Maximizing Credits in Year 1
|
|
- Virginia Freeman
- 6 years ago
- Views:
Transcription
1 Maximizing Credits in Year 1 George F. Littlejohn, CPA, HCCP Novogradac & Company LLP george.littlejohn@novoco.com
2 Let s go over Basic Concepts Multiple Building Election Minimum Set-Aside PIS Date (When can you claim credits)
3 Multiple Building Election Each building is considered a separate PROJECT under IRC 42(g)(3)(D) unless each building that is (or will be) part of the multiple-building project is identified by checking yes on Form 8609, line 8b.
4 Multiple Building Election You can combine or not combine any subset of buildings to create more than one project, based on PIS date, credit period, or what works best for your particular situation.
5 Minimum Set-Aside At least 20% of the available units are rented to households with incomes not exceeding 50% of (AMGI) adjusted for family size. At least 40% of the available units are rented to households with incomes not exceeding 60% of (AMGI) adjusted for family size.
6 Minimum Set-Aside The Minimum Set-Aside Test is determined on a Project Basis Single Building Project Multiple Building Project
7 Placed-in-Service Date Placed-in-Service Date When the building is ready and available for its intended use. Temporary Certificate of Occupancy Certificate of Occupancy. Architect s Certificate of Substantial Completion.
8 Placed-in-Service Date Acquisition / Rehab Acquisition different depending on whether the existing building is occupied at time of purchase. Rehabilitation date chosen by the Taxpayer when the minimum expenditure test is met.
9 How are Credits Delivered First year rule - 42(f)(2)(A) Credit are eligible for each full month that the building is in service. Unit must be occupied by tenant by the last day of the month.
10 Credit Delivery Strategy Managing Construction PIS Date Can create more available months. Managing Lease-up Tenants in units Can create more credits in each month.
11 Construction / Lease-up The End of the Year is CRITICAL! Manage your construction and leaseup. Not only do you need to meet your minimum set-aside, you have to lease ALL of your low-income units by 12/31 to avoid 15-year or 2/3 credits.
12 Acq/Rehab 120 Day Rule Household certified within 120 days of acquisition, the effective date is the acquisition date. Household certified more than 120 days after the acquisition, the household is treated as a new move-in.
13 Acquisition / Rehab Credit Period for Acquisition not to begin before credit period for Rehab ( 42(f)(5). Rev. Proc
14 Acquisition / Rehab Under 42(e)(4)(B) - The applicable fraction for Rehab is the applicable fraction for the underlying building.
15 LI Units for Acq/Rehab Existing tenants, under Rev. Proc New Move-ins Initial Income Certification. Transfers - income-qualified households that moved from other units within the project. ( Swap Status )
16 Acquisition / Rehab
17 Acq/Rehab Credit Strategy Understanding the Swap Status Rule Using the Multiple Building Election Move-ins vs. Transfers Vacant Unit Rule New Tenant Certification
18 Using Excess Eligible Basis Depends on State Agency and whether they adjust the credit percentage or eligible basis Line 2 and Line 3Aof the 8609
19 Using Excess Eligible Basis
20 Taxpayer 8609, Part II Taxpayer uses their actual eligible basis, NOT the amount from Part I
21 Taxpayer 8609-A Cannot create more credits per year than allocation, BUT can increase credits in first year.
22 Using Excess Eligible Basis Cannot create more credits per year than allocation, BUT can increase credits in first year.
23 Using Excess Eligible Basis Another Advantage May mitigate 15-year or 2/3rds Credit
24 Conclusion Communication Developer/Investor/Contractor/ Property Manager/Leasing Agent Strategy for Lease-Up Strategy for Construction / Rehab Plan your First Year Credit Delivery BEFORE the First Year
25 ?? QUESTIONS?? George F. Littlejohn, CPA, HCCP Novogradac & Company LLP (512)
While a project is typically acquired on a specific date
A Presentation of the National Association of Home Builders While a project is typically acquired on a specific date Building rehab (if there are multiple buildings) is typically completed building by
More informationAcq/Rehab Compliance. Jen Brewerton. Charles A. Rhuda III. Emily Bias. Stephanie Naquin. Matthew Rooney. Pillsbury Winthrop Shaw Pittman LLP
Acq/Rehab Compliance MODERATOR Charles A. Rhuda III Novogradac & Company LLP PANELISTS Emily Bias Pillsbury Winthrop Shaw Pittman LLP Stephanie Naquin Novogradac & Company LLP Jen Brewerton Dominium Matthew
More informationChapter 11 Category 11g Gross Rent(s) Exceed Tax Credit Limits
Chapter 11 Category 11g Gross Rent(s) Exceed Tax Credit Limits Definition Determination on a Tax Year Basis This category is used to report noncompliance with the rent restrictions outlined in IRC 42(g)(2).
More informationHAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION. Low Income Housing Tax Credit Compliance Manual
HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION Low Income Housing Tax Credit Compliance Manual Effective January, 2018 HAWAII COMPLIANCE MANUAL TABLE OF CONTENTS 1. Introduction to Manual 1-1. The
More informationPresented by: 2013 Zeffert & Associates All Rights Reserved
Presented by: & 2013 Zeffert & Associates All Rights Reserved The Goal of this Training The purpose of this training is to provide information for all interested personnel to successfully provide housing
More informationLouisiana Bankers Association CFO Conference. Baton Rouge Renaissance Hotel. Benny Jeansonne, CPA Partner Silas Simmons, LLP.
Louisiana Bankers Association CFO Conference May 21,2015 Baton Rouge Renaissance Hotel Benny Jeansonne, CPA Partner Silas Simmons, LLP Agenda Depreciation I. Current Law II. Cost Segregation III. Code
More informationHISTORIC REHABILITATION
HISTORIC REHABILITATION TAX CREDIT The Tax Basics Herbert F. Stevens NIXON PEABODY LLP 401 9th Street, N.W. Washington, D.C. 20004-2128 Direct Dial: 202.585.8811 Fax: 202.585.8080 E-Mail Address: hstevens
More informationTreasury Regulations 1.42
Treasury Regulations 1.42 1.42-1 [Reserved] 1.42-1T Limitation on low-income housing credit allowed with respect to qualified lowincome buildings receiving housing credit allocations from a State or local
More informationFinal Repair Regulations and the Impact on Owners of Investment Real Estate
Tom Scarpello Managing Partner 877.410.5040 Final Repair Regulations and the Impact on Owners of Investment Real Estate On September 13, 2013, the IRS released final regulations providing comprehensive
More information(a)-(g) [Reserved]. For further guidance, see T(a) through (g).
1.42-1 Limitation on low-income housing credit allowed with respect to qualified lowincome buildings receiving housing credit allocations from a State or local housing credit agency. (a)-(g) [Reserved].
More informationSection 42 Glossary. Annual Report by Taxpayer to the State Agency: See Certification to State Agency.
Section 42 Glossary Accelerated Portion of the Credit: The excess of the aggregate allowable credit during the 10-year credit period under IRC 42 over the aggregate credit that would have been allowable
More informationMassachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2014
Massachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2014 Presented By: Karen Kent, CPA, Partner, Kevin P. Martin & Associates, P.C. Kenneth Lund,
More informationPresented by: Anita Moseman
Verification of Information Presented by: Anita Moseman Verification Procedures Verification is a very important step 2 Verification Procedures Need to verify all information that determines income, assets,
More informationIn the context of a Major Disaster, this revenue procedure provides temporary
CASE MIS No.: RP-141793-11 Administrative, Procedural, and Miscellaneous 26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also:
More informationMassachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2016
Massachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2016 Presented By: Karen Kent, CPA, Partner, Kevin P. Martin & Associates, P.C. Kenneth Lund,
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 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 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 informationAudit & Compliance Department Barbosa Ave. 606 Juan C. Cordero Dávila Bldg. Rio Piedras, PR Phone Fax
COMPLIANCE MONITORING PLAN LOW INCOME HOUSING TAX CREDIT PROGRAM Audit & Compliance Department Barbosa Ave. 606 Juan C. Cordero Dávila Bldg. Rio Piedras, PR 00919 Phone 787-765-7577 Fax 787-300-3171 JULY
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 informationNovogradac LIHTC 101: The Basics Webinar Copyright 2016 Novogradac & Company LLP
Wayne Michael, CPA, NPCC, HCCP Director of Eternal Education Novogradac & Company LLP wayne.michael@novoco.com Tom Schneider, CPA Manager Novogradac & Company LLP tom.schneider@novoco.com 10-minute break
