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Journal of Tax Credits Volume 1 Issue 11
Articles
Question: What are the current costs and related market trends that affect the valuation of fair market value for renewable energy assets?
On November 2, voters cast ballots in the mid-term elections. As the Journal of Tax Credits went to press, it was clear that the Republican Party won control of the House of Representatives while the Democrats retained control of the Senate.
Tax credit syndicators and lenders, concerned about what they see as potentially unsustainable equity prices, put the low-income housing tax credit (LIHTC) equity market’s current state into historical context and discussed the effect of new investors on the market during sessions at the Novogradac & Company affordable housing tax credit conference in San Francisco, Calif. on September 30.
As a general rule, community colleges don’t offer residence halls. But that doesn’t mean they don’t want to help their students find housing, or that students aren’t interested in living near campus. So when Buffalo, N.Y.-based developer Jake Schneider heard Erie Community College (ECC) president Jack Quinn speak about the school’s rapid growth and corresponding housing demand at a brown bag lunch, he hatched a plan to convert an old Alling & Cory paper warehouse to the Lofts at 136, chic student apartments in downtown Buffalo.
Any tax credit syndicator interested in economic survival during the great recession has been working overtime to identify new investors. Speaking from personal experience, nothing is more frustrating than trying to convince a company CFO to try something new when revenue is down and cash is tight. Arranging the first phone conversation isn’t so hard. But getting past that first phone call to a face-to-face meeting without the help of a powerful door opener can be a daunting task.
News Briefs
The Community Development Financial Institutions (CDFI) Fund released preliminary data on new markets tax credit (NMTC) projects financed through the end of fiscal year (FY) 2009.
On October 15 the National Park Service (NPS) proposed amending its procedures for obtaining historic preservation certifications for rehabilitation of historic structures.
The U.S. Department of the Interior (DOI) last month approved the first large-scale solar energy plants to be built on public lands.
As its final action before adjourning for midterm elections, Congress passed a continuing resolution (CR) that will continue funding all federal government agencies, including the U.S. Department of Housing and Urban Development, at fiscal year (FY) 2010 levels.
Owners of multifamily rental developments that receive funding, including tax credits, from the state of Texas must report the number of vacant units to the Texas Department of Housing and Community Affairs (TDHCA) each quarter.
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