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) […]
Diamond Senior Apartments of Oswego, sildenafil Phase II Grand Opening On Monday, November 16, 2015, 3 Diamond Development celebrated the Grand Opening of Diamond Senior Apartments of Oswego Phase II. There was a great turnout from all parties involved in the project. Bank of America (investor and construction lender), Featherfist (Non-profit partner), as well as […]
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Full Circle Communities Breaks Ground on The Arbor at Lindale Trail, an Affordable Senior Housing Project in Marion, Iowa that Marks the Developer’s First Foray in the Hawkeye State The Arbor at Lindale Trail is for mixed income seniors and the new three-story building will include 70 units of housing, community areas, and additional on-site […]
Eight Local Projects from Lightengale Group Clients Secure $5.4M of Just-Announced Federal Home Loan Bank of Chicago Affordable Housing Program Grants Projects receiving Affordable Housing Program (AHP) awards include Wisdom Village of Oak Street, Natalie Salmon House, Prairie Meadows Phase II, LaGrange PSH, Diamond Senior Apartments of Princeton, Hall Street Lofts, Fox Run Villas, and […]
Developers A Safe Haven Foundation and West Suburban Housing Development Corporation team up to deliver new project that fills a critical affordable housing need in a community that is undergoing dramatic improvements. Lightengale Group provided assistance to the developers from the early stages of the project through closing. This most recent Veterans Day was a […]
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 […]