Affordable Housing News & Views - December 2017

CohnReznick Insights

Capitol Connection: PABs - The Week Before Christmas? 

From the road at CohnReznick’s Affordable Housing and Community Development Forums, Bob Moss brings an update in his latest “Capitol Connection” on tax reform and the impact on housing. Bob helps explain the latest on Private Activity Bonds, preserving production, next steps for the Joint Committee on Taxation, and other details in what is proving to be a speedy road to tax reform.

Healthcare and Housing’s Growing Connection

Exploring healthcare and housing took center stage during CohnReznick’s annual housing conference earlier this fall and, released on November 29th, a new study by the Bipartisan Policy Center (BPC) further underscores this link. While we all are aware of the positive impact the LIHTC program has had and the housing crisis in America that continues to draw significant attention, the BPC’s report brings new light to the health benefits provided by stable, safe housing. The report, “Building the Case: Low-Income Housing Tax Credit and Health,” examines the housing and health “outcomes as well as…innovative ways to leverage LIHTC policy to improve health, research gaps, and federal policy implications.” The report can be found here. Recap videos from CohnReznick’s conference summarizing the discussions can be found here including the a discussion with keynote speaker, Dr. Josh Bamberger, Mercy Housing’s Chief Medical Consultant.

Revenue Recognition: Application for Affordable Housing Developers

For years there has been chatter around new accounting standards regarding both revenue recognition and leasing. With the implementation timeline for both now set, it's time to review processes and procedures to be sure your company is prepared. Housing developers who have not already begun planning to adopt the new standards risk last minute issues that can be costly and time-consuming while pulling much-needed resources from other areas within their organization. Please join our experts for a presentation and discussion around the new revenue recognition standard and the new lease accounting standard. Sign up here. CPE being offered along with an update from Capitol Hill and tax reform.

 

Around the Community

We will be attending and/or speaking at these events. We hope to see you!

NYHC / NHC 44th Annual Awards - December 6

Opportunity SC: 2017 Community Economic Development Conference – December 6-8

SHNNY Tax Credit Financing Roundtable – December 12

NCHSA’s 2018 HFA Institute – January 7-12

CohnReznick’s Boston Affordable Housing Community Development Forum – January 8

CohnReznick’s Bethesda Affordable Housing Community Development Forum – January 11

CohnReznick’s 11th Annual Tax Credit Summit – January 16-17

2018 National Multifamily Housing Council Annual Meeting – January 16-18

CohnReznick’s New York Affordable Housing Community Development Forum – January 18

CohnReznick’s Hartford Affordable Housing Community Development Forum – January 19

 

In Case You Missed It

News stories and headlines from the previous month

National News

Housing Group Lauds Senate Preserving Private Activity Bonds (Bloomberg)

U.S. Homelessness Rises for First Time Since 2010 (Affordable Housing Finance)

Senate Passes Tax Bill as Housing Advocates Work to Preserve Bonds (Affordable Housing Finance)

FHFA Urges Market Participants to Prepare for Common Securitization Platform (NCSHA)

How Tax Reform Could Devastate the Affordable Housing Market (American Banker)

Fannie Mae Re-Enters Low-Income Housing Tax Credit Market (Business Insider)

Developers, Banks Push to Close Bond Deals (Affordable Housing Finance)

$5M Grant from the City Will Fund Affordable Housing at New LGBT Center Campus (Curbed Los Angeles)

Portland Makes Largest Affordable Housing Investment in 50 Years (KGW NBC)

Fannie, Freddie Re-enter Low Income Housing Tax Credit Market (HousingWire)

This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.