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ask Romero
it seems like its a very uphill battle to put AH in the city
can the school handle the kids
what baout the traffic
what about the noise
what about the heat island
They are called low-income housing tax credits, a program offered by the Internal Revenue Service that's been called the best tool for building affordable housing. Some housing experts refer to them as "free money." Here's roughly how they work: A developer obtain the credits through a highly competitive process, and sell the tax credits to investors in exchange for cold hard cash that's used to finance the new housing. Investors like Google and Wells Fargo, who use the tax credits to get a portion of their tax obligation deferred.
STATS
what is occupancy at tax credit properties
They help people looking for all ranges of affordable housing.
these are people who have jobs and children
Durons
Phyllis Phillips
???
They can also be very controversial. Developers are encouraged to engage the communities they want to build affordable housing in, which often leads to NIMBYism, the acronym for the phenomenon also known as "not in my backyard." Last year in San Antonio, a local council member tipped the scales during the local process so that it benefited a certain part of town more than the others, a tactic not appreciated by her peers. It also puts into question how much developers are profiting from the program, some of whom's whole business model is building tax credit projects.
frontline
/ / / / / evictions???
millions of families became renters
at the same time, incomes were going down
that lead to a rental affordaiblity crisis that's as bas as its ever been in our history
we have over $11M houeholds spending more than half of their income on housing
Nal Loe income housing coalition
section 8 vouchers, applications, thousands of residents
voucher pays the difference between monthly rent and what the household can afford
section 8
younger kids are sig more likely to finish school, go to college, earn more money, not have teen pregnancy
the younger the kids, the bigger the impact
1933
public works administration began to build public housing / / / / /
??? questions
like a regular development
lender
investors / equity
rate of return???
% they cover
who do you sell to?
free money??
what's the difference between 4% and 9%
Rene and Arely Duron, both 25, were driving by the near South Side when they saw some brand new apartments being built across from Confluence Park. They were looking to move from an apartment complex on the northeast side, where they were paying more than $900 for a tiny apartment where they fit the two of them and their two young children.
"I'm curious about what it's going to cost," Rene remembers thinking at the time. "I'm sure we can't afford it."
» WHO LIVES HERE
missing middle
Duron family
MHPTF stats or NHSD stats
little understood
Frontline
May 9
2017
Frontline link
why they are so controversial???
How they work
Who buys tax credits
tdhca
... let's take a break here
Services
Phyllis Phillips
At the CC level
Last year's process
the tenant or the developer?
madhouse, whole business model
/ / /
WHO BUYS THE TAX CREDITS??? WHO DO YOU SELL THE TAX CREDITS TO?
WHO ARE THE MAJOR PLAYERS LOCALLY? WHO ARE ALL THE PLAYERS LOCALLY THE LAST 10 YEARS?
DO THEY ALL ACCEPT SECTION 8 VOUCHERS???
ARE NEIGHBORHOODS AGAINST LIHTC THIS
check the CC A from the last time
/ / /
Contact Ben Olivo at 210-421-3932 | ben@saheron.com | @rbolivo on Twitter
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SA fluctuations
» how is tax credit units
» section 8 vouchers (move with tenants)
» section 8 assistance tied to buildings
» public housing
understand the amount awarded, and how much the developer actually gets
is it altruistic or is it a better profit model than for-profit, because it's free money?
sophia
» low-income housing tax credits and the Fair Housing Act
no provisions reducing racial segregation
is it moving poor people to affluent neighborhoods , integration
OR
is it building up latino and black communities
where are they predominately built in SA?
» nybism not just higher income
» neighborhood around rio lofts
» undo san antonio's economic segregation versus a community's right to have a voice
» what about a developer's right to build on land it owns, this is texas
» why aren't developments getting built?
prosper's effort , they got a grant, to talk about affordable housing
NEED TO GET AN IDEA FOR THE RETURN!!!!!!!!
wonder how developers can make money in affordable housing???
both socially responsive and financially profitable
??? what others of the old downtown S.A. buildings got them
» get complete list
$???B a year LIHTC program
is there a finite number of tax credits???
it's an industry
need a N against a development
why hasn't the change in tax code impacted san antonio? or has it?
how has san antonio's policies been changed to ??? What caused the changes???
recession of 2008-09 had an impact, as banks stopped buying them ...