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 informationUsing NSP to Preserve Affordability. March 22, 2011
Using NSP to Preserve Affordability March 22, 2011 1 Using NSP to Preserve Affordability March 22, 2011 10 a.m. Pacific/ 1 p.m. Eastern Presenters Ron Whitman, Pima County Community Land Trust Staci Horwitz,
More informationTHE LIKE KIND EXCHANGE: A CURRENT REVIEW TABLE OF CONTENTS I. OVERVIEW... 1
THE LIKE KIND EXCHANGE: A CURRENT REVIEW TABLE OF CONTENTS Page I. OVERVIEW... 1 II. BASICS OF LIKE KIND EXCHANGES... 1 A. General Rules... 1 B. Exchanges... 17 C. Designations of Replacement Property
More informationAdventures in Section 1031
NYSBA Real Estate Section Advanced Real Estate Topics Adventures in Section 1031 Lana Kalickstein Roberts & Holland LLP December 12, 2016 1 Acquisition of Property for $150 A (an individual) LLC 1 $100
More informationTax Reform Update: Proposed Regulations on Bonus Depreciation
Tax Reform Update: Proposed Regulations on Bonus Depreciation Thursday, September 27, 2018 2:00-3:00 pm ET We will be starting soon Please disable pop-up blocking software before viewing this webcast Speakers
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 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 informationTABLE OF CONTENTS I. OVERVIEW... 1
TABLE OF CONTENTS I. OVERVIEW... 1 II. BASICS OF LIKE KIND EXCHANGES... 1 A. General Rules... 1 B. Exchanges... 21 C. Designations of Replacement Property -- Generally... 24 III. EXCHANGES WITH BOOT...
More informationInternal Revenue Code Section 25D Residential energy efficient property.
Internal Revenue Code Section 25D Residential energy efficient property. CLICK HERE to return to the home page Note: IRC Section 25D(a), following, is effective for periods before Jan. 1, 2017. For IRC
More informationMassachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2011
Massachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2011 Presented By: Marianne Heard, CPA, MST, Tax Director, Kevin P. Martin & Associates, P.C.
More informationB-11-MN April 1, 2014 thru June 30, 2014 Performance Report. Community Development Systems Disaster Recovery Grant Reporting System (DRGR)
Grantee: Grant: Southfield, MI B-11-MN-26-0011 April 1, 2014 thru June 30, 2014 Performance Report 1 Grant Number: B-11-MN-26-0011 Grantee Name: Southfield, MI Grant Award Amount: $1,084,254.00 LOCCS Authorized
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 informationCapital Cost Recovery Changes
College of William & Mary Law School William & Mary Law School Scholarship Repository William & Mary Annual Tax Conference Conferences, Events, and Lectures 1986 Capital Cost Recovery Changes B. Cary Tolley
More informationTax Credit Management Abilities
Web-Based, ASP Hosted, Enterprise Class Property Management Software Tax Credit Management Abilities Dear Property Manager, Property management software is becoming more and more complicated and loaded
More informationNSP Closeout for Grantees
U.S. Department of Housing and Urban Development Community Planning and Development NSP Problem Solving Clinic 2013 NSP Closeout for Grantees When can grantees close out? To close out, grantees must: Draw
More informationCHAPTER 1 LIHTC PROPERTY MANAGEMENT
Contents CHAPTER 1 LIHTC PROPERTY MANAGEMENT 19 1.01 Overview 19 1.02 Importance of a Good Property Manager 20 1.03 Minimum Set-Asides 20 1.04 Documentation 23 1.05 Proper Tenant File Retention Techniques
More informationSection 14. Changes in Median Gross Income
Section 14 Changes in Median Gross Income REVENUE RULE 94-57 1994-2 C.B. 5, 1994-37 I.R.B. 4. Internal Revenue Service Revenue Ruling LOW-INCOME HOUSING CREDIT; CHANGES IN AREA MEDIAN GROSS INCOME; TENANT
More informationManagement of Low-Income Housing Tax Credit Projects - Intermediate Requirements:
Management of Low-Income Housing Tax Credit Projects - Basic Requirements: This training is designed primarily for new site manager and supervisory property managers, and is especially beneficial to those
More informationValuation Issues. Lindsey Sutton Novogradac & Company LLP. Brad Weinberg Novogradac & Company LLP
