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Credit Worthy News

Affordable Housing and Historic Preservation

Posted by Katherine Ferguson on Monday, April 23, 2018

Loring HouseLoring House | Portland, ME

Housing affordability is a problem across the country. In fact, one National Low-Income Housing Coalition study found that in 2017 there was no state that is untouched by this issue. 

Low-income housing tax credits have been a legislative both the federal and state level for several decades. In some states, legislators have added incentives for historic preservation that supports the creation of preservation of affordable units. In the April 2018 issue of the Novogradac Journal of Tax Credits, we examine how some of these state programs are structured. 

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Linking Affordable Housing to Historic Preservation Using Tax Credits

 

Topics: State HTC, Novogradac Journal of Tax Credits, Affordable Housing

State Historic Tax Credits with Equal Installment Structures

Posted by Katherine Ferguson on Friday, February 23, 2018

DSC_0024.jpgCigar Factory | Charleston, SC

Making headlines around the country, the big change to the federal historic tax credit has people talking and speculating. The tax credit itself was saved, which was welcomed with a collective sigh of relief from preservationists, developers, architects, and community leaders across the nation; however, the effect of one major change requiring owners to take the credit over five years instead of the first year has been the speculation of national and local news media and industry leaders over the last two months. 

We don't have all the answers on what the outcome of the change will be yet, but in the February 2018 issue of the Novogradac Journal of Tax Credits, we examine how state historic tax credit programs that have equal installment strcutures have fared and what we can learn from them. 

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What State HTCs with Equal Installment Structures Tell Us About the New Federal HTC Rules

 

Topics: State HTC, Novogradac Journal of Tax Credits

What you need to know about the new Alabama HTC

Posted by Katherine Ferguson on Thursday, August 17, 2017

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Bell Building | Montgomery, AL

Perhaps one of the most anticipated state historic tax credit programs of the year, the Alabama Historic Rehabilitation Tax Credit was passed in May 2017. The revised legislation comes after a former program was allowed to sunset, putting some projects around the state on ice for nearly two years.

In the August 2017 issue of the Novogradac Journal of Tax Credits, MHA Southeast director Richard Sidebottom explains the factors at play and outlines the major changes that differentiate it from the previous Alabama HTC program. 

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Alabama Historic Tax Credit is Rehabbed

 

Topics: State HTC, Novogradac Journal of Tax Credits

Mid-Year Review of State Historic Tax Credits

Posted by Katherine Ferguson on Thursday, June 22, 2017

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The Pizitz Building | Birmingham, AL

It's been a wild year for tax reform. It seems the concept has never been more popular. While we await what will unfold on the national stage, states have been wrapping up their 2017 sessions and debating the merits of their own tax credit programs. 

In the June 2017 issue of the Novogradac Journal of Tax Credits, partner Bill MacRostie gives an update on some of the economic studies, the comebacks, and the changes that are shaping the state historic tax credit landscape. 

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Plenty of Activity Surrounding State HTC Programs

 

Topics: State HTC, Novogradac Journal of Tax Credits

Connecticut Needs A Higher Historic Tax Credit Cap

Posted by Katherine Ferguson on Wednesday, April 26, 2017

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The Carroll Building | Waterbury, CT

Just as the case in Kentucky, Connecticut has an aggregate cap on their state historic tax credit. And the demand for these tax credit dollars far outweighs the supply. The last three years has seen funds fully reserved quickly with the last year being fulfilled in the first four months of the fiscal year. 

In the April 2017 issue of the Novogradac Journal of Tax Credits, MHA Northeast director Albert Rex takes a look at the history of the Connecticut Historic Rehabilitaiton Tax Credit program and gets insight from some of the key players in the state. 

Read the full story here | 
Connecticut Looks at Boost to Annual Cap

 

Topics: State HTC, Novogradac Journal of Tax Credits, Connecticut, Aggregate Cap