Affordable Housing News & Views - October 2018

CohnReznick Insights

CohnReznick Launches Opportunity Zone Resources and Mapping Tool

With trillions of dollars of unrealized capital gains across the U.S., the Opportunity Zones program provides a tax incentive for investors to re-invest such gains into Qualified Opportunity Funds. Stimulating both individual and corporate investment in low-income communities within these zones, Opportunity Zones have not come without questions. To respond to what is known initially and on through further expected IRS clarifications, stay informed through our Opportunity Zone center. And, search for an address to see if your property is in a Qualified Opportunity Zone!

Capitol Connection

While many are getting blitzed by advertising in this final election push leading up to November 6, a few of our housing credit champions are in tough races. The election results could transform our legislative landscape for 2019 and the 116th Congress. Catch up on the latest in Bob Moss’s report.

TCJA Impact on Year-End Tax Planning 

Beyond traditional year-end tax planning and prep work, a question looms for building owners because of 2017’s Tax Cuts and Jobs Act. Will building owners elect to be real property trade or business in order to fully deduct the net business interest expense of the entity. Syndicators and investors are in the process of preparing year end projections of 2018 tax losses so they likely will want to discuss this with building owners. Read more here in Beth Mullen’s, “Electing Real Property Trade or Business?”

Your Input: TCIS Mapping Tool Survey and Future Enhancements 

Earlier this year, CohnReznick’s Tax Credit Investment Services group released its annual report on the performance of housing tax credit investments. Beyond the traditional report, the first-ever interactive mapping tool enables users to see data down to the county level. With more than 1,000 registered users of this tool, we now want to ask you where we can add functionality, understand better ways to present data, and help make it more effective for you. Please take the five-minute survey below and, if you have not already registered to use the tool, please check it out here.

Around the Community

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

Opportunity Finance Network Conference 2018– Oct. 8-11

CohnReznick’s Annual New York Real Estate Cocktail Reception – Oct. 9

NCSHA’s Annual Conference and Showplace– Oct. 13-16

Preservation North Carolina Annual Conference – Oct. 17-19

National Leased Housing Association Fall Seminar – Oct. 18-19

National Housing & Rehabilitation Association Fall Developers Forum – Oct. 22-23

Homes Within Reach 14th Annual Conference (Pennsylvania)– Oct. 29-31

California Council for Affordable Housing Fall Conference – Oct. 31-Nov 2

Maryland Affordable Housing Coalition Annual Meeting – Nov. 5

Ohio Housing Conference – Nov. 6-8

AHF Live! The Affordable Housing Developer’s Summit – Nov. 11-14

2018 Virginia Governor’s Housing Conference – Nov. 14-16

In Case You Missed It  

News stories and headlines from the previous month

Tax credit, rental assistance endorsed to reduce evictions (Virginian-Pilot)

Missouri housing commission gets quorum, but won't issue tax credits (Kansas City Business Journal)

SVN Affordable Brokers 1,975-Unit Low Income Housing Tax Credit Portfolio Located in VA, NC and GA (Benzinga)

Senator Elizabeth Warren’s Bold New $500B Plan for Housing (Nonprofit Quarterly)

Two measures would raise record-breaking $6 billion for affordable housing (San Francisco Chronicle)

Three Great Initiatives Revolutionizing Affordable Housing In The U.S. (Forbes)

Seattle wants to give away land for affordable housing (Crosscut.com)

North Carolina Housing Coalition Names New Executive Director (NCHousing.org)

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.