Housing Plus

Housing Plus

Guidance and legal insight for all aspects of housing and community development

By the Housing Group at Ballard Spahr

Category Archives: Tax Credits

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Tax Reform – Proposed Legislation Protecting Affordable Housing

Posted in Historic Tax Credits, Housing Bonds, Legislative Initiatives, Low Income Housing Tax Credits, New Markets Tax Credits, Policy, Tax Credits, Tax Reform, Tax-Exempt Bonds
After legislation to repeal the Affordable Care Act was pulled from the House floor last Friday, news headlines across the country began reporting that tax reform is next on the Trump Administration’s agenda. As noted in our prior blog post, tax reform that changes the corporate tax rate, the tax-exempt bonds program and the tax-credit… Continue Reading

Housing Plus welcomes housing attorney Maia Shanklin Roberts to the blogging team

Posted in Community Development, Energy Tax Incentives, Government-Assisted Housing, Historic Tax Credits, Low Income Housing Tax Credits, Policy, Tax Credits
We are excited that Maia Shanklin Roberts has joined Ballard Spahr LLP and our Housing Plus team. Maia’s background is in community development. She worked with the Maryland Department of Housing and Community Development and the Citywide Coordinating Committee on Youth Violence Prevention in Washington, D.C. Maia is looking forward to bringing her keen insights about community development… Continue Reading

Ballard Spahr and CSG Advisors Host Another Informative Western Housing Conference

Posted in Budget, FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, GSE Financing, Legislative Initiatives, Policy, Public Housing, RAD, Tax Credits
Last week, Ballard Spahr in conjunction with CSG Advisors hosted its 7th Annual Western Housing Conference in Phoenix, Arizona. The Conference brought together a wide range of public and private housing professionals facilitating a dynamic conversation on current developments in government-assisted housing. The Conference opened with a “Washington Update” – a discussion on housing policy… Continue Reading

Regulatory comments due in March & other housing news updates

Posted in Fair Housing, Government-Assisted Housing, Legislative Initiatives, Policy, Public Housing, Section 8, Tax Credits, Tax Reform
Comments on the following HUD and housing related guidance are due this month. HOTMA implementation for Section 8 Voucher Programs – Due March 20, 2017 On January 18, 2017, HUD issued a proposed rule to implement certain sections of the Housing Opportunities through Modernization Act of 2016 (HOTMA) that affect the tenant-based Housing Choice Voucher… Continue Reading

HUD Publishes Further Revisions to RAD Notice

Posted in Community Development, Fair Housing, Government-Assisted Housing, Low Income Housing Tax Credits, Public Housing, RAD, Section 8, Tax Credits
In an announcement on January 12th, the U.S. Department of Housing and Urban Development (HUD) published a significant third revision to the Rental Assistance Demonstration (RAD) Notice (PIH 2012-32/ H 2017-03 Rev-3). According to HUD, the RAD notice was revised in order to maintain the increased pace of RAD transactions in a manner that is… Continue Reading

Join us for our Eleventh Annual National Housing Conference in Washington, D.C.

Posted in Budget, Fair Housing, FHA and GSE Financing, Government-Assisted Housing, Housing Bonds, Legislative Initiatives, Policy, Public Housing, RAD, Section 8, Tax Credits
Ballard Spahr is committed to facilitating and leading the conversation within the affordable housing community, which makes us thrilled to announce our Eleventh Annual National Housing Conference in Washington, D.C., from November 3 to 4. This two-day, complimentary event features engaging discussions, panel presentations, special insights, and networking opportunities with the key influences and power… Continue Reading

District Court Dismisses Disparate Impact Claims in Texas

Posted in Community Development, Enforcement, Fair Housing, Government-Assisted Housing, Low Income Housing Tax Credits, Tax Credits
After several years of litigation, the U.S. District Court for the Northern District of Texas recently dismissed disparate impact claims filed against the Texas Department of Housing and Community Affairs (TDHCA) in the fair housing case, The Inclusive Communities Project, Inc. v. The Texas Department of Housing and Community Affairs. The Inclusive Communities Project (ICP)… Continue Reading

The EB-5 Program gains short-term extension in Congress

Posted in Budget, Community Development, Government-Assisted Housing, Legislative Initiatives, Low Income Housing Tax Credits, Tax Credits
Congress recently passed a short-term extension to keep the EB-5 Regional Center Program (commonly known as the EB-5 Program or the Immigration Investor Program) from expiring. The EB-5 program adds versatility to the financing options available to affordable housing, and can be used with certain Low Income Housing Tax Credits. The extension of this program… Continue Reading

