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Novogradac Journal of Tax Credits Volume 2 Issue 11

The November 2011 issue of the Novogradac Journal of Tax Credits.

Journal cover November 2011

Articles

Michael J. Novogradac

Tuesday, November 1, 2011

Despite remarkably successful track records — some decades-long — tax credit programs continue to come under attack by a handful of critics who suggest that cash grants might be more effective. To defend cost effective programs such as the low-income housing tax credit (LIHTC) and new markets tax credit (NMTC) against such attacks, Novogradac & Company has been commissioned to analyze the efficiency of the tax credits compared to that of comparable cash grants. We’ve also performed similar analysis of renewable energy tax credits (RETCs) and the historic tax credit (HTC).

Jennifer Hill

Tuesday, November 1, 2011

As low-income housing tax credit (LIHTC) prices have continued to trend steadily upward since last year’s rebound, the industry is focused on sustaining the market’s momentum. But, for a variety of reasons, the long-awaited higher prices may be too much of a good thing, according to panelists at Novogradac & Company LLP’s Affordable Housing Tax Credit Conference in San Francisco, Calif.

Michael Kotin

Tuesday, November 1, 2011

On August 16, the U.S. Department of Housing and Urban Development (HUD) issued Notice 2011-20 containing guidance for handling bed bug infestations. While technically limited to HUD-insured, HUD-held direct loan, Section 202, Project-Based Rental Assistance Contracts and properties with HUD use agreements, it is likely that the same standards will be applied to properties financed through other affordable housing programs, including the low-income housing tax credit (LIHTC).

G. Tyler Gibbs

Tuesday, November 1, 2011

Question 1: If a developer follows the safe-harbor guidelines for assets to be used in a renewable energy project, but ultimately that specific project cannot be completed, can the developer use the "safe-harbored" assets for another project and still qualify for a Section 1603 cash grant payment?

Forrest D. Milder

Tuesday, November 1, 2011

Yes, it’s “déjà vu all over again!” Perhaps Yogi Berra would have had the same reaction to our new annual ritual of worrying about how to grandfather renewables projects for Section 1603 grants. While some are still hoping that the Section 1603 program will be extended another year, it seems that grandfathering is a serious concern this year, so I thought it would be a good idea to provide an update to what you should be thinking about with respect to getting a Section 1603 grant next year and beyond.


News Briefs

Tuesday, November 1, 2011

Freddie Mac, which in June required lenders to apply for a special national designation to continue to sell and service multifamily senior housing conventional loans to the company, approved 12 lenders.

Tuesday, November 1, 2011

The U.S. Consumer Product Safety Commission (CPSC) and the U.S. Department of Housing and Urban Development (HUD) released updated remediation guidance that requires homeowners to replace all problem drywall.

Tuesday, November 1, 2011

The U.S. Department of Housing and Urban Development (HUD) awarded more than $8.3 million in grants to tribal communities in nine states through the Indian Community Development Block Grant (ICDBG) program.

Tuesday, November 1, 2011

The Ohio Tax Credit Authority approved a $5.8 million job creation tax credit for the Sherwin-Williams Company.

Tuesday, November 1, 2011

Travois New Markets and Indion Ventures provided new markets tax credit (NMTC) financing for a new 35,000-square-foot health and wellness center at Little Big Horn College (LBHC), the Crow Tribe of Indians' higher education institution, in Crow Agency, Mont.

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