Capitol Connections: Housing and legislative updatesEven in the final days of the federal fiscal year, there’s still a lot going on that’s exciting for affordable housing. Listen in as Bob Moss and David Gasson, principals with MG Housing Strategies, join Beth Mullen, CohnReznick’s Affordable Housing practice leader, to discuss critical legislative updates for the LIHTC industry. This month’s conversation covers the current outlook for a continuing resolution and FY23 affordable housing priorities in the extenders package and omnibus budget, among other year-end priorities.
Q&A Video: Top Inflation Reduction Act takeaways for affordable housingThe Inflation Reduction Act’s vast array of tax and climate provisions offer ample opportunities to take advantage of renewable energy credits. Industry leader Beth Mullen sat down with Lee Peterson, of CohnReznick’s Renewable Energy practice, to unpack top components that those in Affordable Housing need to know, such as “adder credits” for projects benefiting low-income communities and upcoming changes to the interaction of Investment Tax Credit (ITC) and LIHTC basis.
NMTC as a tool to fight the climate challenge: Building resilient communitiesThe impacts of climate change are vast, and often much greater on disadvantaged communities. So when it comes to protecting those communities from climate change, the New Markets Tax Credit (NMTC) industry needs to look beyond simple green building and work instead toward supporting true resilience. Read how the NMTC program can be a tremendous asset in the climate fight, based on insights shared by CDFI and CDE representatives during our 2022 NMTC Summit.
HUD to allow monthly surplus cash distributions for qualifying multifamily projectsA new election on new loans will allow up to monthly distributions of surplus cash for unassisted multifamily projects, which previously were limited to distributions based on annual and potentially semi-annual computations. Read our overview of eligibility and compliance requirements.
Utilizing coronavirus state and local recovery funds for affordable housingAttempts to access Coronavirus State and Local Fiscal Recovery Funds (SLFRF) to finance affordable housing have so far been frustrated by uncertainty regarding several structuring issues associated with the funds in combination with LIHTC credits. However, Treasury has now issued additional guidance to ensure that SLFRF can be used for the affordable housing programs, provided conditions are met.
Subject matter expertise
CPA, Partner, Affordable Housing Industry Leader
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