July 12, 2022: LIHTC-COVID Report Insights

Published by Michael Novogradac on Tuesday, July 12, 2022 - 5:45am

The COVID-19 pandemic has killed more than 1 million Americans, while 87 million Americans have tested positive for the virus–creating an event that has affected virtually every aspect of life. For owners, operators, investors and tenants in affordable housing, the pandemic created both a health care crisis and a potential financial crisis that required new and different approaches. Novogradac examines those issues in a new report, “Resilience and Responsiveness: How LIHTC Properties Weathered the COVID-19 Pandemic and What to Expect in the Future.” In today’s podcast, Michael Novogradac, CPA, and Novogradac partner Blair Kincer, the lead author of the report, discuss the findings, including how the pandemic affected occupancy and rental receipt rates, whether stimulus payments are a baked-in part of the federal response to future pandemics, takeaways for property owners and underwriters and the technological adaptations made at low-income housing tax credit properties during the pandemic.