Novogradac Journal of Tax Credits Volume 13 Issue 1
Abridged version of the January 2022 issue of the Novogradac Journal of Tax Credits. For more content, please subscribe to the Journal.
Question: Can an investor continue to claim new markets tax credits (NMTCs) if sufficient basis doesn’t exist in their investment in a community development entity (CDE)?
Sustainability–in various forms–is a major issue for nonprofit affordable housing developers. During a session Dec. 2, 2021, at the Novogradac 2021 Tax Credit Housing Finance Conference in Las Vegas, the issue took center stage.
As the Cuyahoga Metropolitan Housing Authority (CMHA) looks toward its 90th anniversary next year, its leaders are prioritizing perspective.
In April 2021, the U.S. Department of Housing and Urban Development (HUD) moved forward with the conceptual guidelines on how to replace demolished or disposed of public housing inventory by publishing the Faircloth-to-RAD conversions guidelines. The Rental Assistance Demonstration (RAD) program has become the cornerstone of public housing preservation and through these guidelines HUD was able to essentially couple its vision of returning these units back to inventory by bridging them to the popular RAD option.
This could be a transformational year for public housing authorities (PHAs).
Historic tax credits news briefs, including updates about Michigan's draft rules, an ACHP business meeting, a Maine HTC evaluation, an extension of the North Carolina HTC and more.
New markets tax credits new briefs, including the CDFI allocation announcement for CY 2021, a project in Missouri, CRA performance evaluations and a project in Wisconsin.
Renewable energy tax credits news briefs, including updates from New Jersey, the IRS and the Solar Energy Industries Association.
HUD news briefs, including an allocation announcment, a mortgagee letter and a property sale in California.
Compliance news briefs, including updates for Colorado, Arizona and Kansas.