Thomas R. Davis appointed as the new Director of HUD’s Office of Recapitalization

Posted in Government-Assisted Housing, Low Income Housing Tax Credits, Multifamily, Public Housing, RAD
Last week, HUD’s Office of Multifamily Housing Programs announced Thomas R. Davis as the new Director of the Office of Recapitalization. Mr. Davis will oversee the Office’s efforts to further financial stability and viability for the preservation and recapitalization of affordable housing. The Office’s key programs include Mark-to-Market (M2M), Section 236 Preservation, Senior Preservation Rental… Continue Reading

Looking forward to the annual conference of the ABA Forum on Affordable Housing and Community Development Law

Posted in Community Development, FHA and GSE Financing, Government-Assisted Housing, Policy, Public Housing, RAD, Tax Credits
From May 20-22, a handful of our bloggers will speak at the ABA Forum on Affordable Housing and Community Development Law in Washington, D.C. – an annual meeting that brings together pertinent developments, resources, strategies, and insights within the affordable housing and community development law community. Molly R. Bryson, one of the Conference Planning Chairs, will… Continue Reading

Bill introduced in Senate to create permanent LIHTC rate floors

Posted in Legislative Initiatives, Low Income Housing Tax Credits, Tax Credits, Tax Reform
On May 5, 2015, Senators Maria Cantwell (D-WA) and Pat Roberts (R-KS) introduced the “Improving the Low-Income Housing Tax Credit Rate Act” (S. 1193), which would create a permanent 9% minimum low-income housing tax credit rate for non-tax-exempt bond-financed new buildings or substantially rehabilitated buildings, and a permanent 4% minimum rate for acquisition credits. The… Continue Reading

Congress hears testimony on public-private partnerships in affordable housing

Posted in FHA and GSE Financing, Government-Assisted Housing, Legislative Initiatives, Low Income Housing Tax Credits, Policy, Public Housing, RAD, Section 8
Would private developers build affordable housing if there were no government subsidies? Rep. Mike Capuano (D-MA) and his colleagues explored that question and other topics during a House Financial Service Subcommittee hearing held last Thursday on private sector participation in affordable housing programs. The hearing covered a wide range of housing programs that help leverage… Continue Reading

HUD announces proposed rule implementing expanded Violence Against Women Act protections

Posted in FHA-Insured Financing, Government-Assisted Housing, Low Income Housing Tax Credits, Public Housing, Section 8
Last week, HUD has announced a proposed rule to implement protections arising under the Violence Against Women Reauthorization Act of 2103 (VAWA).  The reauthorization added a number of programs covered by VAWA, including: HOME Investment Partnerships program for rental housing; Section 202 supportive housing for the elderly; Section 236 Rental Program; Section 811 supportive housing for people… Continue Reading

New Maryland income tax credit for small mixed use properties

Posted in Legislative Initiatives, Policy, State Tax Credits, Tax Credits
The owners of mixed use properties in Maryland historic districts should take note of the Maryland Sustainable Communities Small Commercial Tax Credit, a new state income tax credit that may be available to them. This new program—administered by the Maryland Historical Trust (MHT) and similar to programs previously available to larger commercial projects and homeowners—targets… Continue Reading

Prepayment of tax-exempt bonds in connection with the sale of a multifamily housing project

Posted in Housing Bonds, Low Income Housing Tax Credits, Multifamily, Tax-Exempt Bonds
In the last few years, we have seen an increase in the number of multifamily housing projects being sold at the completion of the 15-year low-income housing tax credit compliance period. Strong rental demand in many areas of the country and low financing rates have created a favorable market for selling these types of projects.… Continue Reading

Obama Administration’s FY 2016 budget would modify LIHTCs, permanently extend NMTC and energy tax credits

Posted in Budget, Energy Tax Incentives, Legislative Initiatives, Low Income Housing Tax Credits, New Markets Tax Credits, Policy, Tax Credits
As in prior years, the Obama administration’s FY 2016 budget includes a number of impactful, and generally positive, tax credit proposals. With respect to the Low-Income Housing Tax Credit (LIHTC), the budget retains many of last year’s proposed modifications, and adds a new proposal to remove the population cap for Qualified Census Tract designations. Specifically, the… Continue Reading