Trump's tax code reform also has affected them ...
also, Community Reinvestment Act
SA has depositors, so this is a nonissue???
is propsoeras buyers regional??? local???
why add the services???
??? in texas, the public facilities corp. » make this more powerful than LIHTC
prospera expert
is the gap because of the lower tax rate's impact on investors
??? eliminate single family zoning
inclusive zoning
those who earn too much for government help but not enough to afford market rates
impact of new development
alters neighborhoods
residents are divided
we're not at the point of lottery housing
does ACG use any other method besides LIHTC
construction and land costs to build new housing have risen, and the wages that low-skilled workers can afford to spend on rent have stagnated
veterans focussed development
do other developers do this?
SAHA
government retreating from building large concentrations of public housing
Duron
Phillips
???
They are called low-income housing tax credits, a program offered by the Internal Revenue Service that's been called the best tool for building affordable housing. Some housing experts refer to them as "free money." Here's roughly how they work: A developer obtain the credits from the U.S. government, through a highly competitive process, and sells the tax credits to investors in exchange for equity, cold hard cash, that's used to finance the new housing's cost. Large financial institutions like Wells Fargo, Chase and Bank of America purchase the credits, which they use to offset their tax liability.
Duron
BACK
Investors like Google and Wells Fargo, who use the tax credits to get a portion of their tax obligation deferred.
STATS
what is occupancy at tax credit properties
They help people looking for all ranges of affordable housing.
these are people who have jobs and children
Durons
Phyllis Phillips
???
They can also be very controversial. Developers are encouraged to engage the communities they want to build affordable housing in, which often leads to NIMBYism, the acronym for the phenomenon also known as "not in my backyard." Last year in San Antonio, a local council member tipped the scales during the local process so that it benefited a certain part of town more than the others, a tactic not appreciated by her peers. It also puts into question how much developers are profiting from the program, some of whom's whole business model is building tax credit projects.
frontline
/ / / / / evictions???
millions of families became renters
at the same time, incomes were going down
that lead to a rental affordaiblity crisis that's as bas as its ever been in our history
we have over $11M houeholds spending more than half of their income on housing
Nal Loe income housing coalition
section 8 vouchers, applications, thousands of residents
voucher pays the difference between monthly rent and what the household can afford
section 8
younger kids are sig more likely to finish school, go to college, earn more money, not have teen pregnancy
the younger the kids, the bigger the impact
1933
public works administration began to build public housing / / / / /
??? questions
like a regular development
lender
investors / equity
rate of return???
% they cover
who do you sell to?
free money??
what's the difference between 4% and 9%
east meadows LOST
Rene and Arely Duron, both 25, were driving by the near South Side when they saw some brand new apartments being built across from Confluence Park. They were looking to move from an apartment complex on the northeast side, where they were paying more than $900 for a tiny apartment where they fit the two of them and their two young children.
"I'm curious about what it's going to cost," Rene remembers thinking at the time. "I'm sure we can't afford it."
» WHO LIVES HERE
missing middle
Duron family
MHPTF stats or NHSD stats
little understood
Frontline
May 9
2017
Frontline link
why they are so controversial???
How they work
Who buys tax credits
tdhca
... let's take a break here
Services
Phyllis Phillips
At the CC level
Last year's process
the tenant or the developer?
madhouse, whole business model
/ / /
WHO BUYS THE TAX CREDITS??? WHO DO YOU SELL THE TAX CREDITS TO?
WHO ARE THE MAJOR PLAYERS LOCALLY? WHO ARE ALL THE PLAYERS LOCALLY THE LAST 10 YEARS?
DO THEY ALL ACCEPT SECTION 8 VOUCHERS???
ARE NEIGHBORHOODS AGAINST LIHTC THIS
check the CC A from the last time
/ / /
Contact Ben Olivo at 210-421-3932 | ben@saheron.com | @rbolivo on Twitter