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 | Feb 16, 2016
New York City implements new crane safety plan following deadly accident
The plan includes restrictions on crawler cranes during windy conditions.
Resiliency | Feb 16, 2016
Obama establishes federal earthquake risk management standard
The standard requires federal agencies to use earthquake-resistant design provisions in current building codes.
Codes and Standards | Feb 12, 2016
ISO releases national assessment and state-by-state building codes evaluation
Report covers 87% of U.S. population.
Codes and Standards | Feb 12, 2016
Huge fraud case involving alleged engineering impostors uncovered in California
Hundreds of buildings may have to be demolished.
Codes and Standards | Feb 11, 2016
New York governor makes emergency design-build authorization
The declaration was issued in response to Winter Storm Jonas which dumped over 18 inches of snow in parts of the state.
Green | Jan 29, 2016
USGBC names top 10 states for LEED green building
Illinois leads the list for the third straight year.
Codes and Standards | Jan 25, 2016
Dept. of Energy releases decision guides for plug and process loads
Plug and process loads consume about 30% of the primary energy in U.S. commercial buildings today.
Codes and Standards | Jan 22, 2016
ConsensusDocs releases new multi-party IPD agreement and joining agreement
The documents serve as a comprehensive revision of previous IPD agreement
Codes and Standards | Jan 22, 2016
State Savings Calculator analyzes savings associated with energy codes
The calculator breaks down the cost-effectiveness of energy codes on a state-by-state basis.
Codes and Standards | Jan 22, 2016
Metal Roofing Seaming Guide published by Metal Construction Association
The free document is specifically tailored for metal roof installation.
