Novogradac Journal of Tax Credits Volume 13 Issue 6
Abridged version of the June 2022 issue of the Novogradac Journal of Tax Credits. For more content, please subscribe to the Journal.
In March, The Michaels Organization (TMO), the District of Columbia Housing Authority (DCHA) and The Warrenton Group started building Kenilworth 166, a new development in Ward 7 in northeast Washington, D.C., with a novel financial process.
The COVID-19 pandemic caused a pause in the new markets tax credit (NMTC) equity market. But the market has recovered and is now doing quite well.
A dozen years after announcing their intention to modernize Community Reinvestment Act (CRA) regulations, three federal agencies–the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve (Fed) and Federal Deposit Insurance Corporation (FDIC)–issued a joint notice of proposed rulemaking May 5 to strengthen and modernize the CRA.
As the opportunity zones (OZ) incentive reaches the second half of its 10-year life span, investment continues to increase, according to panelists at the April 21-22 Novogradac 2022 Spring Opportunity Zones Conference in Long Beach, California.
The expanding awareness and interest in ESG–environmental, social and governance–investing could lead to a seismic increase in investor demand for community development tax incentives, but we are not there yet. Syndicators of and investors in community development tax credits report that while the subject is at the forefront of most conversations, ESG motivations behind investment selection remains a work in progress.
New markets tax credits news briefs for June 2022, including news from the CDFI, Missouri, Texas, North Dakota, and more.
Historic tax credit news briefs for June 2022, including news from the IRS, Virginia, Maine, Michigan, Illinois and more.
Renewable energy tax credits news briefs for June 2022, including federal and state legislation updates.
Income limit and HUD loan news updates for June, 2022.