Proposed changes to the corporate tax rates have stymied funding for affordable housing, according to a California housing executive.
The Trump Administration has vowed to lower taxes for businesses, and this stance has caused a halt since December 2016 in the issuance of letters of intent from major investors in affordable housing. About 90% of affordable rental housing projects stem from the federal Low-Income Housing Tax Credit (LIHTC).
This program encourages the investment of private equity in the development of affordable rental housing for low-income households through tax incentives. With the uncertain impacts of tax reform, big banks are currently reluctant to commit to specific deals.
Some are calling on Congress to protect the LIHTC and increase the allocation of credits to prevent an affordable housing crisis from getting worse.
Related Stories
Codes and Standards | May 22, 2015
First EPD covering PVC water and wastewater piping published
Benchmarks impacts of seven PVC pipe products across their life cycles.
Office Buildings | May 18, 2015
New ASHRAE standard offers test method to determine heat gain of office equipment
The standard will aid engineers in configuring cooling systems in office buildings.
Codes and Standards | May 7, 2015
Widespread damage from Nepal earthquake due to poor implementation of building code
Nepal’s code author says destruction was ‘inevitable.’
Codes and Standards | May 7, 2015
Lavish residential skyscrapers prompt concern over shadows
New York, San Francisco, Washington, D.C., and Boston among cities grappling with height regulations.
Codes and Standards | May 7, 2015
Several states moving to repeal prevailing wage laws
Anti-prevailing wage bills that apply to state-funded construction projects have been passed in West Virginia and Nevada. Similar laws could be passed in Indiana and Illinois.
Codes and Standards | May 7, 2015
New OSHA rule aimed at protecting construction workers in confined spaces
The agency says the rule will protect about 800 workers a year from serious injury.
Codes and Standards | May 1, 2015
Colorado House kills construction defects bill
The legislation would have made it harder for condo owners to sue builders.
Codes and Standards | May 1, 2015
New energy efficiency program, Tenant Star, gets OK from Congress
The voluntary program for commercial and government buildings is modeled after Energy Star.
Smart Buildings | May 1, 2015
FEMA to require states to evaluate risks posed by climate change
The aim is for states to do a better job planning for natural disasters they are likely to face in a warming world.
Codes and Standards | May 1, 2015
Department of Energy asks for feedback on cost-effectiveness of building energy codes
DOE’s RFI wants input on how to improve methodology on cost assessment.