Ice Miller partner Kip Wahlers was quoted in The Huddle Up article,"The Role of a Conduit Tax-Exempt Bond Issuer in Affordable Housing Development," as part of the quarterly update from the Columbus-Franklin County Finance Authority.

The article included: 

When it comes to building or preserving affordable housing, particularly through Low-Income Housing Tax Credit (LIHTC) projects, tax-exempt bonds play a critical role. As a bond issuer, the Columbus-Franklin County Finance Authority (“Finance Authority”) serves as vital conduit providing private entities access to tax exempt bonds that address community needs such as affordable housing.

The LIHTC is a federal program that provides tax incentives to developers to build or rehabilitate affordable rental housing for low-income tenants. Developers receive tax credits over a 10-year period, which they can sell to investors to raise equity for their projects. This equity, combined with other funding sources, helps finance development costs.

“To receive the maximum amount of tax credit equity for a housing development without applying for a competitive tax credit allocation, at least 50 percent of the project costs must be financed through tax-exempt volume cap bonds,” says attorney Kip Wahlers of law firm Ice Miller, who often represents multifamily clients.

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