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Beginner's guide to tax-exempt bonds for affordable housing / Alysse Hollis and Richard M. Froehlich.
- Format:
- Book
- Author/Creator:
- Hollis, Alysse, author.
- Froehlich, Richard M., author.
- Language:
- English
- Subjects (All):
- Securities, Tax-exempt--Law and legislation--United States.
- Securities, Tax-exempt.
- Physical Description:
- 1 online resource (xii, 55 pages) : illustrations
- Edition:
- 1st ed.
- Place of Publication:
- Chicago, Illinois : American Bar Association, [2016]
- Summary:
- There are many types of facilities that provide living spaces, but may not qualify as residential rental housing at all. And, even if they do, they may not qualify for tax-exempt financing. This book will serve as a guide to help attorneys successfully navigate the intricate system of tax-exempt financing.
- Contents:
- Intro
- Title Page
- Copyright Page
- Contents
- About the Authors
- Introduction
- I. Chapter Overview
- II. Eligible Projects
- Chapter 1 General Legal Framework
- I. Types of Tax-Exempt Bonds
- Chapter 2 Parties/Process/Roles of Counsel
- I. Parties
- A. Issuer
- B. Borrower
- C. Underwriter/Bond Purchaser
- D. Equity Investor
- E. Trustee
- II. Process and Procedure
- A. Inducement
- B. TEFRA Approval
- C. Authorizing Resolution
- 1. Standard Documentation
- D. Roles of Counsel
- Chapter 3 Tax and Securities Core Concepts
- I. Internal Revenue Code Requirements
- A. Good Costs/Bad Costs
- B. 15% Rehabilitation Requirement
- C. Functionally Related and Subordinate Facilities
- D. Volume Cap
- E. Substantial User
- F. Additional Rules
- II. Securities Act Requirements
- A. Rule 10b-5
- B. Rule 15c2-12
- Chapter 4 Specific Structures
- I. Credit Enhancement-Fannie, Freddie, and FHA
- II. The Financial Crisis and the Changing Landscape
- A. Federal Support for Affordable Rental Housing
- III. Conclusion
- Chapter 5 Recycled Bonds and Bifurcated Structures as Tools for Multifamily Housing
- I. The Provisions
- A. Recent Use of Volume Cap
- B. Annual Volume Cap (2011-14)
- C. Volume Cap Used (2011-14)
- D. Volume Cap Carry Forward
- E. Prior Years Carry Forward Abandoned: 2011-14
- II. Challenges to Using Recycling Authority
- III. Bifurcation
- IV. Recycled Bond Case Studies
- A. St. Ann's Terrace
- B. Ocean Village
- C. The Tiffany
- D. University Avenue Consolidated (UACIII)
- E. The Bradford
- F. 160 Madison
- V. Bifurcated Case Study
- A. 261 Hudson Street
- B. Combining Recycling and Bifurcation
- C. Applicability.
- Notes:
- Includes bibliographical references and index.
- Description based on print version record.
- Description based on online resource; title from PDF title page (EBook Central, viewed March 12, 2024).
- Description based on publisher supplied metadata and other sources.
- ISBN:
- 1-63425-543-7
- OCLC:
- 1396696305
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