The Basics of Community Economic Development
|
|
- Adrian Armstrong
- 5 years ago
- Views:
Transcription
1 The Basics of Community Economic Development May 25, 2017 Presented by: Lillian Plata, Esq., MS&B Jong Sook Nee, Esq., MS&B Amelia Rideau, Esq., PNC Bank, N.A.
2 The Basics of Community Economic Development Access to Credit & Capital Professional Ethics & Responsibility Community & Client Participation
3 Access to Credit & Capital Financial Tools at a Glance Long or short term tax exemptions and abatements Market access through conduit bond issues and/or use of municipal credit Environmental Remediation Grants/Loans Direct municipal/authority loans or grants State tax credits and incentives CDBG/HOME Funds Disaster Relief Recovery Funds Federal tax credits EB-5 Immigrant Investor Program 3
4 Why Do We Need Incentives? Banks not extending credit Overuse of syndication complicates lending Higher DSCR requirements Higher LTV requirements Shorter terms High interest rates Guaranty requirements Project gaps significant 4
5 Pros/Cons Pros: creates market access for needed funds- fills gap may be less restrictive financing terms than conventional lending May be cheaper than conventional lending May provide equity or otherwise allow project to meet senior lending requirements (i.e. LTV) Cons: Requires cooperation of multiple entities with different risk profiles/lending requirements State and local incentive programs require public government action Necessitates inter-creditor issues Takes time Raises pre-development costs May require bridge funding 5
6 Land Tax Exemptions/Abatements New Jersey Examples: Long term (up to 30 year) PILOT for redevelopment projects based on annual gross revenue or total project cost and subject to statutory minimums and staged increases 5 year exemption for new construction or improvements to commercial, industrial, multiple dwellings- depends on municipal ordinance Under RAB law, redevelopment entity or EDA can issue bonds secured by PILOT payments- no statutory minimum or staged increase- constitutes paramount municipal lien Housing Authority Projects, Cooperation Agreement 6
7 Federal Tax Incentives Tax Credits: New Market Tax Credits Low Income Housing Tax Credits Historic Tax Credits 7
8 Federal Tax Incentives New Markets Tax Credits Created by Congress in 2000 to encourage investment in underserved areas Project must be in qualified census tract and serve low income community Credit is 39% tax credit over 7 years-financing-use of leverage structure most advantageous Tax credit investor through an investment fund makes a qualified equity investment (QEI) into a community development entity (CDE) (designated as such by CDFI Fund) who makes a loan to or investment in a qualified active low income community business (QALICB) Loan is long term, 7 years interest only, below market interest rate, flexible terms in DSCR and LTV- estimate 15-20% economic advantage over conventional 8
9 Federal Tax Incentives Historic Tax Credits: Certified historic structures eligible for 20% credit Application process to National Park Service Available for commercial, industrial, agricultural or residential rental Basic requirements: Must be listed on the national register of historic places, post-rehab must be income producing for 5 years substantial rehabilitation test- cost of rehab must exceed prerehabilitation cost of building- cost must exceed greater $5,000 or the building s adjusted basis rehabilitation must meet Secretary of Interior standards Credit taken against certified qualified rehabilitation expenditures as of date placed in service 10% credit for non-historic buildings placed in service before
10 Federal Tax Incentives Low Income Housing Tax Credits (LIHTC) 9% competitive credit for new const and substantial rehab 4% credit for acquisition cost or if 50% project costs financed with tax-exempt bonds Must be qualified low income housing project meeting 20% units occupied by persons whose income is 50 percent or less of the area median gross income or 40/60 test IRS regulations/program restrictions for life of bonds-must be residential rental property HMFA as the issuing entity and credit allocating agency Need to use eligible basis to determine qualified basis (based on low income units)- 4% or 9% is the tax credit rate multiplied against qualified basis to determine initial allocation Eligible costs must be depreciable 10
