Departments

Follow Three Dos & Don’ts When Talking to Prospects

August 30, 2018    

Staff members at tax credit sites can get into trouble when talking with prospects. Any false assurances, improper assumptions, or inappropriate statements could trigger noncompliance and a possible fair housing complaint or lawsuit. To avoid problems, here are three Dos & Don’ts you...

Senator Wyden Introduces Middle-Income Housing Tax Credit

August 30, 2018    

U.S. Senator Ron Wyden (D-OR) recently introduced legislation to create a middle-income housing tax credit (MIHTC) intended to encourage the development of affordable housing for Americans with moderate incomes. The bill is modeled after the LIHTC program. The legislation aims to provide a...

Senator Cantwell Holds Roundtable Discussion on Affordable Housing

August 30, 2018    

U.S. Senator Maria Cantwell (D-WA) recently held a roundtable discussion in a Washington state county facing a housing crisis. Cantwell has been a strong advocate for the LIHTC program. This past spring, Cantwell worked with Senator Orrin Hatch (R-UT) and others to secure a 12.5 percent increase...

Federal LIHTC Investigation Widens in Florida to Banks

August 30, 2018    

At the end of 2016, Miami developer Matthew Greer, former CEO of Carlisle Development Group, pleaded guilty to stealing $16 million from the LIHTC program and was sentenced to three years in prison. The prosecutor in the case was Assistant U.S. Attorney Michael Sherwin, who has spent a number of...

Senators Introduce Bipartisan Affordable Housing Task Force Bill

July 30, 2018    

U.S. Senator Maria Cantwell (D-WA), U.S. Senator Todd Young (R-IN), and a bipartisan group of their Senate colleagues recently introduced the Task Force on the Impact of the Affordable Housing Crisis Act, which seeks to better understand and respond to America’s housing crisis by creating...

House Bill Would Raise, Adjust LIHTC Allocation Formulas

July 30, 2018    

The LIHTC would be increased and its allocation formula adjusted under a bill recently introduced in the U.S. House of Representatives. H.R. 6542, the Restoring Tax Credits for Affordable Housing Act, introduced by Representative James E. Clyburn (D-SC) would increase credit amounts and...

ACTION Campaign Releases New LIHTC Fact Sheets

July 30, 2018    

The A Call To Invest in Our Neighborhoods (ACTION) Campaign is a national, grassroots coalition of over 2,200 national, state, and local organizations and businesses calling on Congress to protect, expand, and strengthen the LIHTC program. The ACTION Campaign was established in 2009 by a broad...

HUD Seeks Comment on Possible Amendments to Disparate Impact Rule

July 11, 2018    

HUD recently released an advance notice of proposed rulemaking in the Federal Register. It seeks public comment on possible amendments to HUD’s 2013 final rule implementing the Fair Housing Act’s disparate impact standard. The amendments would help ensure the rule is consistent with...

Study Looks at Cost of Unstable Housing to Health System

July 11, 2018    

Unstable housing will cost the United States $111 billion in avoidable healthcare costs and education expenditures over the next 10 years, according to research from Children’s Healthwatch, one of the nation’s leading networks of pediatricians, public health researchers, and children...

Cost of LIHTC Small Compared to Other Federal Tax Expenditures

June 28, 2018    

The Joint Committee on Taxation (JCT) recently released its annual report on federal tax expenditures, listing over 150 tax provisions that are expected to reduce federal revenue over the coming years. As in years past, the report shows the comparatively low cost of the low-income housing tax...

Report Shows Challenging Housing Market for Low- and Moderate-Income Residents

June 28, 2018    

Harvard’s Joint Center for Housing Studies recently released its State of the Nation’s Housing Report. The report paints a grim picture centered around high rents, low wages, and booming wealth inequality. While the U.S. housing market has shown some improvements, such as the...

State Supreme Court Rules in Favor of Nonprofit in LIHTC Right of First Refusal

June 28, 2018    

The Massachusetts Supreme Judicial Court recently upheld a lower court’s ruling supporting a nonprofit developer’s right of first refusal to purchase an LIHTC site once a third party makes an enforceable offer to purchase the site. In Homeowner’s Rehab Inc. v. Related...