Please join us for the fifth annual Western Housing Conference

Posted in Budget, Community Development, Enforcement, Fair Housing, FHA and GSE Financing, FHA-Insured Financing, Government-Assisted Housing, GSE Financing, Housing Bonds, Legislative Initiatives, Multifamily, Policy, Public Housing, RAD, Section 8, Single-Family, Tax Credits, Tax Reform, Tax-Exempt Bonds
Several exciting developments have recently brought changes to the affordable housing industry and we are inviting you to explore them with us at our fifth annual Western Housing Conference. Ballard Spahr and CSG Advisors are pleased to announce this year’s Best of the West in Affordable Housing Development and Financing conference on March 13, in… Continue Reading

Affordable Housing Finance interviews Housing Plus’s Amy McClain about RAD’s future

Posted in Government-Assisted Housing, Legislative Initiatives, Low Income Housing Tax Credits, Policy, Public Housing, RAD, Section 8
In an interview with Affordable Housing Finance, Amy M. McClain (one of our bloggers!) was among industry leaders interviewed about the impact of HUD’s Rental Assistance Demonstration (RAD) program.  While the article profiled the Cambridge (MA) Housing Authority and its closing of the first tranche of a portfolio-wide conversion, the article also assessed the prospects for RAD.  Amy offers insights… Continue Reading

CDFI Fund FAQ clarifies subsidiary CDE dissolution/decertification process

Posted in New Markets Tax Credits, Tax Credits
In a previous Housing Plus blog post on January 7, 2015, I described the various updates to the CDFI Fund’s Frequently Asked Questions document for the New Markets Tax Credit (“NMTC”) program.  The most significant update may be the guidance relating to dissolving or decertifying subsidiary Community Development Entities (“CDEs”) at the end of the… Continue Reading

CDFI Fund Releases Updated Compliance FAQ

Posted in New Markets Tax Credits, Tax Credits
On Friday January 2, the CDFI Fund released an updated Frequently Asked Questions document for New Markets Tax Credit (“NMTC”) questions relating to certification, compliance monitoring, and evaluation. The updated FAQ supersedes a prior document released in September 2011. The updated guidance addresses the following issues: Dissolution of subsidiary – Community Development Entities (“CDEs”); Termination… Continue Reading

Senate passes Tax Extender Package at 11th hour

Posted in Energy Tax Incentives, Historic Tax Credits, Low Income Housing Tax Credits, New Markets Tax Credits, Policy, Tax Credits, Tax Reform, Uncategorized
The Senate passed the “Tax Increase Prevention Act of 2014” (H.R. 5771) on Tuesday night just before Congress adjourned for 2014. As Molly Bryson described in her December 5, 2014 post following the House’s passage of the bill, the tax extenders package provides a one-year retroactive extension of certain tax provisions that expired at the… Continue Reading

House tax extender package bolsters Low-Income Housing Tax Credit and New Markets Tax Credit programs

Posted in Low Income Housing Tax Credits, Tax Credits
On Wednesday, December 3, 2014, the House of Representatives passed a one-year tax extender bill that will shore up two key housing and community development programs. The Tax Increase Prevention Act of 2014 (H.R. 5771) (the “Act”), passed 378 to 46, extends a favorable provision in the Low-Income Housing Tax Credit (“LIHTC”) program, by providing… Continue Reading

National Trust for Historic Preservation and Urban Land Institute initiative studies and promotes building reuse in America’s cities

Posted in Community Development, Historic Tax Credits, Legislative Initiatives, Policy, Tax Credits
Recognizing the environmental, economic and community benefits of reusing vacant and blighted property, The National Trust for Historic Preservation (NTHP) and the Urban Land Institute (ULI) created the Partnership for Building Reuse to bring together local partners and stakeholders to identify opportunities and address challenges related to the reuse of buildings in America’s cities.  This… Continue Reading

Ballard Spahr’s National Housing Symposium goes beyond the horizon

Posted in Budget, Community Development, Government-Assisted Housing, Legislative Initiatives, Low Income Housing Tax Credits, Policy, Public Housing, RAD, Senior Housing, Supportive Services, Tax Credits
Yesterday Ballard Spahr held its 9th annual National Housing Symposium in Washington, D.C..  The theme of the Symposium was “Beyond the Horizon:  Housing and Community Development Strategies for the Future”.   Government officials, investors, developers, lenders, and other housing professionals spent the day discussing affordable housing issues.  To give a flavor of what was discussed, below is a… Continue Reading