How Housing Act Will Help Site Developments

How Housing Act Will Help Site Developments



The Housing and Economic Recovery Act of 2008 (H.R. 3221), which generally applies to buildings with placed-in-service (PIS) dates occurring after July 30, 2008, is expected to provide a boost to developers, says Glenn A. Graff, an Illinois attorney with Applegate & Thorne-Thomsen, PC, in Chicago.

One of the main reasons for the boost is the provision that sets the minimum credit percentage at 9 percent for both new construction and non-federally subsidized major rehabs.

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