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Thursday, April 15, 2021 AN IMPORTANT NEW OPTION FOR FINANCING AFFORDABLE HOUSING The federal “9%” Housing Tax Credit (HTC) program, designed to finance up to 70% of qualified development costs, has for decades been the principal engine for the financing of low income housing in the United States. HTCs function like grants because the return to investors comes from the credits they take against their federal income tax liability over a ten-year period. Unfortunately, there is a limited supply of 9% HTCs and the allocation process, administered by state housing agencies, is highly competitive. While some tribally-designated housing entities (TDHEs) have been successful in obtaining 9% HTCs, most have not. Demand for the 9% HTCs far outstrips supply and many states’ criteria give preference to urban developments, making it difficult for tribes to file successful applications. Tribes unable to access the 9% HTC program have incorrectly assumed that the ....
ADVERTISEMENT ADVERTISEMENT Ala. Tribe Need Not Face Burial Grounds Suit, Judge Rules Law360 (March 16, 2021, 5:32 PM EDT) An Alabama federal judge tossed a suit brought by the Muscogee Creek Nation claiming that the Poarch Band of Creek Indians obtained sacred burial grounds under false pretenses, leaving open the possibility for a narrower challenge seeking to return bodies and funerary objects. U.S. District Judge Myron Thompson ruled Monday that Poarch Band, its gaming authority and tribal officials are protected under sovereign immunity from the suit challenging its decision to build the $246 million Wind Creek Casino & Hotel on the Hickory Ground burial site. Judge Thompson added that parallel claims against federal defendants couldn t go forward without the tribe. ....