National Housing Trust Responds To Housing Credit Right Of First Refusal Litigation
The National Housing Trust and our mission-driven partners intend to challenge “Aggregators” like Alden Torch, which seek windfall returns by demanding the payment of money from the general partner — either from its balance sheet or from the property’s reserves — or to insist the property be sold, stripping resources out of the property and the community. We will fight this battle with every tool available,
After The Low Income Housing Tax Credits Are Done, Investors Want More
By the end of the Compliance Period, the project owner will have collected all of the Tax Credits, and other tax benefits, and is clear of any risk of recapture, thereby providing the investor limited partner or member with full realization of the economic benefits it bargained for and expected when negotiating admission to the project owner.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.