Novogradac Journal of Tax Credits Volume 14 Issue 7

A former school, tobacco factory, county jail and trolley car rail yard were all transformed into vibrant 21st-century properties thanks to equity from historic tax credits (HTCs), earning the developments recognition as the 2023 Novogradac Journal of Tax Credits Historic Rehabilitation Award winners.

A health center in California, a rural hospital in Tennessee, a healthy food provider in Detroit and multiuse properties in Washington, D.C., and Detroit are among the winners of the Novogradac Journal of Tax Credits QLICI of the Year Awards for 2023.

California seniors who formerly experienced homelessness, a variety of residents in Virginia and even Afghan refugees in Colorado are the beneficiaries of properties that earned 2023 Novogradac Journal of Tax Credit Developments of Distinction Awards, honoring properties that strive for excellence in affordable housing.

Motivation to excel in community development comes from many sources.For some practitioners, there is a lifelong desire to make a difference. For others, events along the way shaped their passion. Still others keep opening new chapters and exploring new territories.

Maximum rents for low-income housing tax credit (LIHTC)-financed properties are based on area median income(AMI) limits released annually by the U.S. Department of Housing and Urban Development (HUD). HUD calculates the income limits for each area using Census data, subject to various rules and adjustments. One adjustment is actually a national limit: Irrespective of the underlying income data, HUD limits the percentage increase in a given area based on a national cap.

New markets tax credits news briefs for July 2023, with updates from the CDFI Fund, the Capital Magnet Fund, Nevada, Florida, New Jersey and more.

Historic tax credits news briefs for July 2023 with updates from Minnesota, Nebraska, Indiana, Maine and more.

Renewable energy tax credit news briefs for July 2023, with updates from the Internal Revenue Service and the U.S. House of Representatives.

Department of Housing and Urban Development news briefs for July 2023, with updates about income limits, the Housing Trust Fund and guidance.

Property compliance news briefs for July 2023 from Idaho, Maryland and Iowa.