11 NJ Redevelopment Financing Redevelopment Area Bonds: Local & State Authorities may issue bonds project s land tax revenue to aid community development projects General Obligation Bonds: Local & State Authorities may issue general obligation bonds to aid community development projects Revenue Bonds: Local & State Authorities can authorize revenue bonds by resolution secured by project revenues/mortgage (and can be used for site access, remediation, pre-development or infrastructure costs) Grant/Loans: Local & State Authorities may make loans to finance projects or redevelopment work, or may make capital grants if it finds that the project would not be undertaken, or undertaken in its intended scope, but for the provision of financial assistance 11
12 NJ State Tax Credits and Incentives Grow NJ Economic Redevelopment and Growth Grants Local grants State grants Qualified residential tax credits Mixed use parking projects Brownfields Site Remediation Program 12
13 Professional Ethics & Responsibility Community Development Considerations Knowing Your Client/Client Due Diligence Scope of Engagement Competitive Applications Partnerships & Corporations (GP vs. Partnership) Conflicts Pay-To-Play Restrictions* 13
14 Community & Client Participation Community Development Considerations Joint Venture Arrangements Public-Private Partnerships (P3s) Communications with the Community Charette Transparency to the Public Lawyer Engagement Direct Community Benefit Project Components 14
15 Where It s Working: Plainfield Developer acquired site with historical contamination that has remain vacant forover 16 years. The project will be undertaken in two phases which shall consist of the development of a 44,000 sq. ft. warehouse to preserve jobs and the creation of 96 new affordable housing units. Use of NMTC financing for the commercial phase, 2 Financial Agreements with City of Painfield, and potentially 9% LIHTC for the residential phase. Complications incl. tax structuring different each transaction, limitations under a 16 year old grant for environmental remediation, intercreditor issues and the competitive nature of the LIHTC. 15
16 16
17 Where It s Working: Millville JV Project between Millville Urban Redevelopment Arts & Innovation Center Corporation, Cumberland County and the Cumberland County Improvement Authority New Markets Tax Credits transaction that financed construction, development, ownership and leasing of a 19,665 square foot, two-story building with approximately 49 accessory parking spaces for Cumberland County College Leveraged Sources County Bonds, County College Bonds & NJDCA Grant Facility was used for College s ceramic, visual and graphic arts program & community space 17
18 Where It s Working: Newark Developer compiled multiple parcels to build 6 new buildings The Teachers Village project consists of the development and construction in Newark, New Jersey, of six buildings over five neighborhood blocks including four schools occupying approximately 88,00 square feet of school space, 65,000 square feet of commercial retail space and 204 apartment units marketed to teachers on a priority basis. Project financed in three phases Use of three separate NMTC transactions with 8 different CDEs and 2 tax credit investors, a Financial Agreement with City of Newark, a RAB issued by the NJEDA used as leverage, Urban Transit Hub Tax Credits securitized by a loan used as leverage, Qualified School Construction Bonds used as leverage, loans from CRDA and BCDC, direct loans from financial institutions Complications incl. tax structuring different each transaction, multiple 18 affiliated entities, intercreditor issues
19 Mixed Use Project NMTC Financing 19
20 Summary of Considerations Tax limitations and benefits Corporate structure Size of the project Community benefits Support for the project Community Political Financial Fix your problems first Get the best team together 20
21 Please feel free to contact us: 75 Livingston Avenue Roseland, New Jersey (973)
Combining the Historic Tax Credit with Other Tax Credits (New Markets) February 5, 2009
Combining the Historic Tax Credit with Other Tax Credits (New Markets) February 5, 2009 Don Nimey don.nimey@reznickgroup.com Phone: 301-280-1846 New Markets Tax Credit Program Enacted on December 21, 2000
More informationTax Credit Finance Primer. Tim Favaro. Partner Cannon Heyman & Weiss, LLP.
Tax Credit Finance Primer Tim Favaro Partner Cannon Heyman & Weiss, LLP tfavaro@chwattys.com New Markets Tax Credit & Historic Tax Credit 101 New Markets Tax Credit Program: Background Codified in Section
More informationOpening Doors to Affordable Mixed-Use Development
Opening Doors to Affordable Mixed-Use Development 1 Housing Colorado October 5, 2016 2 Session Objectives Learn: The Basics of Low-Income and Historic Tax Credits, including recent Colorado LIHTC program
More informationLow Income Housing Tax Credits 101 (and a little beyond 101) James Lehnhoff, Municipal Advisor
Low Income Housing Tax Credits 101 (and a little beyond 101) James Lehnhoff, Municipal Advisor 9/29/2017 1 Affordable Housing Need What is Affordable? Overview Why do affordable housing projects need financial
