Tax Credit Advisor: March 2010 Preview
Tax Credit Advisor: March 2010 Preview
Getting in the Game: Community Bank Makes the Leap to LIHTC Investor
Tax Credit Advisor Content
March 2010 – Wes Blair, senior vice president of Brookline Bank, a community bank in Eastern Massachusetts, looks at investing in low-income housing tax credits a number of years ago and thought the yield was too low. After seeing the higher yields in the past year and working with the Massachusetts Housing Investment Corporation, Blair and his bank in December made the leap to first-time investor, closing on a side-by-side equity investment in Shillman House, a 149-unit new mixed-income rental housing development in Framingham. Blair talks about the process that he and the bank went through to get to the point of saying yes...
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