LIHTC California Pipeline Survey!
2/12/2010 ~ LIHTC 2010 California Pipeline Survey
Click here to complete the survey now!
The California Housing Partnership, California Housing Consortium, the Nonprofit Housing Association of Northern California, Southern California Association of NonProfit Housing, San Diego Housing Federation, the California Coalition for Rural Housing and the California Council for Affordable Housing are working together to collect data about pending Low Income Housing Tax Credit (LIHTC) projects in California. This data has been requested by Congressional staff working on legislation to extend and expand the 9% LIHTC Exchange to allow the exchange of 4% Credits in 2010 along with other LIHTC market improvement measures embraced by a national coalition including the ability for investors to carryback LIHTCs and the expansion of eligible investors to include certain LLCs, S corporations and closely held C corporations ( see http://RentalHousingAction.org/about-action/the-proposals for more information).
CHC has been working to advance the proposed changes to the tax credit program that are being advocated nationally, including extension of the 9% exchange, expanding the exchange to the 4% credit and expanding the investor pool by allowing investors to carry back credits for five years and easing the passive loss rules so LLC and S Corp banks could benefit from the credit. More detailed information on the specifics of these proposals can be found on the ACTION website at www.rentalhousing.org. The complete advocacy toolkit can be found at www.rentalhousingaction.org/about-action/advocacy-toolkit. The toolkit has the three proposals in short and long forms, sample letters that could be sent, descriptive papers on jobs creation, list of Senate Finance and Ways & Means members, etc.
We need your help to encourage Congress to include these proposals in potential jobs bills.
As you probably know, Congress is now focused on passing a jobs bill, or a series of jobs bills. We need to be able to show our Congressmen and Senators how the low income housing tax credit program can contribute to their goal of job creation and why the program should be included in these bills. We have prepared an online survey; at http://fluidsurveys.com/surveys/chpc/4-lihtc-pipeline/ and ask that you please complete it for every project you have in your pipeline that could start construction in 2010. This includes projects with credits that cannot find an equity partner and projects for which you will be applying for 9% credits or bonds/4% credits.
It is critically important that we be able to show Congress the benefits of the tax credit program and its impact on jobs. We are interested in both aggregate data and specific examples that we can use to illustrate how this program works in the districts of our California Congressional Delegation.
Please take the time to complete the survey, making sure to include a contact name so we can follow up with you on specific information about your project. If you have any questions about filling out the survey, please feel free to contact us and we would be happy to assist. Please fill out this survey by February 16th.
Thank you.
(Published by the California Housing Consortium)