More informationThe Legal and Financial Facets of Historic Tax Credits
California Preservation Foundation From Dollars & Cents to Success: Financial Incentive Programs for Historic Preservation February 10, 2016 The Legal and Financial Facets of Historic Tax Credits Roy Chou,
More informationFinancing Historic Theaters Historic Preservation Tax Credits
Financing Historic Theaters Historic Preservation Tax Credits Heritage Ohio Annual Revitalization and Preservation Conference October 6, 2015 Chad Arfons, McDonald Hopkins LLC Federal Historic Preservation
More informationHousing 101: Getting Started Development Finance Basics
Housing 101: Getting Started Development Finance Basics 23 rd Annual Statewide Housing Conference February 26, 2014 1 Challenges to Developing Affordable Housing Costs the same to develop whether rents
More informationMultifamily Housing Development Notice of Funding Availability
Multifamily Housing Development Notice of Funding Availability A Briefing to the Housing Committee Housing/Community Services Department December 5, 2016 Purpose Discuss the Notice of Funding Availability
More information2019 9% Competitive Housing Credit Application
2019 9% Competitive Housing Credit Application Application Checklist This checklist includes all the items from the CFA application and the LIHTC Addendum that are required for the 2019 9% Application
More informationSTRUCTURING, FINANCING, AND INCENTIVIZING RETAIL DEVELOPMENT ALEX FLACHSBART JUNE 16, 2016 ACE WORKSHOP CLANTON, AL
STRUCTURING, FINANCING, AND INCENTIVIZING RETAIL DEVELOPMENT ALEX FLACHSBART JUNE 16, 2016 ACE WORKSHOP CLANTON, AL What deal structures drive economic development? How do we finance and incentivize those
More informationThis document is available via in a Microsoft Word format upon request. LOW INCOME HOUSING TAX CREDIT PROGRAM APPLICATION
This document is available via e-mail in a Microsoft Word format upon request. Development Name: LOW INCOME HOUSING TAX CREDIT PROGRAM APPLICATION DELAWARE STATE HOUSING AUTHORITY STATE OF DELAWARE Part
More informationINTRODUCTION TO FEDERAL LOW INCOME HOUSING TAX CREDITS. 1. Applicable Percentage
INTRODUCTION TO FEDERAL LOW INCOME HOUSING TAX CREDITS I. THE TAX CREDIT GENERALLY a. Established under the Tax Reform Act of 1986. Essentially an effort to partially privatize the affordable housing industry.
More informationDATE: TO OWNER: Washington State Housing Finance Commission Low-Income Housing Tax Credit Program 1000 Second Avenue Suite 2700 Seattle WA
INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT'S REPORT on CARRYOVER ALLOCATION BASIS PURSUANT TO IRS SECTION 42 (h)(1)(e)(ii) and AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA) EXCHANGE PROGRAM 30% TEST PURSUANT
More informationU.S. Housing Act of 1937
SERC/NAHRO Conference Norfolk, Virginia June 25, 2018 U.S. Housing Act of 1937 Another New Deal initiative designed to relieve conditions in the nation's housing stock This was the beginning of Public
More informationCenter for Creative Land Recycling. Education Series: Financing Municipal Redevelopment
Center for Creative Land Recycling Education Series: Financing Municipal Redevelopment 1 The Value of Time in Risk Management Affects of Risk on the Cost of Capital; The Capital Stack: Equity, Mezzanine,
More informationStatement in Response to the Senate Finance Committee s Request for Comments on Comprehensive Tax Reform. July 17, 2017
Statement in Response to the Senate Finance Committee s Request for Comments on Comprehensive Tax Reform July 17, 2017 The Local Initiatives Support Corporation (LISC) is pleased to provide recommendations
More informationCHAPTER Committee Substitute for Committee Substitute for House Bill No. 437
CHAPTER 2013-83 Committee Substitute for Committee Substitute for House Bill No. 437 An act relating to community development; amending s. 159.603, F.S.; revising the definition of qualifying housing development
More informationFUNDING SOURCES FOR AFFORDABLE HOUSING IN HANCOCK COUNTY, MAINE
FUNDING SOURCES FOR AFFORDABLE HOUSING IN HANCOCK COUNTY, MAINE March 2013 Prepared by: Hancock County Planning Commission, 395 State Street Ellsworth, ME 04605 www.hcpcme.org voice: 207-667-7131 Fax:
More informationNew York State and Federal Historic
1 New York State and Federal Historic Rehabilitation Tax Credits Co Sponsor: Preservation League of New York State www.preservenys.org 2 New York State and Federal Historic Rehabilitation Tax Credits New
More informationConnecticut Housing Finance Authority
Connecticut Housing Finance Authority Low-Income Housing Tax Credit Qualified Allocation Plan 2013 Application Year Table of Contents Table of Contents I. FEDERAL REQUIREMENTS... 3 II. STATE HOUSING PLANS...
