Low-Income Housing Tax-Credits provide a dollar-for-dollar federal tax credit to reduce tax liability for developers and investors. LIHTCs are available to encourage investment in the development of low income housing developments. Credits are available for new construction and substantial rehabilitation/remodeling.
There are strict requirements for obtaining LIHTCs. An experienced attorney can represent nonprofit and for profit developers, as well as housing bond issuers. Attorneys will assist in negotiating financing; structuring transactions; managing LIHTC portfolios and complying with requirements to maximize LIHTC investor equity. Involve an attorney early in the process of obtaining low-income housing tax credits.
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