For older multi-family housing properties that need rehabilitation beyond what is possible with replacement reserves, developers will seek outside investors interested in tax credits. New private equity players are assembling funds to support these projects and preserve affordable housing, but the project must be large enough to make it worth their investment. Resyndication is one way to expand the scope of the deal, specifically by ... more
Archives for September 2022
5 Ways to Get More Out of Your Career
There are plenty of opportunities for accounting career development here at LvHJ. When you’re in a rut or you feel like you’ve been doing the same thing for far too long, you can always make a change for the better. It all starts from within. Whether you are a seasoned professional or an intern just starting out, here are five ways you can get more out of your career – and you will feel more fulfilled, too! 1. Start a Club Are there clubs ... more
New Broadband Access Grant Program for Affordable Housing
Developers in underserved communities will have access to federal passthrough state grants to lower installation costs of broadband internet in new developments and existing multi-family properties. The grants will help finance delivery of free Wi-Fi access to residents. Part of the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA), the Broadband Equity, Access, and Deployment Program (BEAD) offers $100 million (minimum) to each state ... more
Preparing for Your Single Audit
For many not-for-profits, federal funding is vital for sustaining programming and operations. However, the funding could carry requirements for compliance and financial reporting. For example, if a not-for-profit entity expends $750,000 or more in federal funds in its fiscal year, this will trigger the requirement for a single audit under the Uniform Guidance for testing of the entity compliance with federal award requirements. Furthermore, ... more