, Kay-Kay Realty Corp.

On August 16, the U.S. Department of Housing and Urban Development (HUD) issued Notice 2011-20 containing guidance for handling bed bug infestations. While technically limited to HUD-insured, HUD-held direct loan, Section 202, Project-Based Rental Assistance Contracts and properties with HUD use agreements, it is likely that the same standards will be applied to properties financed through other affordable housing programs, including the low-income housing tax credit (LIHTC).

 

 

Q&A: Section 1603 Safe Harbor Scenarios

By G. Tyler Gibbs, CPA, Novogradac & Company LLP

Question 1: If a developer follows the safe-harbor guidelines for assets to be used in a renewable energy project, but ultimately that specific project cannot be completed, can the developer use the "safe-harbored" assets for another project and still qualify for a Section 1603 cash grant payment?

 

Grandfathering Your Project for Section 1603 Grants Beyond 2011

By Forrest David Milder, Esq., Nixon Peabody LLP

Yes, it's "déjà vu all over again!" Perhaps Yogi Berra would have had the same reaction to our new annual ritual of worrying about how to grandfather renewables projects for Section 1603 grants. While some are still hoping that the Section 1603 program will be extended another year, it seems that grandfathering is a serious concern this year, so I thought it would be a good idea to provide an update to what you should be thinking about with respect to getting a Section 1603 grant next year and beyond.

 


News Briefs


Freddie Mac, which in June required lenders to apply for a special national designation to continue to sell and service multifamily senior housing conventional loans to the company, approved 12 lenders...


The U.S. Consumer Product Safety Commission (CPSC) and the U.S. Department of Housing and Urban Development (HUD) released updated remediation guidance that requires homeowners to replace all problem drywall...


The U.S. Department of Housing and Urban Development (HUD) awarded more than $8.3 million in grants to tribal communities in nine states through the Indian Community Development Block Grant (ICDBG) program...


The Ohio Tax Credit Authority approved a $5.8 million job creation tax credit for the Sherwin-Williams Company...


Travois New Markets and Indion Ventures provided new markets tax credit (NMTC) financing for a new 35,000-square-foot health and wellness center at Little Big Horn College (LBHC), the Crow Tribe of Indians' higher education institution, in Crow Agency, Mont....


The National Housing & Rehabilitation Association (NH&RA) announced 18 finalists in seven categories for this year's Timothy J. Anderson (Timmy) Awards...


In the event the Internal Revenue Service (IRS) determines that a taxpayer's project did not qualify for all or part of a payment under the Section 1603 grant in lieu of energy tax credit program...

  

 


 

The Novogradac  Journal of Tax Credits offers news, opinions and features about affordable housing, community development and renewable energy tax credit industries. The complete version is available by paid subscription only. Click here for more information on receiving a monthly print subscription.

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