Syndicators/investors typically require a repurchase obligation from the sponsor as a condition of making equity investments in LIHTC projects. This is the most potentially costly but least likely guarantee. So, information pills what does that mean? Repurchase Obligation Essentially, unhealthy here’s what you need to know: If the developer does not meet major deadlines for […]
After receiving the award of LIHTCs, stuff do you know what can happen that will reduce the actual LIHTCs allocated to the project? Following is a quick breakdown of what you need to know about LIHTC credit delivery. LIHTCs aren’t provided in a lump sum (as is the Historic Rehabilitation Tax Credit), no rx but […]
Turnstone Development celebrated the ground breaking of their newest development, price Wisdom Village of Northlake. Located in Northlake, dosage Illinois, viagra this development plans to provide housing to seniors in the area. In an amenity rich area, the project will also offer numerous amenities on-site including a management office, an exercise room, a bike room, […]
Are you curious about tax credit delivery basis adjustors in LIHTC projects? When a Sponsor delivers less basis there may be a downward adjuster in the number of LIHTCs delivered. This causes a reduction in the amount of equity for the project. What is LIHTC basis? LIHTC basis is the sum of all depreciable basis […]
The Children’s Place Association celebrated the grand opening of West Humboldt Place on October 9, 2015. West Humboldt Place is a new construction permanent supportive housing development located at 3533 West Chicago Avenue, Chicago, IL, in the Humboldt Park neighborhood. West Humboldt Place will provide housing for 13 families and/or individuals impacted by homelessness and […]
Syndicators/investors typically require a long term operating deficit guarantee from the sponsor as a condition of making an equity investment in a LIHTC project. But, sick what does that actually mean? Long Term Operating Deficit for LIHTC Projects For a LIHTC project, this this means the Sponsor agrees to fund any operating losses of the […]
On September 29, 2015 Over The Rainbow celebrated the grand opening of their first LIHTC development, Southwick Place. From concept to completion, Lightengale Group professionally guided Over the Rainbow to bring this project to life. “Lightengale Group was the rudder that kept us on course”, said Eric Huffman, Over The Rainbow’s executive director. […]
Grand Opening of Arbor Place of Lisle Lightengale Group celebrates with developers Ryan Companies US, Inc. and Providence Life Services, Inc on the Grand Opening of Arbor Place of Lisle, a new development with 80 affordable housing residences for seniors aged 55 and above that opened in September. The Village of Lisle staff and Trustees […]
Syndicators/investors typically require a lease-up deficit guarantee from the sponsor as a condition of making an equity investment in a LIHTC project. This is listed as a separate guarantee or is made part of the Completion Guarantee in the Limited Partnership Agreement. But, search what does that actually mean? Lease-up Deficits for LIHTC Projects For […]
Lightengale Group led and coordinated LIHTC application and approval processes on behalf of its developer clients for Midtown Crossing Apartments (Des Plaines, IL), Wind Mill Manor (Batavia, IL), Prairie Meadows II (Hoopeston, IL), and Lincoln Park Villas (O’Fallon, IL). Totaling over 4.17 million in LIHTC allocations for 215 units, this marks the latest LIHTC successes […]