The development and management of affordable housing—whether single-family homes, multifamily apartments or co-ops—can put home ownership within reach of low-income households. Developers of affordable housing units can leverage a number of state and federal tax credit opportunities. Builders can qualify for government assistance or subsidies in the construction of new, or rehabilitation of existing, structures.
Because credits can differ by state, it can be difficult to sort through the tax and grant programs available. The process can be competitive, and identifying the companies that qualify for these programs can be burdensome for the builders and developers that often do not have the resources or understanding of the latest incentives being allocated or how to qualify for them.
We have the experience and understanding of the options to help companies take full advantage of the credit programs available, including low income housing tax credit (LIHTC); historic rehabilitation tax credits; state tax credit loan and grant programs; and the federal new markets tax credit. Often there are multiple layers of incentives that can include subsidies such as the solar energy credit and residential energy efficiency credit.
This sector covers many different parties and reaches across the country. Whether it is a government subsidy going directly to the builder, rental assistance payments going to the landlord, tax credits awarded to developers who agree to construct low-income housing, or support for a state agency managing its affordable housing stock, we can help.