More informationCITY OF SASKATOON COUNCIL POLICY
ORIGIN/AUTHORITY Planning and Development Committee Report No. 26-1990; Legislation and Finance Committee Report No. 42-1990; City Commissioner s Report No. 29-1990, and further amendments up to and including
More informationHistoric Tax Credit Presentation Date: March 22, 2016
Historic Tax Credit Presentation Date: March 22, 2016 Today s Presenter(s): Lynn Wickham Hartman (319) 896-4083 lhartman@simmonsperrine.com Matthew J. Hektoen (319) 896-4030 mhektoen@simmonsperrine.com
More informationNEIGHBORHOOD HOMES INVESTMENT ACT
NEIGHBORHOOD HOMES INVESTMENT ACT Poor and blighted neighborhoods present a fundamental challenge to addressing poverty, crime, education, and economic mobility. 1 Moderate- and middle-income homeowners
More informationBay Area Consor,um of Community Land Trusts. Strategy for Community Stabiliza3on in the SF Bay Area
Bay Area Consor,um of Community Land Trusts Strategy for Community Stabiliza3on in the SF Bay Area Displacement Crisis in Berkeley Displacement Risk Typologies (by Census Tract): The Urban Displacement
More informationBRIDGING THE GAP: LEVERAGING ENERGY EFFICIENCY, FINANCING, AND UTILITY INCENTIVES FOR MODERATE REHAB PROJECTS
BRIDGING THE GAP: LEVERAGING ENERGY EFFICIENCY, FINANCING, AND UTILITY INCENTIVES FOR MODERATE REHAB PROJECTS ACEEE ENERGY EFFICIENCY AS A RESOURCE SEPTEMBER 22, 2015 Mark Pignatelli, ICF International
More informationBy Delphine G. Carnes
2014 LEGAL SEMINAR By Delphine G. Carnes Crenshaw, Ware & Martin, P.L.C. WHY RAD? Enormous backlog in needed renovations to public housing units Insufficient federal funding HOPE VI and CNI are no longer
More informationOregon, Brownfields, and the Land Bank and Tax Abatement Authorities. How Does It All Work And Why Cities and Counties Should Be Interested
Oregon, Brownfields, and the Land Bank and Tax Abatement Authorities How Does It All Work And Why Cities and Counties Should Be Interested Presented By David A. Rabbino, Esq. Jordan Ramis PC April 30,
More informationHousing Credit Modernization Becomes Law
Housing Credit Modernization Becomes Law July 30, 2008 President Bush today signed into law the most significant modernization of Low Income Housing Tax Credits since 1989, as part of the Housing and Economic
More informationRecent Success Stories in Alabama. Public and Private Sectors Working Together to Lure Major Industry to Alabama 2017
Recent Success Stories in Alabama Public and Private Sectors Working Together to Lure Major Industry to Alabama 2017 Airbus Mobile 2005 to 2017 Started as joint venture between EADS (now Airbus) and Northrop
More informationCT Main Street Torrington
CT Main Street Torrington Downtown Development Audit Audit 1. Tour downtown to identify buildings that have the potential to enhance the downtown and add value 2. Analyze regulatory environment and land
More informationFlorida Housing Finance Corporation Qualified Allocation Plan Low Income Housing Tax Credits Program
Florida Housing Finance Corporation 2016 2017 Qualified Allocation Plan Low Income Housing Tax Credits Program I. Introduction Pursuant to Section 420.5099, Florida Statutes, the Florida Housing Finance
More informationHistoric Tax Credits: Leveraging History to Rebuild Legacy Cities. Jason Yots, Esq. ~ November 14, 2016
Historic Tax Credits: Leveraging History to Rebuild Legacy Cities Jason Yots, Esq. ~ November 14, 2016 Today s Discussion Why do legacy cities need tax credits? The historic tax credit program The Mattress
More informationExhibit A Project Specifications
Exhibit A Project Specifications A one block area of West Columbia Street in downtown Fort Wayne is bounded by Calhoun Street to the east and Harrison Street to the West. It is this area historically referred
More informationMonroe County, Tennessee Property Tax Incentive Program Policies and Procedures
Monroe County, Tennessee Property Tax Incentive Program Policies and Procedures Revised 1/2010 MONROE COUNTY, TENNESSEE PROPERTY TAX INCENTIVE PROGRAM POLICIES AND PROCEDURES Section I General Purpose
More informationNaturally Occurring Affordable Housing Preservation. March 1, 2018
Naturally Occurring Affordable Housing Preservation March 1, 2018 Agenda Miami Affordable Housing Preservation Subsidized and NOAH Preservation NOAH Inventory Solutions Capital Capacity Policy 2 NOAH NOAH
More informationDRAFT FOR PUBLIC COMMENT
WASHINGTON COUNTY CDA SELF-SCORING WORKSHEET 2020 LOW INCOME HOUSING TAX CREDIT PROGRAM Development Name Address/City Owner Name MINIMUM THRESHOLD REQUIREMENTS All Round 1 applicants for 9% LIHTC must
More informationUNIT INFORMATION (Complete the yellow-shaded areas) Gross monthly rent per. # of baths
Project Name: Project #: UNIT INFORMATION (Complete the yellowshaded areas) Residential Finished Sq. Ft. per unit* Gross monthly rent per Less tenant paid Net monthly rent per # of bedrooms per unit #
