Had a scary convo today abt how this makes Low-Income Housing Tax Credits less attractive to banks & may crush affordable housing productionhttps://twitter.com/nytimesbusiness/status/817830178604851200 …
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for rich people or corporations avoiding tax obligations by parking their money in low-income housing
we could never build the same # of aff units if LIHTC were eliminated - too much equity
LIHTC was created in 1986, after the federal govt stopped building public housing at scale in 1983
genius of LIHTC is it takes compliance oversight away from govt bureaucracy & gives to private investor w/ IRS penalty threat
buuut public LIHTC agencies still have annual compliance requirements, not to mention the public gap lenders
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