Lawmakers propose tax credits for struggling homes and businesses accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
Ohio housing groups are watching a federal tax credit proposal designed to bridge appraisal gaps
Neighborhood Homes Coalition
A map shows Census tracts in Greater Cleveland that would qualify for tax incentives for single-family housing under the Neighborhood Homes Investment Act. The bill would create a federal income tax credit designed to spur investment in new and renovated homes in communities with high poverty rates and depressed real estate values.
A bipartisan group of senators on Capitol Hill revived legislation this week to create a new federal tax credit meant to bolster investment in single-family homes in low-income neighborhoods a proposal being closely watched by housing advocates and community development groups across Ohio.
A rendering of the project at 2500 Jerome Ave.
A tax change included in the recently passed $900 billion federal economic relief bill has helped ensure that an affordable and supportive housing development in the Bronx will be able to move forward, its developer said.
The bill included a tweak to the Low-Income Housing Tax Credit. It established a minimum floor of 4% for the credit, separating it from interest rates that the Treasury Department sets. Developers sell the credits to raise funds for projects, and the change makes the tax credit more valuable.
Nonprofit housing agency Concern for Independent Living is already feeling the impact of the change at multiple projects, including a 105-unit development at 2500 Jerome Ave. in the Fordham section of the Bronx. CIL partnered with the neighboring St. James Church on the project, which was designed to include a new extension and renovations for the historic Episcopal church, but the developer soon ran into financial difficultie
Affordable housing: Trinity project receives final plat, bids out for construction
courtesy image via Missoula Current
The Mullan Road portion of the Trinity project will include 130 units. That includes 30 supportive housing units and 100 units of workforce housing.
and last updated 2021-01-14 18:29:13-05
MISSOULA â A coalition of Missoula housing partners received final plat approval from the county on Thursday for a permanently affordable residential project planned near West Broadway and Mullan Road.
Now years in the making, the Trinity project would provide roughly 130 units of affordable housing, along with wrap-around services. The apartments are planned on property donated by Missoula County in 2019.
Thu January 14, 2021 - Northeast Edition #2
Lucy Perry â CEG CORRESPONDENT
Paycheck Protection loan program revisions mean employers that used PPP loans to save jobs will not be forced to pay more taxes next year as a result.
Last month, President Trump signed into law the
Consolidated Appropriations Act (the CAA ) federal stimulus package. During the week of Jan. 10, 2021, the Small Business Administration (SBA) launched a new round of
Paycheck Protection Program (PPP) loans tailored to small businesses hit by the coronavirus pandemic.
This PPP round adds $284 billion in new forgivable loan funds to the $525 billion already distributed.
In answer to criticism that minority and women-owned businesses did not get enough money during the first two PPP rounds last year compared with bigger businesses SBA tweaked its program rules.