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Novogradac Journal of Tax Credits Volume 4 Issue 3

The March 2013 of the Novogradac Journal of Tax Credits.

Journal cover March 2013

Articles

Michael J. Novogradac

Friday, March 1, 2013

In recent months a lot of attention has been paid to the deliberations and maneuverings in Congress and how they will affect the future of affordable housing, community development, historic preservation and renewable energy. As 2013 unfolds, much of the focus will remain on deficit reduction and tax reform. However, a number of potential regulatory changes may also have important consequences for the tax credit community.

Brandi Day

Friday, March 1, 2013

Small rental properties come with increased risks that make them difficult to develop and underwrite. Depending on the market, a “small” property may be up to 50 units or up to 30 units. However, both come with the same problems of higher per-unit costs.

John Leith-Tetrault

Friday, March 1, 2013

In 1981 the United States was mired in an economic recession that posed a significant challenge to the newly elected Reagan administration. Much like today, the Republican Party favored changes to the tax code to stimulate investment patterns that would promote economic growth. The President’s proposed formula included both tax cuts and “tax expenditures,” such as tax credits and accelerated depreciation, to steer capital back into the real estate market. Effective Jan. 1, 1982, Congress passed a stimulus bill that included the federal historic tax credit (HTC) which, for the past 32 years, has provided a tax credit (20 percent since 1986) for the rehabilitation of certified historic properties. The purpose of the HTC was to level the investment playing field for the rehabilitation of existing buildings, which were at a competitive disadvantage to new construction for capital investment.

Dan Yonkin and Yuri Horwitz

Friday, March 1, 2013

The solar industry continues to promise potential tax-driven investors a growing and stable asset class in which to deploy their capital. However, for new entrants – or even experienced players – continued success in 2013 and beyond requires an intimate understanding of the solar industry and market’s changing topography.


News Briefs

Friday, March 1, 2013

The Office of the Comptroller of the Currency (OCC) revised, effective Jan. 1, the asset-size thresholds used to define “small bank,” “savings association,” “intermediate small bank” and “intermediate small savings association” for purposes of the Community Reinvestment Act (CRA)...

Friday, March 1, 2013

The U.S. Department of Housing and Urban Development (HUD) invited comments on its planned expansion of the Energy and Performance Information Center (EPIC), which tracks the amount and types of energy efficiency measures used in public housing. Revisions include expanding the data collected on the amount and type of public housing development, including low-income housing tax credit properties...

Friday, March 1, 2013

The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund released the interim rule for its bond guarantee program. Under the program, eligible CDFIs issue bonds that are guaranteed by the federal government and use the proceeds to extend credit for community development ...

Friday, March 1, 2013

The National Affordable Housing Management Association (NAHMA) announced the 2012 winners of its annual Industry Awards. The awards honor individuals and organizations that have improved affordable housing in their communities. Conrad Egan, president and CEO of the National Housing Conference and executive director of Millennial Housing...

Friday, March 1, 2013

The New Jersey Supreme Court is considering whether Gov. Chris Christie has the authority to abolish the New Jersey Council on Affordable Housing (COAH), which Christie tried to dismantle in 2011. Since then, Christie has been trying to transfer the duties of COAH to his cabinet...

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