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
K-12 Schools | Jul 8, 2019
Collaborative for High Performance Schools releases 2019 Core Criteria Version 3.0 Update
The update adds credits to lower carbon footprints and to promote climate change resiliency.
Wood | Jul 8, 2019
Campaign launched to promote ‘climate-smart wood’
The Forest Stewardship Council and other groups aim to help buyers understand and make it easier to locate lumber that meets sustainable forestry standards.
Urban Planning | Jul 8, 2019
U.S. cities experience ‘Doppler shift’ in walkable urban development
The walkability trend is spreading to urbanizing suburbs.
Codes and Standards | Jun 27, 2019
Construction workers need continuous skills upgrades
A report by Autodesk and Deloitte focuses on how workers can succeed in an automated world.
Codes and Standards | Jun 27, 2019
Updated standard for liquid applied flashing for exterior wall openings released
AAMA document establishes minimum performance requirements.
Codes and Standards | Jun 27, 2019
Public restrooms being used for changing clothes, phone conversations, and 'getting away'
About 60% of Americans use a public restroom one to five times a week, according to the latest annual hand washing survey conducted by Bradley Corporation.
Codes and Standards | Jun 21, 2019
Green Globes 2019 accepted as a revised American National Standard
Advances include language on resilience, life cycle cost analysis, moisture control analysis, health, and effectiveness.
Codes and Standards | Jun 14, 2019
Reports from Intl. Code Council focus on expanding use of shipping containers as building materials
Three companies show compliance for using containers for housing.
Codes and Standards | Jun 13, 2019
Report explores potential for rope-less and multidirectional elevators in tall buildings
Technology can enable cities to be more interconnected, efficient, and accessible.
Codes and Standards | Jun 12, 2019
USGBC-LA launches Net Zero Accelerator
Goal is to enable building tech market adoption for a net positive future.
