Housing Stability Council
hgpquba
hgpquba
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
January 6, 2017<br />
LIFT NOFA Memo to <strong>Housing</strong> <strong>Stability</strong> <strong>Council</strong><br />
Updated Market Considerations:<br />
As was mentioned at the December <strong>Housing</strong> <strong>Stability</strong> <strong>Council</strong> Meeting, the LIHTC equity<br />
markets are currently reacting to anticipated federal tax reform under the new administration.<br />
This has caused a number of 9% and 4% LIHTC transactions to undergo re-pricing by their<br />
investor. We are seeing reductions in pricing range from $0.10 to $0.20 per tax credit. This is<br />
causing projects to have funding gaps. Of the 12 projects being recommended for funding, nine<br />
(9) are paired with 4% LIHTCs. We have asked all of the 4% LIHTC applicants being<br />
recommended for funding to begin looking at what this may mean for their projects.<br />
Staff is currently looking at the existing 9% and 4% LIHTC pipeline of projects that have yet to<br />
close to get a better sense on what it might take to keep these projects moving forward during<br />
this time of uncertainty. Once the analysis is complete we will be back before <strong>Housing</strong> <strong>Stability</strong><br />
<strong>Council</strong> to discuss recommendations for moving projects forward.<br />
Oregon <strong>Housing</strong> <strong>Stability</strong> <strong>Council</strong><br />
Meeting Materials Packet - Page 35
Change language