More informationPage 1 of 8 Highlands County, Florida, Code of Ordinances >> - CODE OF ORDINANCES >> Chapter 5.4 - HOUSING >> ARTICLE II. STATE HOUSING INITIATIVES PARTNERSHIP PROGRAM >> ARTICLE II. STATE HOUSING INITIATIVES
More informationCity of Watsonville Community Development Department M E M O R A N D U M
CITY COUNCIL 9.A.1. City of Watsonville Community Development Department M E M O R A N D U M DATE: February 8, 2016 TO: FROM: SUBJECT: Charles A. Montoya, City Manager Keith Boyle, Acting Community Development
More informationDeveloper Non Managing Member- Historic Tax Credit Investor. Managing Member- Developer. Developer Fee Capital Contribution Tax Capital Contributions
Developer Managing Member- Developer Non Managing Member- Historic Tax Credit Investor Developer Fee Capital Contribution Tax Credits Capital Contributions Building Owner LLC/ Master Landlord Managing
More informationHistoric Tax Credits Overview
Historic Tax Credits Overview 20% or 10% tax credit to rehabilitate a certified historic or very old structure (built prior to 1936) Must be taxable income producing property and rehabilitation must be
More informationOctober Housing Affordability in Colorado. federal resources
October 2018 Housing Affordability in Colorado federal resources Contents Government-sponsored Enterprises 2 (GSEs) Fannie Mae, Freddie Mac, and Federal Home Loan Banks U.S. Department of Housing and 2
More informationWelcome. Confronting Foreclosure and Promoting Brownfield Redevelopment. Training for Local Officials and Staff. March 23, 2009
Welcome Confronting Foreclosure and Promoting Brownfield Redevelopment Training for Local Officials and Staff March 23, 2009 AGENDA: Welcome and Introductions Doug Weiland, Executive Director, Genesee
More informationAnalyzing the Impact of the Financial Crisis on LIHTC Property Values. National Council of Affordable Housing Marketing Analysts November 9, 2009
Analyzing the Impact of the Financial Crisis on LIHTC Property Values National Council of Affordable Housing Marketing Analysts November 9, 2009 David Fournier dfournier@arausa.com THE CLIFF Total Apartments
More informationOVERVIEW OF HOUSING TAX CREDITS
OVERVIEW OF HOUSING TAX CREDITS Under the provisions of the Tax Reform Act of 1986, a federal Housing Tax Credit (HTC) was created to encourage the development of rental housing for limited income households.
More informationPlanning Successful Historic Tax Credit Rehabilitation Projects
Lafayette Building, Butler, PA Planning Successful Historic Tax Credit Rehabilitation Projects Program overview Who uses the credit? Eligibility requirements Application and review process Best practices
More informationAugust 16, Nia Ray, Director Oregon Department of Revenue 955 Center Street NE Salem, OR Dear Ms. Ray,
Nia Ray, Director Oregon Department of Revenue 955 Center Street NE Salem, OR 97301 Dear Ms. Ray, With this letter, in accordance with Oregon Revised Statutes (ORS) 285C.650(1)(f), ORS 285C.656(1)(c),
More informationCHAPTER V: IMPLEMENTING THE PLAN
CHAPTER V: IMPLEMENTING THE PLAN A range of resources is available to fund the improvements included in the Action Plan. These resources include existing commitments of County funding, redevelopment-related
More information2018 Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund - Final
March 8, 2018 2018 Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund - Final Background Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund (PHARE) The PHARE Fund
More informationTransit Oriented Workforce Housing Solutions
Transit Oriented Workforce Housing Solutions Prepared for: Rail~Volution Presented by: Jeff Minter September 9, 2005 Presentation Agenda Workforce Housing - Vision and Approach Quality and Place Making
More informationModels for Vacant Property Disposition and Community Stabilization
Models for Vacant Property Disposition and Community Stabilization Mark McDermott, Vice President, Central Region Director Enterprise Community Partners Federal Reserve: October 20, 2008 The Enterprise
More informationDIFFERENCES BETWEEN THE HISTORIC REHABILITATION TAX CREDIT AND THE LOW-INCOME HOUSING TAX CREDIT
DIFFERENCES BETWEEN THE HISTORIC REHABILITATION TAX CREDIT AND THE LOW-INCOME HOUSING TAX CREDIT Andrew S. Potts NIXON PEABODY LLP 401 Ninth Street NW Washington, D.C. 20004 apotts@nixonpeabody.com. 202-585-8337
More informationDeveloping and Financing Ancillary Facilities
Developing and Financing Ancillary Facilities Agenda Mixed Use Trends Development Process Own vs Lease Financing Structures Case Studies 2 Ullom s Rules of Lawyer Competency There exists in nature an inverse
More informationBrownfield Financing
Brownfield Financing Christina Kelly Genesee County Land Bank Authority Genesee County Brownfield Redevelopment Authority Dan Kildee Genesee County Treasurer Presentation Outline I. About Brownfields II.
