On August 6th, Massachusetts Governor Maura Healey signed into the law House Bill No. 4977, known as The Affordable Homes Act (the “Act”), considered to be the most ambitious housing investment legislation in the
New Markets Tax Credit, Historic Tax Credits, and Affordable Housing
The blog published by Duane Morris LLP focuses on legal developments and practical guidance related to New Markets Tax Credits, Historic Tax Credits, and affordable housing initiatives. It covers legislative updates, regulatory changes, and financing mechanisms that impact community development and real estate projects, particularly those aimed at revitalizing low-income and underserved areas. The blog also discusses state and federal policies affecting housing investment, tax credit allocations, and compliance issues relevant to developers, investors, and legal practitioners in the affordable housing and community development sectors.
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Latest from New Markets Tax Credit, Historic Tax Credits, and Affordable Housing
Virginia Passes Bill to Evaluate Single-Stair/Point Access Block for Multifamily Dwellings
On April 4, 2024, Virginia Governor Glenn Youngkin signed into law Senate Bill 195, which directs the Commonwealth’s Board of Housing and Community Development (the “Board”) to convene a stakeholder advisory group (the “Advisory Group”) to evaluate and recommend revisions…
Maryland General Assembly Establishes a “Maryland Only” CDE
By Duane Morris
By N. Gordon Knox, Partner On April 8th, the Maryland General Assembly enacted The Housing and Community Development Financing Act (the “Act”), creating a state Community Development Entity (“CDE”) to utilize federal New Markets Tax Credits (“NMTCs”). The Act was…
Opportunity Knocks – Treasury releases 2nd set of Opportunity Zone Regulations – Duane Morris LLP
On April 17th the Department of Treasury released a second set of proposed regulations for the Opportunity Zone legislation (the first set of regulations was released in October, 2018) which is intended to encourage economic growth and investment in designated…
CDFI Fund Announces Historic NMTC Awards
On November 17th the CDFI Fund awarded a record $7 billion in New Markets Tax Credit allocation to 120 community development entities throughout the Country. Based on the conditions of the awards it is anticipated that approximately $5 billion of allocation…
Duane Morris and 5 Stone Green Capital Presentation on Combining Private Equity with Tax Credits
Art Momjian, Chair of the Duane Morris Affordable Housing, Community Development, and Syndication Practice Group and Victor Brown Managing Partner at 5 Stone Green Capital, a social impact private equity firm will lead a discussion on the opportunities to combine private equity…
CDFI Fund Releases Draft Allocation Agreement
The CDFI Fund has released a draft of the proposed allocation agreement for the 2015-2016 New Markets Tax Credit allocation round. A new section added to the allocation agreement provides a limitation on QLICI proceeds which are used to repay…
Art Momjian to Speak at NMTC Forum
Duane Morris Partner Art Momjian will be a speaker at the New Markets Tax Credit Forum sponsored by the Community First Fund on Tuesday September 13, 2016 from 7:30 am to 11:30 am at The Double Tree Hotel in Reading,…
CDFI Fund to Award $7 Billion of NMTC Allocation
The CDFI Fund will award $7 billion of New Markets Tax Credit allocation in the next round to be announced by the end of 2016. As a result of the 5 year extension of the New Markets Tax Credit the CDFI…
New Markets Tax Credits Extended
In December the President signed into law the Tax Increase Prevention Act of 2014. One of the provisions of the Act is to extend the Federal New Markets Tax Credit program one additional year at the current authorization of $3.5…