What a difference opportunity zone made in my county! Investors cleared out kmart and invested 5 million dollars in a Lidl. ❤
@candyland8100Ай бұрын
What if you have less money what do you do and they have you had a 60%
@kylehenry8285Ай бұрын
I look forward to this every Tuesday morning 🙏🏾
@BrittneyAmberg-c6uАй бұрын
Rowe Mountains
@donxixi1821Ай бұрын
The CDFI should create a carve out to support emeging CDE to get an allocation
@manjushetty20293 ай бұрын
great series! can you make a video for investors to vet developers for projects?
@manjushetty20293 ай бұрын
great video! thanks for doing this
@NovogradacCPAs3 ай бұрын
Thank you for watching!
@jenngalindo69275 ай бұрын
No matter what they need to make this easier to do and hurry up because u cant file taxes till u take care of registration of credits so this is keeping people from filing on time
@davidirizarry62165 ай бұрын
Ty
@davidirizarry62165 ай бұрын
Ty
@kimferguson78156 ай бұрын
🤤 'PromoSM'
@adeliawilliams48846 ай бұрын
During high inflation, incomes do not rise at the same percentage. Inflation actually deflates income, yet HUD automatically inflates AMIs to match inflation. These formulas are manipulated to benefit investors and developers' profits; they are not serving the low-income tenants this program is meant to serve.
@adeliawilliams48846 ай бұрын
It is now April 22, 2024 and the 2024 Income and Rent Maximums haven't been published.
@adeliawilliams48846 ай бұрын
10% increases annually COMPOUND to DOUBLING rent within seven years. Seniors on Social Security cannot keep up with that. LIHTC is supposed to be affordable for low-income persons, but they can be priced out of their homes just as quickly as market-rate renters. This rent increase allowance is still too high. What's worse, with LIHTC is that rents are attached to units, not incomes (after initial qualification). Should income deflate due to inflation, tenant has to go to the back of the more affordable unit wait list that could be years long, subject to unaffordable rent increases on their current unit in the interim. PLEASE WORK TO FIX THIS.
@drewcunningham27836 ай бұрын
This video is just an advertisement for the Novogradac training series. It doesn't actually present any information other the general topics of what they cover in their trainings. If you're already planning on subscribing to the training, you can save yourself 50 minutes and not watch this podcast. It's just them talking about the topics of the training and irrelevant things like how many people they've interviewed, etc. It's entirely an advertisement for their webinars, live workshops, on-demand trainings, property compliance and community development certificates, and video shorts. They don't talk about anything other then those words over and over again.
@AaronCunningham8 ай бұрын
If my partnership (LLC) has excess commercial clean vehicle tax credits, should I be able to 1. Report them on form 3800 general business credits (and carry forward for up to 20 years). 2. Potentially sell (transfer) these credits to other entities that can use them in exchange for cash? We are not tax-exempt and so can’t do elective pay, but I’m wondering if they’re even able to be carried forward or if I would need to use the full credit in the year it was earned. As a pass-through entity I’m not sure if those credits can be banked for future use (let alone transferred to others). Car rental business that’s set up as a multi-member LLC and buys new electric vehicles (Section 45W credit).
@AaronCunningham8 ай бұрын
I see that transferability does not apply to 45W credits, but question 1 still remains.
@dt202318 ай бұрын
Terrible
@patrickdamour70168 ай бұрын
Does the developer keep the rents that is being paid by the tenants? If so, would the tenant be able to pay with section 8 vouchers?
@NovogradacCPAs8 ай бұрын
The developer/owner DOES get to keep the rents being paid by the tenants. Section 8 vouchers ARE allowed with the low-income housing tax credit incentive.
@sauce8168 ай бұрын
@@NovogradacCPAs-- This helps Slum Lords. This is why I'm reporting my apartment management for claiming and keeping my Section 8 voucher, and been paying full rent. Scammers.
@NovogradacCPAs8 ай бұрын
@@sauce816 Among the requirements for LIHTC property owners to keep the tax credits they're claiming over a 15-year compliance period is maintaining the property's physical condition. New LIHTC properties are supposed to be indistinguishable in quality from market-rate properties in their area. The rent a Section 8 voucher holder pays is based on their adjusted household income. The voucher/subsidy pays the difference between that and a higher payment standard for a unit that size in the area.
@MashondiaSWells11 ай бұрын
Thank you for this information. I'm a novice Developer and looking forward to becoming knowledgeable of Tax Credits.
@niwawang439411 ай бұрын
Our company is drawing architect plan for 27 unit condos in CA. Like to learn more about tax credit.
@redonerealty3886 Жыл бұрын
Are you available to answer this
@redonerealty3886 Жыл бұрын
For the Self Certification form 8996 does this need to happen if you have not yet received any investment capital at all? Say the fund was created Nov 2022 and currently October 2023 the fund has not started a capital raise would they still need to self certify
@NovogradacCPAs9 ай бұрын
Thank you for your question. The short answer is that the fund doesn’t need to file Form 8996 to self-certify as a QOF until the tax year in which it receives its first gain-deferred investment. So if it hasn’t raised any capital thru the end of 2023, it would not need to file a Form 8996 for tax year 2023. However, if it received any gain-deferred investments in Q4 2023, then it would need to file Form 8996. Please contact Jason Watkins with any further questions. You can reach him at [email protected].
