Affordable Housing Developers Anxious amid Tax Uncertainty
Publisher: Law360
May 11, 2017
Real estate partner Craig Gianetti was quoted in an article titled "Affordable Housing Developers Anxious amid Tax Uncertainty" (subscription required) that was published by Law360. The article discusses how the affordable housing community is waiting to receive clarity from Washington regarding the Administration's proposed reform to the corporate tax rate. Craig discussed how the tax uncertainty has created volatility in what investors are willing to pay for low income housing tax credits that can be applied against federal corporate income tax. This has impacted projects that have been in the development approval process since before the election. "The flux we're in now is there's a market for this," Craig told Law360. "When the developer is looking to do a project, they can't apply for the tax credits until they have preliminary approval from the town for the development."