Valuation Issues PANELISTS Lindsey Sutton Novogradac & Company LLP Brad Weinberg Novogradac & Company LLP Visit www.crowdmics.online/novocolihtc to send questions to the moderator Valuation Issues How
More informationTown of Watertown. Affordable Housing Development Requirements: Complying with Section 5.07
Town of Watertown Affordable Housing Development Requirements: Complying with Section 5.07 Be Informed If you are considering the development of a project that will trigger the Town s Inclusionary Zoning
More informationRental Process. Proportionate Lease-Up Requirement New Construction Properties. Counting Vacant Units to Meet Set-Aside Requirements
z Rental Process Rental Process & Reporting Procedures Residents of set-aside units must be income-qualified at move-in, and the income verifications must be dated prior to and within 120 days of the date
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 informationFederal Requirements. Summary To qualify for tax credits, a property must meet either the 20/50 or
Federal Requirements Summary To qualify for tax credits, a property must meet either the 20/50 or 40/60 test (see Chapter 1, Introduction, for explanation of the 20/50-40/60 test). All affordable unit
More informationChapter 8 Category 11e Changes in Eligible Basis
Chapter 8 Category 11e Changes in Eligible Basis Definition This category is used to report violations associated with the Eligible Basis of a building or any occurrence that result in a decrease in the
More informationImportant Notice Exhibit A Owner s Certificate of Continuing Program Compliance Line by Line Instructions
Important Notice Exhibit A Owner s Certificate of Continuing Program Compliance Line by Line Instructions The Missouri Housing Development Commission (MHDC) is offering line by line instruction for Exhibit
More information2017 SECTION 42 HOUSING TAX CREDIT PROGRAM COMPLIANCE MANUAL for
MINNEAPOLIS COMMUNITY PLANNING ECONOMIC DEVELOPMENT AGENCY 2017 SECTION 42 HOUSING TAX CREDIT PROGRAM COMPLIANCE MANUAL for MINNEAPOLIS - SAINT PAUL HOUSING FINANCE BOARD Minneapolis CPED Contact: Mr.
More informationManaging a Section 8, Section 236, PRAC/LIHTC Project
Managing a Section 8, Section 236, PRAC/LIHTC Project www.lizbramletconsulting.com www.lbctrainingcenter.com www.lizbramlet.wordpress.com HUD-Assisted Projects and LIHTC Across the country, owners are
More information2012 Low Income Housing Tax Credit Qualified Allocation Plan And On-Line Application Mandatory Developer Training Guide
2012 Low Income Housing Tax Credit Qualified Allocation Plan And On-Line Application Mandatory Developer Training Guide December 12, 2011 December 14, 2011 December 14, 2011 December 15, 2011 1:00 p.m.
More informationReinvesting With 1031 Exchange
Reinvesting With 1031 Exchange SEMINAR OUTLINE: Introduction and Learning Objectives... 2 1031 Exchange Rules: Myth or Fact?... 2 Non-Qualifying Replacement Property... 3 Exchanges with Special Challenges...
More informationQ&A September 23, 2011, 9 a.m. NSP III Multi Family Workshop City of Miami, City Hall, Commission Chambers
Q&A September 23, 2011, 9 a.m. NSP III Multi Family Workshop City of Miami, City Hall, Commission Chambers Question 1: Is this NSP for a property that is in foreclosure currently or a property that had
More informationOverview. Five Eligible NSP Uses. Meeting the 25% Set-Aside for Low-Income Persons
U.S. Department of Housing and Urban Development Meeting the 25% Set-Aside for Low-Income Persons Neighborhood Stabilization Program Neighborhood Stabilization Program Eligible uses Program activities
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 informationWYOMING COMMUNITY DEVELOPMENT AUTHORITY. Affordable Rental Housing Compliance Manual For Tax Credit, Bond and HOME Projects
WYOMING COMMUNITY DEVELOPMENT AUTHORITY Affordable Rental Housing Compliance Manual For Tax Credit, Bond and HOME Projects Effective January 1, 2013 TABLE OF CONTENTS 1. Introduction A. The Purpose of
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 informationManaging Compliance. Presented by Grace Robertson Internal Revenue Service November 17, 2009
