We have had a good season for affordable housing. While we didn’t get any blockbuster changes (like a hoped-for reduction of the 50% low-income housing tax credit (“LIHTC”) bond test to 25%), and although the new LIHTC Average Income Regulations have not yet been issued (but are due any day), we did get some new laws and guidance which will benefit affordable housing and LIHTC projects.
Below please find a bulletin from Applegate & Thorne-Thomsen addressing the positive impacts on affordable housing from (i) the Inflation Reduction Act Energy Credit Provisions, (ii) recent helpful Treasury Guidance on State and Local Fiscal Recovery Funds, and (iii) some recent developments with the City of Chicago Chicago Recovery Plan.
CLICK HERE to download the entire bulletin.
For more information, please contact Glenn Graff or any of your contacts at Applegate & Thorne-Thomsen.