More informationCHAPTER TAX CREDITS AND SUBSIDY LAYERING. The Table of Contents
UNIT 12.0 PRESERVATION CHAPTER 12.10 TAX CREDITS AND SUBSIDY LAYERING The Table of Contents 12.10.1 Purpose.. I-1 12.10.2 Applicability.. I-2 12.10.3 Definitions and Acronyms... I-2 12.10.4 LIHTC s and
More informationSaskatchewan Municipal Financing Tools
Saskatchewan Municipal Financing Tools The following is a list of financing tools currently available to Saskatchewan municipalities. Authority for a municipality to use any of these tools is provided
More informationdevelopment beyond redevelpment OPPORTUNITIES FOR COMMUNITY ECONOMIC DEVELOPMENT
development beyond redevelpment OPPORTUNITIES FOR COMMUNITY ECONOMIC DEVELOPMENT Revitalizing Communities Now, more than ever, local governments face unique challenges. Communities must continue to meet
More informationTax Credits 101. Wednesday, November 7 10:45am 12:00pm
Tax Credits 101 Wednesday, November 7 10:45am 12:00pm Today s Panel Kevin Clark Ohio Housing Finance Agency (OHFA) Brian Graney Ohio Capital Corporation for Housing Meg Manley PIRHL, LLC Tim Swiney Wallick
More informationProfessional Certification Programs
Professional Certification Programs Participants in NDC training, including staff members of Housing and Economic Development Networks, State and Local Governments, Community Development Banks and Charitable
More informationIntroductory Training on Section 8 PBRA, HCV, PBV and TPV. Emily Blumberg and Jed D Abravanel Klein Hornig LLP Thursday, April 6, 2017
Introductory Training on Section 8 PBRA, HCV, PBV and TPV Emily Blumberg and Jed D Abravanel Klein Hornig LLP Thursday, April 6, 2017 Training Overview Section 8 s Alphabet Soup 1. PBRA 2. HCV 3. PBV 4.
More informationDavis and Sargent Mill Building
Davis and Sargent Mill Building Lowell, MA Nobis Engineering, Inc Adaptive Reuse Project Presented by Fred Phillips, Overlook Associates, LLC Miriam Sheehan, Nolan Sheehan Patten, LLP Why this Project
More informationBelow Market Rate (BMR) Housing Mitigation Program Procedural Manual
Below Market Rate (BMR) Housing Mitigation Program Procedural Manual Amended and Adopted by City Council May 5, 2015 Resolution No. 15-037 City of Cupertino Housing Division Department of Community Development
More informationIncentives and Tools for Downtown Development. Bob Murphrey NC Department of Commerce Urban Development Division
Incentives and Tools for Downtown Development Bob Murphrey NC Department of Commerce Urban Development Division Public Private Partnerships and Downtown Development Public Private Partnerships can provide
More informationASSEMBLY, No STATE OF NEW JERSEY. 218th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 2018 SESSION
ASSEMBLY, No. STATE OF NEW JERSEY th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 0 SESSION Sponsored by: Assemblyman JERRY GREEN District (Middlesex, Somerset and Union) SYNOPSIS Provides tax credit
More informationCity of Brandon Brownfield Strategy
City of Brandon Brownfield Strategy 2017 Executive Summary A brownfield is a property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous
More informationUnderstanding the Economics & Financing Structures of Moderately Priced Life Plan Communities
Understanding the Economics & Financing Structures of Moderately Priced Life Plan Communities 2 Today s Presenters Wayne Olson, Executive Vice President, Volunteers of America National Services Steve Kuhns,
More informationLeveraging Federal Funds
Saipan Economic Development Forum June 4, 2013 Jesse Wu, Director Office of Public Housing (HUD Honolulu Field Office) U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT The Development s (HUD) mission is
More informationBernalillo County Project Revenue Bond Application Approval. Bernalillo County Commission Board Meeting Date: September 27, 2016 A.
