Departments

IRS Revises 2018 Inflation Adjustments for LIHTCs, Bonds

April 27, 2018    

Revenue Procedure 2017-58, released in October 2017, provided the annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules and other tax amounts for 2018, as adjusted for inflation for 2018. But a few months later, Congress passed the new tax law with the...

HUD Issues 2018 Income Limits for HUD and Tax Credit Programs

April 27, 2018    

HUD recently announced the 2018 income limits for the MTSP housing programs effective April 1, 2018. This includes low-income housing tax credits and tax-exempt bond financing. HUD advises that the income limits are effective immediately for all HUD programs, whereas the IRS allows a transition...

Study Looks at Low-Income Housing’s Rooftop Solar Potential

April 27, 2018    

A recent study published by the National Renewable Energy Laboratory found that nearly half of all the residential rooftop solar potential in the United States is available atop low- to moderate-income households, representing a 320 gigawatt opportunity.

HUD Report Shows Continued Need and Success of LIHTC Program

March 29, 2018    

HUD recently released “Understanding Whom the LIHTC Program Serves: Data on Tenants in LIHTC Units as of December 31, 2015,” a report that analyzes LIHTC household data collected as a result of the Housing and Economic Recovery Act (HERA) passed in 2008.

Researchers Study Design Quality Considerations at LIHTC Developments

March 29, 2018    

The Harvard Joint Center for Housing Studies (JCHS) and Enterprise Community Partners recently published a paper that looks at how funding and review processes shape the design of affordable housing. The research effort did not attempt to define “design excellence,” which can be a...

New Analysis Highlights Benefits of Rent-Restricted LIHTC Sites

March 29, 2018    

A new analysis by Freddie Mac has concluded that over the past five years, individuals living in apartments with rents restricted through the LIHTC program have saved thousands of dollars annually compared to similar, market-rate properties. Authored by Freddie Mac Multifamily’s Research...

President Trump Nominates Tax Lawyer as Next IRS Commissioner

February 28, 2018    

President Donald Trump recently announced that he will nominate tax attorney Charles Rettig to be the next IRS chief. His five-year term would run from Nov. 13, 2017, when John Koskinen’s term expired. David Kautter, assistant secretary of the Treasury, Tax Policy, has been the acting...

IRS Releases Updated Priority Guidance Plan

February 28, 2018    

The IRS recently issued the second quarter update to its 2017-18 Priority Guidance Plan. The IRS had issued the initial 2017-2018 Priority Guidance Plan in October 2017. The plan gives an overview of the projects that the IRS intends to address in the plan year ending June 30, 2018. As in prior...

Report Shows Uneven Economic Progress Among Cities

February 28, 2018    

The Metropolitan Policy Program at the Brookings Institution recently released its annual report, Metro Monitor. Metro Monitor tracks economic progress in the 100 largest metropolitan areas in the U.S. using an Inclusive Growth Index. The report shows widespread but uneven progress across most...

FHFA Proposes Affordable Housing Goals for Fannie Mae and Freddie Mac

February 28, 2018    

The Federal Housing Finance Agency (FHFA) recently set new housing goals for Fannie Mae and Freddie Mac for 2018 through 2020. The FHFA is required by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to set annual housing goals for mortgages purchased by Fannie and...

Op-Ed Notes Weakened LIHTC as a Result of Tax Reform Legislation

February 28, 2018    

An op-ed by Sue Reynolds, president & CEO of Community Housing Works, and Matt Schwartz, president & CEO of California Housing Partnership, published in the San Diego Union Tribune notes that the adoption of last year’s tax reform legislation has weakened the Low-Income Housing Tax...

Surveyed Mayors Identify Affordable Housing as Major Concern

January 31, 2018    

The Boston University Initiative on Cities recently released the results of its 2017 survey of 115 mayors of cities with at least 75,000 residents. The study was sponsored by Citi Community Development and the Rockefeller Foundation. The study found that 51 percent of the mayors surveyed...