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
| Jan 8, 2014
Architect sentenced to a year in jail for firefighter's death
Architect Gerhard Becker was sentenced to a year in LA county jail after pleading no contest to the manslaughter of a firefighter who died while trying to contain a fire in a home the architect had designed for himself.
| Jan 8, 2014
United Association, NRDC seek major plumbing code changes
Proposed changes include mandating the insulation of hot water piping in new buildings.
| Jan 2, 2014
EPA move to assert oversight on small bodies of water among top regulatory battles for 2014
The EPA has started the process of declaring that it has the power to regulate streams, brooks, and small ponds.
| Jan 2, 2014
Paseo Verde in Philadelphia is nation’s first LEED Platinum neighborhood development
Paseo Verde, a mixed-use, mixed-income community hosted a ribbon cutting ceremony last month.
| Jan 2, 2014
Green infrastructure prominent in Akron, Ohio's sewer plans
City officials in Akron, Ohio want to prevent stormwater from entering its combined sewer system through the use of green infrastructure.
| Jan 2, 2014
OSHA to hold public meeting on proposed rule to improve tracking of workplace injuries
The Occupational Safety and Health Administration (OSHA) has scheduled a public meeting to allow interested parties to comment on the proposed rule to improve tracking of workplace injuries and illnesses.
| Jan 2, 2014
Measuring whole building energy use among big changes in LEED v4
A new prerequisite in LEED v4 calls for each project to measure whole building energy use, and then share that data with USGBC.
| Jan 1, 2014
San Francisco hosts Net Positive Energy + Water Conference
The Living Building Challenge’s Net Positive Energy + Water Conference will be held Feb. 4-5 in San Francisco.
| Dec 27, 2013
California’s new Title 24 energy code compliance date pushed back to July 1, 2014
Due to the stringency of the provisions in California’s new Title 24 energy codes, their implementation has been postponed until July 1, 2014 to allow jurisdictions and engineers to prepare for them.
| Dec 27, 2013
$1 billion 'city within a city' development approved by Coachella, Calif., city council
The mega development includes 7,800 homes, a retail center, office space, and nearly 350 acres of open space.
