Low-Income bonds for Multi-family Development

[Andrew Clifton]

Hello I would like to find any information on how our corporation could partner up with my local city and surrounding areas to help build our community or maybe even how we could partner up with HUD. I quickly discovered there's alot to it! Me and my business partner were talking about this just the other day, but not to sure where we should start or if it's even really possible being a small corporation like we are. Any thoughts and advice would be greatly appreciated!

Thanks 

Andrew Clifton 

[Alex V.]

Hey @Andrew Clifton I work on the financing side of low income housing. It's probably worth paying attention to which way the wind blows with the House Tax Reform Bill. The current bill proposes removing tax exemption from Private Activity Bonds, which are how a good chunk of LIHTC and all bond financed low income housing is funded. The bill also proposes scrapping a lot of other tax credit programs for affordable housing on smaller deals. The Historical Rehab and a few others are on the chopping block, all by end of year. The likelihood is low but there is a small chance that low income housing bonds cease to exist in January.

With that being said, you should contact your local Housing Finance Agency to see what they have to offer. They act as the go between from HUD to developer. I'd wait a few days before reaching out though as a lot of them are in pure panic mode right now.

http://adfa.arkansas.gov/rental-housing-developmen...

Please feel free to reach out with more questions. Affordable housing is very near and dear to my heart so happy to answer any questions.