Bernalillo County Project Revenue Bond Application Approval Bernalillo County Commission Board Meeting Date: A. Executive Summary 1. Applicant: La Vida Nueva Housing, L.P. 2. Project Location: 1200 Dickerson
More informationOperations and Accomplishments
Operations and Accomplishments - 2016 The Suffolk County Industrial Development Agency (IDA) is a public benefit corporation of the State of New York created in 1975, pursuant to Article 18A of the General
More informationFrequently Asked Questions Regarding the FY-2016 Rental Production NOFA
Frequently Asked Questions Regarding the FY-2016 Rental Production NOFA These FAQ s provide answers to common questions regarding MHDC s FY-2016 NOFA application process. The FAQ is divided into three
More informationTHE BIPARTISAN HOUSING FINANCE REFORM ACT SUMMARY OF KEY PROVISIONS
OVERVIEW Americans deserve a better single family housing finance model one that s sustainable and built to last. Sustainable for homeowners so they can keep their homes; sustainable for taxpayers so they
More informationCentral Bank of Kansas City New Markets Tax Credit Program Transaction Intake Form & Community Impact Questionnaire
CBKC and CBKC CDC, L.L.C., are equal opportunity providers CBKC CDC, L.L.C. 2301 Independence Boulevard Kansas City, MO 64124 Phone (816)-483-1210 Fax (816)-483-2586 Central Bank of Kansas City New Markets
More informationPlan Making and Implementation AICP EXAM REVIEW. February 12-13, 2010 Georgia Tech Student Center
Plan Making and Implementation AICP EXAM REVIEW February 12-13, 2010 Georgia Tech Student Center Plan Making and Implementation A. Visioning and goal setting B. Quantitative and qualitative research methods
More informationContents TABLE OF CONTENTS
Contents CHAPTER 1 Low-Income Housing Tax Credits and Year 15 17 1.01 Introduction 17 1.02 Overview of the LIHTC Program 18 [1] Land Use Restriction Agreement (LURA) 20 [2] Extended-Use Period 21 1.03
More informationTransit-Oriented Development Specialized Real Estate Services
COLLIERS INTERNATIONAL Transit-Oriented Development Specialized Real Estate Services Accelerating success. Colliers International transit-oriented development GROUP P. 1 2 transit-oriented development
More informationAFFORDABLE HOUSING 101. Jimmy McCune - OCCH Tim Swiney Wallick Communities Roy Lowenstein Lowenstein Development
AFFORDABLE HOUSING 101 Jimmy McCune - OCCH Tim Swiney Wallick Communities Roy Lowenstein Lowenstein Development Affordability in Housing Defined Generally refers to housing affordable to those who earn
More informationOVERVIEW OF TAX-EXEMPT AFFORDABLE HOUSING BONDS
1075 Peachtree Street, N.E. Suite 2500 Atlanta, GA 30309-3962 (404) 885-1500 Fax (404) 892-7056 www.seyfarth.com (404) 888-1883 direct danmcrae@mindspring.com dmcrae@seyfarth.com OVERVIEW OF TAX-EXEMPT
More informationCOMMUNITY FACILITY DEVELOPMENT. Community Economic Development Toolkit REAL ESTATE SERIES
TOOLKIT COMMUNITY FACILITY DEVELOPMENT Community Economic Development Toolkit REAL ESTATE SERIES Disclaimer This fact sheet was produced by the California Community Economic Development Association, in
More informationEXECUTIVE SUMMARY PARTNERSHIP INFORMATION PARTNERSHIP NAME: GENERAL PARTNER: GUARANTOR: PROPERTY INFORMATION
EXECUTIVE SUMMARY PARTNERSHIP INFORMATION PARTNERSHIP NAME: GENERAL PARTNER: GUARANTOR: PROPERTY INFORMATION PROPERTY NAME: PROPERTY LOCATION: PROPERTY TYPE Rural Urban Suburban CONSTRUCTION TYPE: New
More informationThe Sadowski Act Local Housing Trust Fund
The Sadowski Act SHIP Program: What s Happening Now The Sadowski Act Local Housing Trust Fund monies fund the local SHIP program in all 67 counties and 50 entitlement cities in Florida. Having a dedicated
More informationHOME PROGRAM /AFORDABLE HOUSING TRUST FUND HOUSING APPLICATION. Applicant Type Non-Profit For Profit Partnership CHDO Other.
HOME PROGRAM /AFORDABLE HOUSING TRUST FUND HOUSING APPLICATION 1. Profile* Applicant Type Non-Profit For Profit Partnership CHDO. APPLICANT NAME: CEO: ADDRESS: PHONE: Tax ID Number: DUNS Number: CITY:
More informationDraft Roosevelt Income Restricted Housing Analysis
APPENDIX F Draft Roosevelt Income Restricted Housing Analysis Prepared for: Presented by: Sound Transit May 5, 2016 C/o Jeff Lehman, KPFF 1601 5th Avenue, Suite1600 Seattle, WA 98101 (206) 622 5822 Jeff.Lehman@kpff.com
More informationDevelopment of Public Properties Downtown. June 4, 2013
Development of Public Properties Downtown June 4, 2013 2 Feasibility Criteria Analyzed all available properties in the downtown Property ownership (City or Successor Agency) Redevelopment Dissolution/Legal
More informationReadiness to Proceed Guide 2018 Affordable Housing Program
Readiness to Proceed Guide 2018 Affordable Housing Program Introduction The purpose of the Readiness to Proceed category is to reward affordable housing projects that have met certain development benchmarks
More informationHousing Assistance Incentives Program
Housing Assistance Incentives Program Adopted on March 28, 2016 Resolution No. 84-16 Table of Content Overview. 2 Definitions.. 2 Housing Assistance Incentives 5 Housing Trust Fund.. 7 City Owned Properties
More informationBrownfields. Jere Trey Hess, Chief Groundwater Assessment & Remediation Division April 2015
Brownfields Jere Trey Hess, Chief Groundwater Assessment & Remediation Division April 2015 What is a Brownfield Site? Real property, the expansion, redevelopment, or reuse of which may be complicated by
More informationFLORIDA S BROWNFIELDS REDEVELOPMENT PROGRAM
Division of Waste Management FLORIDA S BROWNFIELDS REDEVELOPMENT PROGRAM Brownfields 101 Presented to: 3 rd Annual Northwest Florida Brownfield Redevelopment Forum Callaway, Florida What Are Brownfields?
