(RECAP: Thirty years ago Saturday – Oct. 22, 1986 – President Ronald Reagan signed legislation authorizing the most sweeping tax reform in a generation. The Tax Reform Act of 1986 (TRA ’86) was a victory of bipartisanship, as it simplified the tax code, closed loopholes, eliminated many tax shelters, raised revenues and made one of Reagan’s lasting legacies. TRA ’86 also included the low-income housing tax credit (LIHTC), arguably the most vital affordable housing production tool in American history. Three decades later, more than 13 million people are estimated to have lived in the 2.8 million homes financed by the LIHTC, with close to 100,000 homes annually made and nearly 100,000 jobs a year supported through the program.)

Powered by WPeMatico

(RECAP: More Americans bought homes in September despite a persistent shortage of properties for sale. The National Association of Realtors says sales of existing homes rose 3.2 percent to a seasonally adjusted annual rate of 5.47 million, highest since June. Sales rose across the country. The supply of available was 2.04 million, down 6.8 percent from a year ago. Tight inventories drove the median price of existing homes up 5.6 percent from a year ago to $234,200.)

Powered by WPeMatico

(RECAP: As it looks to fill the commercial space left vacant by the departure of anchor tenant Southern Season earlier this year, Libbie Mill Midtown is moving forward with construction of the mixed-use development’s first residential pieces. Construction is underway on the Neighborhood of Libbie Mill Midtown, a mix of townhomes and condos totaling 994 units for buy. Work has also started on the development’s first apartment building, a five-tale structure in the heart of Libbie Mill that will total 327 rental units and 494,000 square feet. Construction started in June and is slated to wrap up on the apartment building in 2018. Models for the townhomes and condos are slated to open in the first quarter of next year.)

Powered by WPeMatico