New Tax Reform Impact on Affordable Housing

New Tax Reform Impact on Affordable Housing

Jones & Roth strategic partner and affordable housing leader, Enterprise Community Partners, has created a concise summary of the new tax reform details that will impact Affordable Housing. Enterprise reports that the Tax Cuts and Jobs Act retains the Low-Income Housing Tax Credit (Housing Credit), with no modifications. The amendment that Sen. Pat Roberts (R-KS) added to the Senate bill was removed in the final bill. This amendment would have replaced the existing Housing Credit general public use requirement exception for artist housing with one for veterans; treated rural areas as difficult development areas for purposes of receiving a basis boost; and reduced the maximum basis boost for all types of boost-eligible developments from 130 to 125 percent. Read the full article on Enterprise’s website  ...
Orchards at Orenco, One of Oregon’s Greenest Buildings, Gets National Spotlight

Orchards at Orenco, One of Oregon’s Greenest Buildings, Gets National Spotlight

This is a terrific new development for affordable housing in Hillsboro, Oregon. Jones & Roth wants to congratulate the team at REACH CDC and the entire stakeholder group that they assembled in order to make this project a reality. The largest multi-family passive house on the continent, which happens to be in Hillsboro, has earned a prominent listing. REACH CDC’s Orchards at Orenco landed a spot in the book Net Zero Energy Buildings: Passive House + Renewables, published by North American’s Passive House Network. Read the full article written by Andy Giegerich of the Portland Business Journal...
Jones & Roth CPA Fritz Duncan Partners with NW Affordable Housing Organizations

Jones & Roth CPA Fritz Duncan Partners with NW Affordable Housing Organizations

By Sophia Bennett Sophia is a freelance business writer based in Eugene, Oregon. Her work has appeared in Oregon Business, 1859 Oregon’s Magazine and many other publications. The moment when a family steps into their new home for the very first time, their eyes lighting up as they take in clean rooms and safe spaces to raise their kids, is what keeps every affordable housing developer going. The daily grind that comes before that beautiful new or rehabilitated building opens can feel less rewarding. Resources are scarce, which means funding applications have to be flawlessly written. Land dedicated to building affordable housing is also harder to come by, making site selection challenging. And the regulatory environment is constantly shifting, with funders and partners implementing new rules and monitoring requirements all the time. That means nonprofits (or anyone who develops affordable housing) need partners they can trust – ones who will be there for them from the beginning of a project to the day it transitions ownership. Jones & Roth CPAs and Business Advisors aims to be one of those partners for affordable housing developers all over the northwest. They believe a comprehensive set of services that can help executive directors, housing directors and CFOs manage housing projects from beginning to end will help get them there. Help at every step along the way Jones & Roth’s five-person affordable housing team can begin working with clients when they’re putting together their tax credit applications to the state regulatory agency, and continue working with them all the way through year 15. When a nonprofit is in the process of applying for...