Are 'New Markets Tax Credits' the vehicle to improve community and economic development in ways America has never seen?
"The New Markets Tax Credit was born in 2000, when Congress approved it as part of the Community Renewal Tax Relief Act. Its parents were the historic preservation and low-income housing tax credits, established in 1976 and 1986 respectively.
...The larger aim of the newest tax credit, as described in 2004 by Samuel Bodman, deputy secretary of the Treasury Department, is to "empower the people who live, work, and invest in communities to make decisions about what type of ventures will create the most jobs and grow the local economy."
...Financial heavyweights have been attracted to the table. Typical is Goldman Sachs, which was awarded a $75 million new markets tax credits allocation in 2003. A subsidiary, the Urban Investment Group, acts as a syndicator, asset manager, and matchmaker for infill development in urban markets, focusing on ownership housing, mixed-use developments, and stand-alone commercial projects."
FULL STORY: Give Us Some Credit
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
Defunct Pittsburgh Power Plant to Become Residential Tower
A decommissioned steam heat plant will be redeveloped into almost 100 affordable housing units.
Trump Prompts Restructuring of Transportation Research Board in “Unprecedented Overreach”
The TRB has eliminated more than half of its committees including those focused on climate, equity, and cities.
Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont