In a recent Forbes.com article, author Richard Burns aptly outlines the benefits for both investors and the community.
On December 16, 2019, congressional leaders released the end of the year tax package, Taxpayer Certainty and Disaster Tax Relief Act of 2019. This bill includes federal tax breaks for brewers, distillers, churches with parking lots, and some wind energy producers. However, last minute objections ended the possibility of any housing credit provisions from being incorporated – specifically the Affordable Housing Credit Improvement Act – to reduce the scope of the bill in order to deliver a “skinny package.”
MEMBERS IN THE NEWS: Steele Properties has acquired Wayman Manor in Temple, Texas. Yardi Matrix data shows Treetop Development sold the 160-unit affordable community after four years of ownership. KeyBank Community Development Lending and Investment originated a $19.6 million construction and permanent loan for the new owner.
AMTEX Multi-Housing, LLC, closed financing and started construction on Limestone Ridge Apartments in Austin, an affordable housing community for seniors.
Franklin Development among affordable housing developers to receive approval from San Antonio City Council
TAAHP member Franklin Development received approval for its planned affordable housing development at 3830 Parkdale in the Medical Center area of San Antonio.