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Washington Housing Finance Commission Reports on LIHTC Property Transfers to Nonprofit Sponsors

Friday, September 20, 2019 - 10:15AM

The Washington Housing Finance Commission published a report on what it describes as an emerging threat of investors who seek to disrupt the transfer of low-income housing tax credit properties to nonprofit sponsors at the end of the 15-year compliance period. Nonprofit Transfer Disputes in the Low-Income Housing Tax Credit Program: An Emerging Threat to Affordable Housing, states, “private firms have in recent years begun to systematically challenge nonprofits’ project-transfer rights and disrupt the normal exit process in hopes of selling the property at market value.” The report calls for courts to resolve disputes in favor of nonprofit ownership in existing cases.

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