@rudystefanitsis9 ай бұрын
Thank you@@NovogradacCPAs
@Steven-u4n2x Жыл бұрын
Please do a certificated vs. an allocated tax credit video!
@creative-and-happy Жыл бұрын
Are LLCs limited to the same at-risk rules as partnerships and S Corps?
@skyeparker5822 Жыл бұрын
Do these investors typically end up receiving equity in the housing project as well?
@NovogradacCPAs Жыл бұрын
Their ownership interest in the the partnership provides them ownership in the project. However, when investors look to exit the partnership around Year 12 (after they've claimed their credits), they leave the buildings and other assets with the developer.
@ronb8879 Жыл бұрын
I definitely appreciate the insight on how to provide housing and having access to this great tool!
@ronb88799 ай бұрын
I'm looking forward to working with you all down the road on a NMTC deal.
@Mr.Nyashty Жыл бұрын
Any news about abolishing Euclidean zoning ? Federally will have to be done eventually to curb pollution and collimate change .
@rayreyes8497 Жыл бұрын
I am new in the public housing industry. This is an excellent video on this topic.
@adeliawilliams4884 Жыл бұрын
When HUD issues an "inflation-adjusted" AMI and maximum rent report annually, tenants get the maximum rent INCREASE, though their incomes now qualify them for a lesser rent. It's not about income to rent; it's about whether you were initially approved for a certain percentage unit and then you must pay the maximum rent allowed on that % unit forever, regardless of your income qualifications! For me, my income did not increase, but I got a 10% rent increase! 10% annually will DOUBLE rent in seven years!
@sharondennis19142 жыл бұрын
Why are ALL your videos cutting off in midstream of something important. STOP PLAYING GAMES! YOU DON'T HELP BY TEASING PEOPLE WITH "STARTING" AN EXPLAINATION THAT "CUTS OFF" . WHO WANTS A BUNCH OF INCOMPLETE VIDEOS?
@NovogradacCPAs Жыл бұрын
Hi Sharon. Thanks for reaching out. This video (among others) was an excerpt from a multi-hour webinar. The video was embedded in and/or linked to some promotional emails for the full webinar recording (for purchase) as well as linked on the registration page as an example of the presentation style. Since we weren't going to show the entire webinar in KZbin (our business model is to charge for webinars), we wanted to show a single concept as a demonstration of the instruction style of the for-purchase webinars. The instructor completes one point and is transitioning to another concept when the video fades out and shows the "www.novoco.com/webinars." Our intent is to incentivize people to check out where they can order a copy of the full webinar (or ones like it). However, it appears to have induced a different reaction. Apologies. Nearly all of our instructor intro and excerpt/teaser videos nowadays are hosted only on the webinar registration web page.
@liabas73532 жыл бұрын
I'm on section 8 and CTAC 42 INCOME TAX CREDIT (LIHTC) ADDENDUM I have pegion on the stair way dropping on stairs, I informed landlord alot of times never get clean birds still flying back and forth. Who can I call for help .
@rubenmartinez64582 жыл бұрын
She.say I'm her huben so how many hubens do she have
@rubenmartinez64582 жыл бұрын
What kind of women say shit about someone being something there not that's way i.wont talk to her about her saying I am a child military and I am not getting tried of all her bullahit lie
@jackyao73942 жыл бұрын
My project in Jersey City has a total 30 Inestor visa. We currently have 4 investors, still has 26 quota. Can you help me find people to invest in my projects? Thanks Jack
@aocain32 жыл бұрын
Everywhere I look it's a tenant goes over N dmakes more how about if I lose income and go from 50 to 30% .. Am I because I have to be on a list if a 30% same size comes available.. what if I'm in the middle of living under a lease in a 50% designated unit at the same complex (100% tax credit ) I just get skipped over ..because I'm not at my renewal.. thats abhorrent esp when your on a list for years. Some new person because they arent living here currently gets my apartment at 30% that should go to me. That's what I'm told and I have not been able to find anything even discussing it. Why even have a list.
@ramonaliem39012 жыл бұрын
how do you calculate how many square feet that needs to be rented to eligible families to hit the owners applicable fraction?
@NovogradacCPAs2 жыл бұрын
Hi Ramona. The floor space fraction is calculated by dividing the floor space of all LIHTC qualified units in a building by the floor space of all residential rental units in a building. The target applicable fraction is determined by owners during planning and must be large enough to satisfy the qualified basis on the building's Form 8609 necessary to generate maximum credits. If that applicable fraction, for example, needs to be 80% to generate maximum credits, the lesser of the unit fraction or the floor space fraction must be at least 80%.
@MarieAntoinette1938_tmc2 жыл бұрын
is this for a housing compliance specialist? what certifications can i get to get in to the housing compliance field ?
