Fall 2010 issue of Horizons

Real Estate – continued

Reid is concerned that increasing the bill’s size will cost him the Republican votes he needs to pass it and expose it to an onslaught of amendments. Reid hopes to move this bill quickly, once the unemployment benefits measure passes. You can make a difference by reminding your senators, particularly your finance committee members, of the urgent need to enact the above- referenced housing credit and bond provisions in a tax bill this year. Please make sure to ask them to communicate their support to Reid and Minority Leader McConnell (R-KY), as well as Finance Committee Chairman Baucus (D-MT) and Ranking Member Grassley (D-IA). Tax Credit Data Released The Low-Income Housing Tax Credit (LIHTC) database, available to the public since 1997, was revised in February 2010 and includes information

on nearly 31,251 projects and over 1.8 million housing units placed in service between 1987 and 2007. The database details the size, unit mix, construction type, financing sources, and location of individual projects. A set of 36 tables reports national and regional trends. Created by the Tax Reform Act of 1986, the LIHTC program allows authorized state and local LIHTC agencies to allocate up to $8 billion in federal tax credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower- income households. HUD’s LIHTC database is a great source of information on individual LIHTC projects. The database can be located at www.huduser.org/ portal/databases/lihtc.html . For more information on ways RubinBrown can assist you and your business, please contact us.

RubinBrown’s Real Estate Services Group

Bryan Keller, CPA Partner-In-Charge Real Estate Services Group bryan.keller@rubinbrown.com 314.290.3341

Glenn Henderson, CPA, CFP Partner Tax Consulting Services Group glenn.henderson@rubinbrown.com 913.491.4429

Jim Massaro, CPA Partner

Tax Consulting Services Group jim.massaro@rubinbrown.com 303.698.1883

Raise Your Expectations

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