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NCSHA Director Addresses How to Make LIHTC Better

Thursday, June 26, 2003 - 1:45AM

Speaking today to attendees of NCSHA’s Housing Credit Conference & Marketplace being held through tomorrow at the Sheraton San Diego Hotel & Marina, National Council of State Housing Agencies (NCSHA) executive director Barbara Thompson led her panel through a multi-layered discussion that addressed the question: “With the passage of the recent tax law, how can the industry, public and private, work to make the low-income housing tax credit program a better one?” Panelists included Richard Goldstein of Nixon Peabody, Joseph Hagan of the National Equity Fund, Edwin Neill of Fannie Mae, Jeanne Peterson of the California Tax Credit Allocation Committee, Marc Schnitzer of Related Capital Cos. and Wallace Scruggs of Housing Trust of America.
Thompson greeted her audience at the opening plenary session with: “Let’s talk about victory, and it’s wonderful to talk about victory.” Her’s might have been a different greeting had the tax law, as originally proposed by the Bush administration, passed because, as Thompson then noted, the original proposal put at risk 40 percent, or 35,000, LIHTC units. Thompson and her panel of experts then delved into topics such as long-term pricing, developer trends, QAP requirements and Year 15 issues, as well as the effect of cap increases. Panelists concurred that the industry’s work is not done. Thompson’s question about whether vigilance was the lesson learned during the passage of the tax law was answered with a definite “Yes.”

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