Journal of Tax Credit December 2012

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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.

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Also in this Issue

  • New Congressional Faces Take the Stage

  • LIHTCs Turn Vacant Lot into Garden-Style Apartments

  • Transit Oriented Development Incorporates Green Technology in Thriving Minnesota City

  • Bond Financing Preserves Affordable Housing Opportunities in Philadelphia

  • Report Examines Rural Poverty and Housing

  • Focus On: Denver, Colo.

  • Understanding the 2013 Income Limits

  • Q&A: New LIHTC Projects Not Held Harmless to Old LIHTC Limits

  • HUD Funds Multi-Phase Public Housing Renovation in South Boston

  • Rehabilitation of Historic Mill Restores Community, Prevents Blight

  • Treating Separately Owned Condo Units as a Single Building

  • Q&A: Multiple QEIs and the Substantially-All Requirement

  • NMTCs Expand Affordable Higher Education in Indianapolis

  • NMTC Working Group Update: January 2013

  • Historic Tax Credits in a Modern World: Retail as Theater

  • The Current: Hot Topics for the Start of 2013

  • Navy’s Largest Solar Installation to Date Completed at NAWS China Lake

Editorial Board


Michael J. Novogradac, CPA

Editorial Director

Alex Ruiz

Associate Editor

Jennifer Dockery

Staff Writers

Teresa Garcia
Mark O’Meara

Technical Editors

Robert S. Thesman, CPA
James R. Kroger, CPA
Owen P. Gray, CPA
Thomas Boccia, CPA
Daniel J. Smith, CPA

Contributing Writers

Peter Lawrence
Armand Domalewski
Brent R. Parker
Francesco Ferrante
Cyle Reissig
John Leith-Tetrault
John M. Tess
Forrest Milder


David R. Grubman


Alexandra Louie
Jesse Barredo
James Matuszak


Address all correspondence and
editorial submissions to:
Alex Ruiz / 415.356.8088

Address inquiries regarding
advertising opportunities to:
Emil Bagalso / 415.356.8037

Editorial material in this publication is for informational purposes only and should not be construed otherwise.

Advice and interpretation regarding the low-income housing tax credit or any other material covered in this publication can only be obtained from your tax advisor.

© Novogradac & Company LLP
2014 All rights reserved.
ISSN 2152-646X

Reproduction of this publication in whole or in part in any form without written permission from the publisher is prohibited by law.

Advisory Board

Low-Income Housing Tax Credits

Bud Clarke
Boston Financial Investment Management
Jana Cohen Barbe
SNR Denton
Tom Dixon
Boston Capital
Rick Edson
Housing Capital Advisors Inc.
Richard Gerwitz
Citi Community Capital
Rochelle Lento
Dykema Gossett PLLC
John Lisella
U.S. Bancorp Community Dev. Corp.
Phillip Melton
Centerline Capital Group
Thomas Morton
Pillsbury Winthrop Shaw Pittman LLP
Mary Tingerthal
Minnesota Housing Finance Agency
Rob Wasserman
U.S. Bancorp Community Dev. Corp.

Property Compliance

Michael Kotin
Kay Kay Realty
Michael Snowdon
Highridge Costa Housing Partners
Kimberly Taylor
Housing Development Center

Housing and Urban Development

Flynann Janice
Rainbow Housing
Ray Landry
Davis-Penn Mortgage Co.
Denise Muha
National Leased Housing Association
Monica Sussman
Nixon Peabody LLP

New Markets Tax Credits

Frank Altman
Community Reinvestment Fund
Elaine DiPietro
Enterprise Community Investment Inc.
Merrill Hoopengardner
Advantage Capital
Scott Lindquist
SNR Denton
Matthew Philpott
U.S. Bancorp Community Dev. Corp.
Matthew Reilein
JPMorgan Chase Bank NA
Ruth Sparrow
Futures Unlimited Law PC

Historic Tax Credits

Jason Korb
Capstone Communities
Bill MacRostie
MacRostie Historic Advisors LLC
John Leith-Tetrault
National Trust Comm. Investment Corp.
John Tess
Heritage Consulting Group

Renewable Energy Tax Credits

Bill Bush
Borrego Solar
Ben Cook

SolarCity Corporation
Jim Howard
Dudley Ventures
Forrest Milder
Nixon Peabody LLP