I want to learn as much as possible about development tax credits. Are there any sources you suggest?
I’m looking to try to move into development and interview a few players in town. Prior to that, I would like to get a very solid understanding of the credits available for development (tax increment financing, historic, affordable, opportunity etc). Are there any sources that you might recommend more than others that would be a good d jumping off point?
[{"id": "imlet7b", "text": "Following.", "replies": [], "depth": 1}, {"id": "imlpdgb", "text": "Honestly I would look up the city/municipality you are interested in and see if they have any documentation on their website. Typically they\u2019ll have some sort of TIF policy, etc. uploaded for all to view. Might give you an idea of what their specific process looks like.", "replies": [], "depth": 1}, {"id": "imlpu0u", "text": "Novogradac is the go to place for all things tax credits. Neighborworks offers courses and certs. I'm an affordable housing developer and utilize all of these as tools daily. Many folks will specialize in one area bc the legal mind fuckery that goes on to make these deals work is complex and small mistakes can cost big money.", "replies": [{"id": "impl3qq", "text": "This looks like a nice source so thank you. Doesn\u2019t seem like it will be too expensive to get some good information.", "replies": [{"id": "imptrno", "text": "To learn about how your state allocates lihtcs googlw your state and Qualified Action Plan. Lihtcs come from the federal govt and are then allocated at the state level. The QAP shows you how your state thinks about affordable housing. That doc is free! Also, Google both your state housing agency's notice of available funding (NOFA) and the NOFA of whatever city you're working in. This will give you an overview of the current funding available and any special initiatives they are focusing on.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "imlru4c", "text": "Novogradac is a great resource. Feel free to shoot me a dm if you have any questions.", "replies": [], "depth": 1}, {"id": "imm3v9y", "text": "The ABA has some good books that provide primers on the topic - https://www.americanbar.org/products/inv/book/420065732/", "replies": [{"id": "impl9a9", "text": "Very nice resource, thank you!", "replies": [], "depth": 2}], "depth": 1}, {"id": "immbn7u", "text": "Interesting topic. A project that I\u2019m working on right now has a historic tax credit. It took nearly 2 years to get everything registered properly &amp; approved, but in return the group is getting around a $5.7MM HTC. This is for a conversion of a historic building to a Marriott flagged property.", "replies": [], "depth": 1}, {"id": "imnfsn2", "text": "Tax credits are administered through the state so the state housing website should have multifamily sections on tax credits and how to apply.", "replies": [], "depth": 1}, {"id": "imp98on", "text": "What state, OP?", "replies": [{"id": "implb5w", "text": "I\u2019m in Nebraska, Omaha specifically.", "replies": [{"id": "imppu24", "text": "I could help if it was FL or GA. Scour your state websites for info as noted in the other comments. Google News stories about multifamily tax credits, reach out the lenders noted. There will be a  large percentage of lenders that either dabble in it or avoid it all together. A few select lenders will make it their niche. Besides tax credits...if you go affordable or workforce housing, you can acquire the land for free.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "impxkhu", "text": "Following", "replies": [], "depth": 1}, {"id": "imqjbhr", "text": "Novogradac or National Development Council (NDC). I do LIHTC projects for a nonprofit.", "replies": [], "depth": 1}]