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Affordable Housing News and Views - May 2016


News stories and headlines from the previous month
 
Senators Schumer and Cantwell Call for Housing Credit Expansion (Affordable Housing Rental Housing Action)
 
 
Senate Considers HUD Funding for FY-2017 (National Housing & Rehabilitation Association)
 
First-Ever National Housing Trust Fund Allocations Total $174 Million (National Housing & Rehabilitation Association)
 
 
 
 
 
 
 
Construction Debt Pipeline Flows (Affordable Housing Finance)
 
AHF 50 Developers Ready for More (Affordable Housing Finance)
 
 
 
 
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Report: Low-Income Housing Tax Credit at Year 30

The Low-Income Housing Tax Credit (LIHTC) program reaches its 30th anniversary in 2016, making it the longest tenured federal affordable housing program in history.  CohnReznick’s latest report provides detailed analysis of the performance of housing credit properties and trends observed across the national housing tax credit portfolio consisting of 20,000 properties.
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Multifamily Dynamics Will Remain Strong Through 2016
Multifamily occupancy rates were at 94.6% through the first half of 2015, and renewal rates were trending 5.4% higher than 2014's levels. None of the major rental markets was experiencing significant overbuilding as rental demand and absorption continued to outpace supply.
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Can Community Solar Bring Renewable Energy to the Masses?
Also referred to as shared renewables or solar ‘gardens’, it is an energy procurement model that allows private companies, institutions and individuals to aggregate their electricity load to purchase clean energy on behalf of those who wish to participate. The model offers an alternative to rooftop solar for both individuals and businesses wishing to benefit from the stable pricing and green credentials that renewable energy affords but can’t because their rooftops are not suitable for solar panels or they are renters. 
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Proposed Regulations Address Related Party Financing
U.S. taxpayers contemplating a related party financing arrangement should be aware of new proposed Treasury regulations. Effective April 4, 2016, the IRS will have expanded authority to re-characterize debt arrangements as equity—thereby denying deductions for interest expense and possibly creating withholding tax liability for interest payments re-characterized as dividends.
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Save the date!
CohnReznick announces that its 2016 Fall Affordable Housing Conference will be in Philadelphia – September 20-21, 2016. Sponsorship opportunities exist. More details to come!

Register today!
CohnReznick’s New Markets Tax Credit Summit - May 9-11 

Join us at these industry events:
CohnReznick’s Winell Belfonte and Laura Wilder will present on tax issues.
 
AHF Live! Housing Developers Forum – May 9-11
CohnReznick’s Rob Haley will present on Year 15.
 
17th Annual NYSAFAH New York State Affordable Housing Conference May 11 
CohnReznick’s Bob Moss will present on Federal Housing Policy: 2016 and Fred Copeman will present at the Investor's Roundtable: Who's investing in LIHTC these days?
 
 
CohnReznick’s Dan King will participate in an Affordable Housing & State Tax Credit roundtable.
 
CohnReznick’s Nick Ratti will present on Advanced Tax Allocations Issues and Pushpita Kotikalapudi will present on Low-Income Housing Tax Credit Projections 101.
 
CohnReznick’s Marshall Phillips, Nick Ratti, Kayla Gross, Stephanie Caragher, and Dharminder Kalsi will present in various sessions throughout the summit.
 
CohnReznick's Beth Mullen, Fred Copeman, and Cindy Fang will present in various sessions.

© 2016 CohnReznick LLP

This has been prepared for information purposes and general guidance only and does not constitute 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.

 

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