Novogradac & Company Llp

Building for-sale affordable housing in economically distressed areas is a challenge that many for-profit and nonprofit developers face and a key hurdle is gaining financial equity. One method is the use of new markets tax credits to finance such housing and in today's Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner George Barlow, CPA, discuss the issues and opportunities related to such financing. They begin by talking about possible sources for such housing, then discuss the requirements for NMTC-financed for-sale housing, who is involved in this and where it works best. They also discuss how and when to contact a community development entity, significant tax issues and more.