@NovogradacCPAs2 жыл бұрын
Hi Jollet. Novogradac hosts an 11-hour online LIHTC property compliance workshop with an accompanying exam that enables those who pass it to earn their Novogradac Property Compliance Certification (NPCC). You can learn more about the NPCC at training.novoco.com/pages/npcc
@chucktownnative2 жыл бұрын
Even with this video being over a decade old, it is still one of the best videos on how LIHTC works.
@pamelasmith67582 жыл бұрын
What is the motivation for a lender to do this and not benefit from the Tax Credit program? Does a QLICI loan have a higher interest rate? Or some kind of guarantee?
@NovogradacCPAs2 жыл бұрын
Hi Pamela. From one of our NMTC professionals: The QLICI loans actually have a below market interest rate as a result of the investor equity being part of the source of those funds. The leverage lender that provides the other part of the source funds (per the diagram) is often the project sponsor or is an entity connected to the project sponsor who has an interest in getting the project completed and isn’t necessarily interested in the monetary benefit derived from the leverage loan. The leverage loan can be comprised of various sources of funds (e.g. capital campaign funds, grants, 3rd party loans, etc.) that are the responsibility of the sponsoring organization of the project. If a 3rd party loan is included in leverage loan sources it is generally a market-rate loan that the sponsoring organization will cover rather than the NMTC project borrower.
@Pam02842 жыл бұрын
@@NovogradacCPAs oh wow, thanks! I work for Citi and literally needed to understand this for my job.
@jessebusma53392 жыл бұрын
Who gets to collect the rent?
@Ganbarizer2 жыл бұрын
So if I generally qualify for everything else, but started the year as a full time student from Jan-May at the time I applied for a unit to live in starting in July , and then enrolled as a part time student for the upcoming semester in August, would I qualify due to the change in student enrollment status? I can't find any info on that. It's all just "if you were full time for 5 calendar months and don't meet the excemptions, you're DQ'd!"
@NovogradacCPAs2 жыл бұрын
Having been a full-time student for any part of 5 calendar months during the year (Jan-May) already taints that year as fare as the full-time student rule goes, even if you graduated and never enrolled again. This is if the household is comprised entirely of full-time students.
@omsu84102 жыл бұрын
excellent video, do you have an updated one?
@haileymunoz18312 жыл бұрын
what about only going to school jan 18 - may 15 would that qualify?
@NovogradacCPAs2 жыл бұрын
That is still portions of five months during the calendar year
@misterscaz60112 жыл бұрын
Thanks for a very concise, understandable explanation of this.
@carlosferdinand90473 жыл бұрын
Once I knew all of that, I’d start buying houses - old houses in appreciating markets to fix up and sell, nicer houses in stable markets to rent out to great tenants. I would also tell myself to avoid condos, townhouses, and homes in strict HOA neighborhoods or neighborhoods that have high association fees. I want to be in control of my expenses. Excellent vlog
@NunYa9532 ай бұрын
And I'll swoop in and buy the loans from the bank when you lose your ass. 😂
@jacobhernandez43473 жыл бұрын
woow mind is blown .. thank you
@lcblas20103 жыл бұрын
Are landlords able to ask you to move out of your apartment if your family over income?
@NovogradacCPAs3 жыл бұрын
The LIHTC incentive does not require/allow landlords to evict households who are initially income qualified if their income subsequently increases. However, if the household failed to report income during their initial income certification prior to move-in, the landlord will have grounds to evict them.
@lcblas20103 жыл бұрын
God bless your heart . Thanks for giving me some peace of mind I recently got a notice on my door from my landlord indicating that my property that I have been living for over 20 years is going to become LIHTC (an other housing program) . And since I pay market rent right now that I will be asked to move because I’m no longer qualified under the new program that they’re in I’m thinking that the people that are sending out these notices are not fully educated as you are
@lcblas20103 жыл бұрын
@Novgradac my property is currently consider subsidized which I pay market right now
@aliciabarker6726 Жыл бұрын
Hi, this topic is still relevant up today. Thanks for explaining the LITHC program thoroughly. My income is over the 140 percent limit, and the lease manager keeps calling to offer me market rate apartments. They usually add my state income, which is always higher than my federal gross income, along with my 457 plan interest that goes into the retirement system. I am still working and do not have access to that money unless I take out a loan and pay it back. The thing is, those income looks good on paper, but it is not my actual income. I can't take money out of my 457 unless it's a loan and pay back. I don't understand why they added this to my income. Anyway, they always call and tell me that they are getting ready to do eviction, and I am the only one who is keeping them from renting their market rate apartment. I wish I had the income to go and buy my own place. Sometimes, I feel like I am burdened to them. At least, that's how they make me feel. Now, I know a little more about the policy, and I feel much at ease.
@rodneybrown68183 жыл бұрын
Why done the landlord or manger explained to the tenant how they are calculate rent base on low income tax credit program and the level of the A.M.I . why I'm asking this because the government help a lot people though cise covid-19 . some landlord and apartments manger see a opportunity still extra money from the tenant by not explained what they received from the government in the tenant name on the lease.
@isaacotienooketch64893 жыл бұрын
im requesting to support me in kenya through my wark in kenya thank you.