Tierra Linda Closing

Latin United Community Housing Association (LUCHA) closed on the financing for their new project, Tierra Linda, with the help of Lightengale Group. Tierra Linda is a forty-five (45) unit new construction project that will create rental apartment for low-income families in the Humboldt Park and Logan Square Communities. The goal of the project is to […]

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Illinois Funders Speak about Strategically Locating Affordable Housing Projects

Illinois Funders Speak about Strategically Locating Affordable Housing Projects

Larry Pusateri, prostate Vice President and Partner at Lightengale Group, moderated a discussion of Illinois affordable housing lenders about their current policies on locating affordable housing and selection criteria at Lightengale Group’s Fair Housing Seminar. Chicago Housing Authority (Lee Pratter, Sr. Director of Development), City of Chicago (Lawrence Grisham, Managing Deputy Commissioner), Cook County (Jane […]

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Part 2: Reasonable Accommodation in Property Management

Part 2: Reasonable Accommodation in Property Management

Melanie Kibble, approved Vice President of Compliance at Mercy Housing Management Group, drugs spoke about the Fair Housing requirements related to providing reasonable accommodation for persons with a disability at Lightengale Group’s Fair Housing Seminar in January. In part one, more about we looked at what reasonable accommodations are, who pays for their associated costs, […]

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Part 1: Reasonable Accommodation in Property Management

Part 1: Reasonable Accommodation in Property Management

Melanie Kibble, Vice President of Compliance at Mercy Housing Management Group, spoke about the Fair Housing requirements related to providing reasonable accommodation for persons with a disability at Lightengale Group’s Fair Housing Seminar in January. In part one, we’ll look at what reasonable accommodations are, and who pays for their associated costs. What Counts as […]

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Evolving Federal Policy on Fair Housing

Kim Nevels, HUD’s Director of the Chicago FHEO Center, provided an overview of the federal government’s evolving role in Affirmatively Furthering Fair Housing (AFFH) at Lightengale Group’s Fair Housing Conference in January. Disparate Impact Ruling In 2015, the Supreme Court ruled in the Texas Department of Housing and Community Affairs (a State LIHTC allocating agency) […]

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LIHTC Delivery Guarantee: First Year of Credits & Ongoing Years

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 […]

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Tax Credit Delivery Basis Adjustors in LIHTC Projects

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 […]

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