Union Square in the heart of New York City has long been a central gathering place for individuals and families for relaxation, play, performance, and social protest. The density of this urban space is further enhanced as a result of the major subway transit hub located under the park, and the...
ATLANTA—Georgia expects to see projects that preserve existing affordable housing properties take up a larger share of its low-income housing tax credit (LIHTC) authority over the next couple of years, as the number of properties aging out of their LIHTC restrictions rises.
RICHMOND—Developers will have to do more to win low-income housing tax credits (LIHTCs) in Virginia in 2008.
FRANKPORT—Projects centered on preservation of existing housing stock and green construction methods will be the focus of the Kentucky Housing Corp.’s (KHC) 2008 qualified allocation plan.
ALBUQUERQUE—Affordable housing developers in New Mexico requested more than $11.7 million in 9 percent low-income housing tax credits (LIHTCs) this year. Seven projects received about $4.94 million in LIHTC reservations.
PROVIDENCE—Dorothy Boisseau has already driven out to visit all nine of the project sites that applied for 2008 low-income housing tax credits (LIHTCs).
CASPER—The Wyoming Community Development Authority (WCDA) is emphasizing the location of affordable housing developments in the draft of its 2008 qualified allocation plan (QAP).
COLUMBIA—South Carolina is revising its 2008 qualified allocation plan (QAP) for low-income housing tax credits (LIHTCs) to beef up its criteria for rehabilitation projects and offer extra points to developers with experience working with LIHTC-financed projects.
BURLINGTON—Applicants for low-income housing tax credits (LIHTCs) in Vermont next year will have to meet tough new green design standards, according to the draft 2008 qualified allocation plan (QAP).
Bond Demand On the Upswing
Demand for tax-exempt bonds to finance multifamily projects is on the upswing, and will rise even further in 2008, according to industry observers.