EPISODE · Jun 16, 2026 · 32 MIN
June 16, 2026: So You Want to be a LIHTC Developer: Multi-Year, Multi-Building PAB Development Complexity
from Tempo 110 · host Novogradac
On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Charles Rhuda III, CPA, discuss several challenges that may arise while developing an affordable housing property with multiple buildings financed by private activity bonds (PABs) in combination with 4% low-income housing tax credits (LIHTCs), including when those buildings are placed in service across multiple years. Novogradac and Rhuda highlight several issues that developers, syndicators and investors should be aware of, including satisfying 25% financed-by test requirements and challenges that may come up during the lease-up period. They also discuss potential complications when using recycled PABs and other sources of financing to close the gap.
What this episode covers
On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Charles Rhuda III, CPA, discuss several challenges that may arise while developing an affordable housing property with multiple buildings financed by private activity bonds (PABs) in combination with 4% low-income housing tax credits (LIHTCs), including when those buildings are placed in service across multiple years. Novogradac and Rhuda highlight several issues that developers, syndicators and investors should be aware of, including satisfying 25% financed-by test requirements and challenges that may come up during the lease-up period. They also discuss potential complications when using recycled PABs and other sources of financing to close the gap.
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June 16, 2026: So You Want to be a LIHTC Developer: Multi-Year, Multi-Building PAB Development Complexity
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