Yesterday the House Appropriations Committee approved the fiscal year 2017 Agriculture Appropriations bill, legislation which will provides spending authority for the U.S. Department of Agriculture. The bill totals $21.3 billion in discretionary spending, $451 million lower than current enacted FY2016 levels and $281 million below President Obama’s FY2017 budget request.
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NDC Corporate Equity Fund XII announced a LIHTC closing for a $5.5 million rehabilitation and consolidation of three projects, totaling 52 senior units. With the closing for this project, NDC Corporate Equity Fund adds a new state to their portfolio. The project was completed in partnership with Carefree Living Caliente, American Covenant Senior Housing Foundation and Oakleaf, LLC.
The renewable energy tax credits were all but left for dead in the tax deal struck in December, however Democrats have found a vehicle to revive the credits. Senator Thune, chairman of the Senate Commerce, Science and Transportation committee, alerted his Republican colleagues earlier this week that the FAA reauthorization bill wouldn’t move unless a compromise to extend the credits was struck with the Democrats.
The NDC American Model™ uses tax exempt bond financing and employs a private sector development team to maximize the benefits of private sector development expertise.
NDC Corporate Equity Fund XII announced a LIHTC closing for the $2.5 million rehabilitation and recapitalization of a 32 unit affordable housing development.