Managing Compliance Presented by Grace Robertson Internal Revenue Service November 17, 2009 Introduction Objectives Guide for Completing Form 8823: Summary of Revisions Prioritize for Day-to-Day Operations
More informationWashington State Housing Finance Commission LIHTC Owner s Annual Certification. Federal Requirements
Washington State Housing Finance Commission LIHTC Owner s Annual Certification The Owner hereby certifies that: Federal Requirements 1. The project met the requirements of: the 20-50 test under section
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 informationJanuary 1, 2016 thru March 31, 2016 Performance Report
Grantee: Grant: Clark County, NV B-08-UN-32-0001 January 1, 2016 thru March 31, 2016 Performance Report 1 Grant Number: B-08-UN-32-0001 Grantee Name: Clark County, NV Grant Award Amount: $29,666,798.00
More informationDifferences, Procurement and
U.S. Department of Housing and Urban Development Developers and Subrecipients: Differences, Procurement and Other Rules July 24, 2012 2:00 PM EDT Community Planning and Development Purpose of Webinar To
More informationR E N O & C A V A N A U G H PLLC
Transactional Pitfalls and Challenges in Affordable Housing Development Outline Megan Glasheen, Julie McGovern & Dwayne Barrett Reno & Cavanaugh, PLLC Presentation will focus on the most active development
More informationHISTORIC TAX CREDIT IMPROVEMENT ACT OF 2017 (H.R. 425, S. 1158) SECTION-BY-SECTION SUMMARY
SEC. 6 MODIFICATIONS REGARDING CERTAIN TAX-EXEMPT USE PROPERTY. This provision would modify the disqualified lease rules to limit the definition of a disqualified lease to those leases that are part of
More informationNeighborhood Stabilization Program
Neighborhood Stabilization Program Neighborhood Stabilization Program What is the Neighborhood Stabilization Program? NSP was funded in 3 rounds to provide assistance to state and local governments to
More informationEXHIBIT E LOW INCOME HOUSING TAX CREDIT APPLICATION REQUIREMENTS
EXHIBIT E LOW INCOME HOUSING TAX CREDIT APPLICATION REQUIREMENTS A. Application for Tax Credit Reservation or Tax-Exempt Bond Conditional Commitment shall Include: 1. Complete application form (current
More informationHousing Tax Credit Carryover, 10 Percent Test, Evidence of Construction Start and Final Allocation Application Training Workshop. September 20, 2018
Housing Tax Credit Carryover, 10 Percent Test, Evidence of Construction Start and Final Allocation Application Training Workshop September 20, 2018 Table of Contents Topic Page Carryover Allocation Application
More informationJanuary 1, 2015 thru March 31, 2015 Performance Report
Grantee: Grant: West Palm Beach, FL B-08-MN-12-0030 January 1, 2015 thru March 31, 2015 Performance Report 1 Grant Number: B-08-MN-12-0030 Grantee Name: West Palm Beach, FL Grant Award Amount: $4,349,546.00
More informationMaximizing Economic Development and Job Creation with the 2011 Universal Cycle
Maximizing Economic Development and Job Creation with the 2011 Universal Cycle In preparing our response to the Draft White Paper posted on the FHFC website regarding Jobs Created by New Construction and
More informationJuly 1, 2015 thru September 30, 2015 Performance Report
Grantee: Grant: Brevard County, FL B-08-UN-12-0001 July 1, 2015 thru September 30, 2015 Performance Report 1 Grant Number: B-08-UN-12-0001 Grantee Name: Brevard County, FL Grant Award Amount: $5,269,667.00
More informationOctober 1, 2016 thru December 31, 2016 Performance
Grantee: Grant:, MN B-08-UN-27-0003 October 1, 2016 thru December 31, 2016 Performance 1 Grant Number: B-08-UN-27-0003 Grantee Name:, MN Grant Award Amount: $3,885,729.00 LOCCS Authorized Amount: $3,885,729.00
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 informationPutting Real Estate To Good Use: Current Issues with Obtaining
Putting Real Estate To Good Use: Current Issues with Obtaining Conservation Easement Deductions and Rehabilitation Tax Credits Panelists: Robert Honigman, Arent Fox LLP Lee Sheller, DLA Piper ABA Tax Section
More informationThe Tax Cuts and Jobs Act (P.L ) as signed by President Trump on December 22, Numerous provisions discussed below affect depreciation.
