1 / 7

2170 Gilbert Avenue, Suite 100 • Cincinnati, Ohio 45206 Tel 513.559.0048 • Fax 513.559.0840

2170 Gilbert Avenue, Suite 100 • Cincinnati, Ohio 45206 Tel 513.559.0048 • Fax 513.559.0840. Layering Historic Credits with LIHTC 9/25/2008. Pros. Currently Historic Equity pricing higher than LIHTC Historic basis is deducted from the LIHTC basis

zanthe
Télécharger la présentation

2170 Gilbert Avenue, Suite 100 • Cincinnati, Ohio 45206 Tel 513.559.0048 • Fax 513.559.0840

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 2170 Gilbert Avenue, Suite 100 • Cincinnati, Ohio 45206 Tel 513.559.0048 • Fax 513.559.0840

  2. LayeringHistoric Credits with LIHTC9/25/2008

  3. Pros • Currently Historic Equity pricing higher than LIHTC • Historic basis is deducted from the LIHTC basis • Layering helps offset the cost of the Section 106 findings • High rehab standards for historic encourage affordable housing development that is indistinguishable from market rate

  4. Cons • Occasional conflicts between Historic preservation and the QAP. • ADA, Universal Design, Features, etc… • Risk of upfront Part 1 application costs being lost if the LIHTC application is not funded. • In some cases, the cost of historic compliance is greater than the incremental construction cost. • Windows: High energy costs vs. the aesthetics of storm windows.

  5. Selection Process • Cincinnati and Northern Kentucky have several historic districts, many of which are plagued by poverty and neglect • Selection tends to be driven by neighborhood revitalization rather than individual buildings

  6. Need • Is there demand? • Does it contribute to a larger revitalization effort? • Does the operating budget work? • Can enough money be raised to cover renovation and operational expenses? • Am I eligible for historic credits? (Fed or State) • Am I competitive enough to move forward with LIHTC Part 1 app? • Are other sources of gap financing available?

  7. Academy Flats

More Related