Novogradac & Company Llp

Today is Tuesday, November 10th, 2009. This week I will touch on three affordable housing topics. First, I will share some of the highlights of a debate I participated in last week regarding the strengths of the low-income housing tax credit as compared to direct federal grants. Second, I will examine the findings of a recent report by the Congressional Budget Office that compared funding levels for rental housing with the funding levels for home ownership. And third, I will review a recent congressional hearing about HUD section 202 and 811 housing funding programs. Then, I will shift gears and discuss a proposal being considered in Missouri that would subject all state credits to an annual appropriations process.' And finally, in our Project Profile Segment, I will highlight a recent new markets tax credit transaction in St. Louis, Missouri. This project combined new markets tax credits with public housing capital funds.