The Tax Cuts and Jobs Act (P.L. 115-97) as signed by President Trump on December 22, 2017. Numerous provisions discussed below affect depreciation. Code Sec. 179 Effective for tax years beginning after
More informationCover Sheet. City of Lakewood, Division of Community Development. Address Detroit Avenue, Lakewood, OH Phone
Cover Sheet Organization Organization Type City of Lakewood, Division of Community Development Municipal Government Address 12650 Detroit Avenue, Lakewood, OH 44107 Contact Person & Title Mary Leigh, Programs
More informationATTACHMENT A 2018 RESERVATION FEDERAL LOW INCOME RENTAL HOUSING TAX CREDIT PROGRAM CARRYOVER ALLOCATION REQUIREMENTS
ATTACHMENT A 2018 RESERVATION FEDERAL LOW INCOME RENTAL HOUSING TAX CREDIT PROGRAM CARRYOVER ALLOCATION REQUIREMENTS PART I The following requirements must be received in hard copy by the Agency by November
More informationApril 1, 2012 thru June 30, 2012 Performance Report
Grantee: Elyria, OH Grant: B-08-MN-39-0007 April 1, 2012 thru June 30, 2012 Performance Report 1 Grant Number: B-08-MN-39-0007 Grantee Name: Elyria, OH Grant Amount: $2,468,215.00 Estimated PI/RL Funds:
More informationHC FINAL COST CERTIFICATION FORM AND INSTRUCTIONS
HC FINAL COST CERTIFICATION FORM AND INSTRUCTIONS The Final Cost Certification Application (FCCA) must be completed by the Applicant and returned to Florida Housing along with an unqualified audit report
More informationU.S. Department of Housing and Urban Development. Meeting the 25% Set-Aside for Low-Income Persons
U.S. Department of Housing and Urban Development Meeting the 25% Set-Aside for Low-Income Persons Neighborhood Stabilization Program Neighborhood Stabilization Program Overview Eligible uses Program activities
More informationManaging Capitalization and Expense Depreciation
Managing Capitalization and Expense Depreciation PRESENTED BY: TRACY MONROE, CPA, MT, PARTNER LISA LOYCHIK, CPA, PARTNER JON WILLIAMSON, CPA, MT, MANAGER July 10, 2018 Welcome & Introductions Tracy Monroe,
More informationVALUATION OF GOODWILL FOR TAX PURPOSES
1 VALUATION OF GOODWILL FOR TAX PURPOSES James P. Catty President, Corporate Valuation Services Limited Chair, International Association of Consultants, Valuators and Analysts 2 All businesses have these
More informationVHFA FEDERAL HOUSING CREDIT APPLICATION & VERMONT STATE AFFORDABLE HOUSING TAX CREDIT APPLICATION SUPPLEMENT
VHFA FEDERAL HOUSING CREDIT APPLICATION & VERMONT STATE AFFORDABLE HOUSING TAX CREDIT APPLICATION SUPPLEMENT Syndication Information Provide information below concerning syndication and estimated proceeds
More informationB-08-UN April 1, 2015 thru June 30, 2015 Performance Report. Community Development Systems Disaster Recovery Grant Reporting System (DRGR)
Grantee: Grant: Lee County, FL B-08-UN-12-0009 April 1, 2015 thru June 30, 2015 Performance Report 1 Grant Number: B-08-UN-12-0009 Grantee Name: Lee County, FL Grant Award Amount: $18,243,867.00 LOCCS
More information2. Our community wants to demolish some blighted properties. How can we meet a CDBG national objective with this activity?
ENTITLEMENT CDBG PROGRAM FAQs ON MEETING A NATIONAL OBJECTIVE WITH ACQUISITION, DEMOLITION, AND DISPOSITION 1. What are the basic principles to meet eligibility and national objective requirements? As
More informationREALTORS CONTINUING EDUCATION SEMINAR
REALTORS CONTINUING EDUCATION SEMINAR THE ABANDONED BUILDING REVITALIZATION AND RETAIL REVITALIZATION ACTS May 2015 Burnet R. Maybank, III bmaybank@nexsenpruet.com Tushar V. Chikhliker tushar@nexsenpruet.com
More informationFACT SHEET. Depreciation of Farm Drainage Tile. Agriculture and Natural Resources OAM-1-12
FACT SHEET Agriculture and Natural Resources OAM-1-12 Depreciation of Farm Drainage Tile Wm. Bruce Clevenger OSU Extension Educator and Assistant Professor Introduction Agriculture is one of Ohio s largest
More informationAtypical Owner- Occupant Situations. Robert N Merryman O R Colan Associates
Atypical Owner- Occupant Situations Robert N Merryman O R Colan Associates RMerryman@orcolan.com Refresh the General Rules Displaced 90-day residential owner-occupants of a dwelling are eligible for a
More informationKPMG report: Proposed bonus depreciation regulations and 2018 filing season: Opportunities and pitfalls
KPMG report: Proposed bonus depreciation regulations and 2018 filing season: Opportunities and pitfalls August 9, 2018 The U.S. Treasury Department and IRS on August 3, 2018, released for publication in
More informationHOME Investment Partnerships Program FAQs
HOME Investment Partnerships Program FAQs Last Updated: December 30, 2015 Description: This document contains the HOME Investment Partnerships Program FAQs posted on the HUD Exchange website (https://www.hudexchange.info/home/).
