Housing and Development Incentives News
The latest trends, news and insights on TIFs, tax credits and other housing and development incentives.
Harbor Vue Project in Massachusetts Secures Low-Income Tax Credits for 120 Affordable Housing Units
The Harbor Vue project in Hyannis is set to receive low-income housing tax credits and subsidies for the construction of 120 mixed-income apartments at the former TD Bank site on Main Street. To be developed by WinnDevelopment, seventy units will be designated for...
Federal Historic Tax Credit Bill Reintroduced in US Senate
U.S. Senators Shelley Moore Capito and Mark Warner have recently reintroduced the Rural Historic Tax Credit Improvement Act in hopes of preserving the nation’s heritage and boosting local economies through private investment incentives like tax credits. The bill...
$14 Million TIF Boosts Affordable Housing Project in Cabrini-Green Site in Chicago
The development of an affordable housing project near the former Cabrini-Green site in Chicago is moving forward after securing approval from the Committee on Finance for $14 million in tax-increment financing (TIF) funds. The $52.9 million project at 547 W. Oak St....
New Bill Proposed to Make New Markets Tax Credit Permanent
A bipartisan bill, the NMTC Extension Act (H.R. 1103), has recently been proposed to make the New Markets Tax Credit (NMTC) Program permanent. The bill has already been referred to the House Ways and Means Committee, and if enacted, it would make the NMTC permanent,...
Cinnaire Closes $190M LIHTC Fund for Affordable Housing Projects Across Multiple States
Cinnaire has successfully closed its $190 million Cinnaire Fund for Housing Partnership 42, a LIHTC fund which will support the development of 1,478 affordable homes across 21 properties. The fund, backed by national and regional banks, will invest in communities from...
Massachusetts Awards $158 Million in LIHTC to Support 14 Housing Projects
More affordable housing units will be available soon in Massachusetts as the administration has announced that it has awarded $158 million in low-income housing tax credits and subsidies to support 14 affordable housing projects across the state. These funds will help...
Cleveland City Council Seeks to Amend Riverfront TIF Term and Define Infrastructure Plan
Cleveland’s City Council is requesting an amendment to the riverfront tax increment financing (TIF) district that would specify the exact locations of infrastructure work and extend its TIF term from 30 to 42 years. The most controversial aspect of the amendment is...
Chicago TIF District Expansion to Fund Over 300 New Units at Lathrop Homes
The Chicago City Council recently approved an expansion of the Diversey/Chicago River tax increment financing district, which will help increase funding for the construction of more than 300 housing units in the southern section of the Lathrop Homes development...
TN Attorney General: Tax Incentive Resolution Raises Constitutional Concerns
Tennessee Attorney General Jonathan Skrmetti has raised legal concerns about a new Shelby County resolution requiring developers to first complete "culturally competent community engagement" before seeking tax incentives, suggesting parts of the policy could violate...
$15M LIHTC Project in Yellow Springs, Ohio Moves Forward
A low-income housing tax credit (LIHTC) project in Yellow Springs, Ohio, is moving forward, with Village Council recently approving key resolutions to support Woda Cooper Development’s $15 million LIHTC application to the Ohio Housing Finance Agency. To ensure the...
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