More informationStatus of Affordable Housing Litigation as of December 31, 2018
From: John N. Malyska To: Mayor Stuart Patrick and Borough Council CC: Michael Rohal, Borough Administrator Dated: December 31, 2018 Re: Status of Affordable Housing Litigation as of December 31, 2018
More informationAPPENDIX A RRIO CHECKLIST
APPENDIX A RRIO CHECKLIST APPENDIX B BOLTS PLUS STANDARDS APPENDIX C FINANCIAL TOOLS AND INCENTIVES The handouts on the following pages were distributed to property owners at a workshop. ADDITIONAL
More informationAPPLICATION FOR TAX INCENTIVES. Town of Clarence Industrial Development Agency
APPLICATION FOR TAX INCENTIVES Town of Clarence Industrial Development Agency 1 ELIGIBILIY QUESTIONNAIRE Section I: Applicant Background Information Please answer all questions. Use None or Not Applicable
More informationDISABILITY HOUSING NETWORK LOW INCOME HOUSING TAX CREDIT DEVELOPMENT
DISABILITY HOUSING NETWORK LOW INCOME HOUSING TAX CREDIT DEVELOPMENT OCTOBER 24, 2012 OHIO CAPITAL CORPORATION FOR HOUSING OCCH s mission is: to cause the construction, rehabilitation, and preservation
More informationAPPENDIX D FEDERAL, STATE AND LOCAL HOUSING PROGRAMS
APPENDIX D FEDERAL, STATE AND LOCAL HOUSING PROGRAMS Most of the new text in this discussion regarding the homeless population has been taken verbatim from the "Homeless and Very Low Income Housing Project:
More informationGuidelines for Priority Funding for Housing Performance
This document is made available electronically by the Minnesota Legislative Reference Library as part of an ongoing digital archiving project. http://www.leg.state.mn.us/lrl/lrl.asp Guidelines for Priority
More informationThe Affordable Housing Credit Improvement Act of 2016
The Affordable Improvement Act of 2016 S. 3237 Sponsored by Senator Maria Cantwell (D-WA) and co-sponsored by Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR), the
More informationREVISED COMMUNITY LEVERAGING ASSISTANCE INITIATIVE MORTGAGE (ReCLAIM) Pilot Phase of Program
REVISED COMMUNITY LEVERAGING ASSISTANCE INITIATIVE MORTGAGE (ReCLAIM) Pilot Phase of Program Program Overview and Request for Proposals (RFP) September 2014 The Pennsylvania Housing Finance Agency (PHFA)
More informationSTAFF REPORT. Date: March 13, Mayor and City Council. Sabra Newby, City Manager. Subject:
STAFF REPORT Date: March 13, 2019 To: Thru: Subject: From: Mayor and City Council Sabra Newby, City Manager C.11. Staff Report (For Possible Action): Discussion and potential approval of the terms and
More informationProperty Donation Program
Property Donation Program Supporting Local Housing and Property Resolution Initiatives September 2012 Overview The National Community Stabilization Trust maintains a national platform to facilitate the
More informationMultifamily Housing For All: The Need for Affordable Housing. Solutions for an Affordable Pittsburgh
Multifamily Housing For All: The Need for Affordable Housing Solutions for an Affordable Pittsburgh Agenda 1.What is the Affordable Housing Need in Pittsburgh? 2.The Affordable Housing Task Force 3.What
More informationAffordable Housing Gap and Economic Analysis
Affordable Housing Gap and Economic Analysis Town of Chapel Hill April 4, 2017 DAVID PAUL ROSEN & ASSOCIATES D EVELOPMENT, FINANCE AND POLICY ADVISORS Town of Chapel Hill PREPARED FOR: Town of Chapel Hill
More informationCHAUTAUQUA COUNTY LAND BANK CORPORATION
EXHIBIT H CHAUTAUQUA COUNTY LAND BANK CORPORATION LAND ACQUISITION AND DISPOSITION POLICIES AND PRIORITIES November 14, 2012 *This document is intended to provide guidance to the Chautauqua County Land
More information