Category: Tax credits

You don’t expect me to LOSE money, do you? Part 3, you want WHAT?

13 February, 2008 (10:19) | Economics, LIHTC, Program administration, Tax credits, Theory, US News | No comments

[Continued from the previous Part 1 and Part 2.]
 
So far our exploration of Cornerstone Apartments in Haltom City, Texas, has covered rapes, shootings, backed-up sewers, dead rats, no heat over a weekend, enormous water bugs, and an astonishing flyer from the management agent demanding that residents repair defects that are the owner’s responsibility and tacitly […]

You don’t expect me to LOSE money, do you? Part 1: what problems?

11 February, 2008 (10:31) | Economics, LIHTC, Program administration, Tax credits, Theory, US News | No comments

 
 
Kent Hance, Chancellor of Texas Tech University, is an unlikely owner of LIHTC properties, but back in 1994, he made a financially brave decision, to take over as controlling general partner of Cornerstone Apartments in Haltom City, Texas, a small town northeast of Fort Worth.  As described in an article from the Fort Worth Star […]

Do your worst, Part 2: buyer of the undead

18 December, 2007 (10:00) | Ecosystems, Tax credits, Theory | No comments

[Continued from yesterday’s Part 1.]
So far we’ve seen, via a lengthy exposition in the Fort Worth Star-Telegram, that some property’s are legally obligated to remain as LIHTC affordable, yet are in a zombie interval where there is no penalty for failing to comply.  That makes them prime candidates to be sold from the more experienced […]

Do your worst, Part 1: the zombie property

17 December, 2007 (10:10) | Ecosystems, Tax credits, Theory | No comments

Those of us with long experience in affordable housing work from the presumption that not only does every property have a regulator, every regulator has some form of potential enforcement powers.

“Enforcement Powers?  Oh, bee-have, baby!”
 
Yet, as explored in depth in a Fort Worth Star-Telegram investigative article, there’s a class of affordable owners for whom established […]

Tax reform: threats and execution?

4 November, 2005 (12:27) | Local taxes, Policy, Tax credits, Taxes |

As Yogi Berra said, “it’s deja vu all over again.” 
 
 
“I never said half the things I said.”
 
Not only has the President’s Advisory Panel on Tax Reform thought about the unthinkable — repealing the mortgage interest deduction — it has actually advanced two distinct proposals for comprehensively overhauling the tax code.  While some may see […]