The
Tax Exempt Bond Division administers VCAP to help governmental issuers resolve violations of the federal tax laws applicable to their tax-exempt bonds, tax credit bonds, or direct pay bonds.
The organization, along with a number of other groups, formed the
Tax Exempt Bond Recycling Coalition.
When asked why he robbed banks, Willie Sutton responded, "Because that's where the money is." A similar spirit has informed the early efforts of the Internal Revenue Service's
Tax Exempt Bond (TEB) Group in its choice of which bonds to audit.
THE PENNSYLVANIA HOUSING FINANCE AGENCY (PHFA), Harrisburg, Pennsylvania, is allocating $32.65 million of
tax exempt bond authority for rental housing developments in Philadelphia and Allegheny County.
Albee Development plans to use $20 million in
tax exempt bond financing to spur construction of its City Point development project.
Thirteen of the round three Cornerstone sites proposed funding from HDC programs: HDC's New Housing Opportunities Program (New HOP), an initiative designed to meet the affordable housing needs of middle income New Yorkers; HDC's Tax Exempt 80/20 Program, which creates affordable housing for low-income tenants in some of the most desirable locations in the City; and HDC's Low-Income Affordable Marketplace Program (LAMP), which combines the use of
tax exempt bond financing with Federal Low Income Housing Tax Credits and other subsides to produce housing affordable to those earning less than 60% of area median income.
Farrell Fritz, PC announced that Peter Curry, a partner in its new Melville office, represented Michael Reilly Designs, Incorporated and its affiliate, Plant 7 Calverton, Inc., in a $7.1 million
tax exempt bond financing with the Town of Riverhead Industrial Development Agency on Oct.
* Completed a merger with American
Tax Exempt Bond Trust (ATEBT).
Charter Municipal Mortgage Acceptance Company and American
Tax Exempt Bond Trust jointly announced that the merger of ATEBT with and into a wholly-owned subsidiary of CharterMac, CM Holding Trust, was finalized and certificates were mailed to shareholders on Nov.
In addition, most sites are eligible for wage tax credits, investment credits, utility rate reductions, employee training benefits and
tax exempt bond financing.
The New Jersey Economic Development Authority, an independent self-supporting state agency, has issued a $17.86 million
tax exempt bond to help finance the project.
The execution utilized publicly-issued
tax exempt bonds and 4% tax credit equity, provided by PNC Bank, to fund approximately USD 11 million in repairs, renovations and upgrades to the community.