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 | Jan 21, 2020
Contractors pay practices reviewed in new database
Fastest and slowest paying GCs revealed.
Codes and Standards | Jan 17, 2020
Several states with ambitious climate goals will have to restrict natural gas as a fuel
Buildings would have to heat and cook with electricity.
Codes and Standards | Jan 16, 2020
New solar-ready mandate affects commercial and residential buildings in St. Louis
All new buildings must have reserved rooftop sections for PVs.
Codes and Standards | Jan 15, 2020
Trump Administration blocks new light bulb efficiency standards
Move defies bipartisan 2007 law.
Codes and Standards | Jan 14, 2020
L.A.’s expedited permitting process credited with faster approvals on $1 billion project
Parallel Design-Permitting Process includes flagging elements for correction during conceptual design.
Codes and Standards | Jan 13, 2020
Kansas City is first in nation to offer free public transportation
Aim is to increase mobility to spur more economic activity.
Codes and Standards | Jan 9, 2020
Dept. of Defense will require beefed up cybersecurity standards in January
All contractors will have to demonstrate secure practices.
Codes and Standards | Jan 8, 2020
2019 Oregon Zero Energy Ready commercial code will boost efficiency by 14%
ASHRAE 90.1 is the basis for new code that went into effect Oct. 1.
Codes and Standards | Jan 8, 2020
Energy efficiency initiatives have significantly cut energy consumption per square foot
Lighting and space heating fell by more than 600 trillion Btu from 2003 to 2012.
Building Technology | Jan 7, 2020
Tariff whiplash for bifacial solar modules
Bifacial solar systems offer many advantages over traditional systems.