More informationUndivided Fractional Interest In Rental Real Property
April 28, 2002 About Exchanges Services Knowledge Base Contact Us About the Firm Featured Properties Undivided Fractional Interest In Rental Real Property Part III Administrative, Procedural, and Miscellaneous
More informationApril 1, 2014 thru June 30, 2014 Performance Report
Grantee: Grant: Prince Georges County, MD B-11-UN-24-0002 April 1, 2014 thru June 30, 2014 Performance Report 1 Grant Number: B-11-UN-24-0002 Grantee Name: Prince Georges County, MD Grant Award Amount:
More information5. The cost of buildings includes all necessary costs related to the purchase or construction
CHAPTER REVIEW Plant Assets 1. (S.O. 1) Plant assets are tangible resources that are used in the operations of a business and are not intended for sale to customers. Plant assets are subdivided into four
More informationEXHIBIT E FORM OF CERTIFICATE OF CDLAC PROGRAM COMPLIANCE. T. Bailey Manor Apartments
EXHIBIT E FORM OF CERTIFICATE OF CDLAC PROGRAM COMPLIANCE Project Name: Name of Bond Issuer: T. Bailey Manor Apartments City of Los Angeles CDLAC Application No.: 15-331 Pursuant to Section 13 of Resolution
More informationU.S. Department of Housing and Urban Development Community Planning and Development
U.S. Department of Housing and Urban Development Community Planning and Development Special Attention of: Notice: CPD 98-2 All Secretary's Representatives All State/Area Coordinators Issued: March 18,
More informationJanuary 1, 2012 thru March 31, 2012 Performance Report
Grantee: Elyria, OH Grant: B-08-MN-39-0007 January 1, 2012 thru March 31, 2012 Performance Report 1 Grant Number: B-08-MN-39-0007 Grantee Name: Elyria, OH Grant Amount: $2,468,215.00 Estimated PI/RL Funds:
More informationJuly 1, 2011 thru September 30, 2011 Performance Report
Grantee: Pinellas County, FL Grant: B-08-UN-12-0015 July 1, 2011 thru September 30, 2011 Performance Report 1 Grant Number: B-08-UN-12-0015 Grantee Name: Pinellas County, FL Grant Amount: $8,063,759.00
More informationApril 1, 2017 thru June 30, 2017 Performance Report
Grantee: Grant: Orange County, FL B-08-UN-12-0012 April 1, 2017 thru June 30, 2017 Performance Report 1 Grant Number: B-08-UN-12-0012 Grantee Name: Orange County, FL Grant Award Amount: $27,901,773.00
More informationNYS HOME Local Program
NYS HOME Local Program Homebuyer Development Projects Technical Assistance Webinar October 10, 2018 Welcome and Introductions Ann M. Petersen, LEED AP Director NYS HOME Program (Albany Regional Office)
More informationApril 1, 2013 thru June 30, 2013 Performance Report
Grantee: Prince William County, VA Grant: B-08-UN-51-0002 April 1, 2013 thru June 30, 2013 Performance Report 1 Grant Number: B-08-UN-51-0002 Grantee Name: Prince William County, VA Grant Amount: Estimated
More informationApril 1, 2013 thru June 30, 2013 Performance Report
Grantee: Pinellas County, FL Grant: B-08-UN-12-0015 April 1, 2013 thru June 30, 2013 Performance Report 1 Grant Number: B-08-UN-12-0015 Grantee Name: Pinellas County, FL Grant Amount: $8,063,759.00 Estimated
More informationGlossary of Terms Low-Income Housing Tax Credit Program
Glossary of Terms 2017 Low-Income Housing Tax Credit Program AMGI: Area Median Gross Income as defined by HUD. AMI: Area Median Income as defined by HUD. BIN: The state credit agency assigns a Building
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 information