Jose Vila, CPA’s Post

Take action now—qualified projects currently under construction can take advantage of the new maximum ABR credit of $700k if special action is taken by October 15, 2024. The South Carolina Department of Revenue (SCDOR) issued further guidance on June 10 that allows current projects to amend their Notice of Intent to Rehabilitate to increase their estimated rehabilitation expenses. https://okt.to/XJFijg #TaxCredits #CommunityRevitalization #RealEstate

Take action now—qualified projects currently under construction can take advantage of the new maximum ABR credit of $700k if special action is taken by October 15, 2024. The South Carolina Department of Revenue (SCDOR) issued further guidance on June 10 that allows current projects to amend their Notice of Intent to Rehabilitate to increase their estimated rehabilitation expenses. https://okt.to/GdaBPy #TaxCredits #CommunityRevitalization #RealEstate

Take action now—qualified projects currently under construction can take advantage of the new maximum ABR credit of $700k if special action is taken by October 15, 2024. The South Carolina Department of Revenue (SCDOR) issued further guidance on June 10 that allows current projects to amend their Notice of Intent to Rehabilitate to increase their estimated rehabilitation expenses. https://okt.to/nxcGaQ #TaxCredits #CommunityRevitalization #RealEstate

Take action now—qualified projects currently under construction can take advantage of the new maximum ABR credit of $700k if special action is taken by October 15, 2024. The South Carolina Department of Revenue (SCDOR) issued further guidance on June 10 that allows current projects to amend their Notice of Intent to Rehabilitate to increase their estimated rehabilitation expenses. https://okt.to/aM8X9Q #TaxCredits #CommunityRevitalization #RealEstate

Take action now—qualified projects currently under construction can take advantage of the new maximum ABR credit of $700k if special action is taken by October 15, 2024. The South Carolina Department of Revenue (SCDOR) issued further guidance on June 10 that allows current projects to amend their Notice of Intent to Rehabilitate to increase their estimated rehabilitation expenses. https://okt.to/T5K3r8 #TaxCredits #CommunityRevitalization #RealEstate

West Suffolk

Would it surprise you if the Government's hopes that land value will fund new #infrastructure rest with this construction cost study? The Centre for Progressive Policy's 'Gathering the Windfall' report cited this 2012 assessment has their source for an average national site development cost of £130k per ha (c.£3,700 per dwelling). This was referenced again in an article today by the Financial Times, see https://lnkd.in/eXFdg4nR, pointing to a 275 times uplift in land value with planning which in turn justifies land value capture. Knight Frank Development Partnerships specialises in new settlement delivery and in our experience the cost of infrastructure is currently closer to £2.275m per ha (£65k per dwelling). This difference (of £2.15m per ha) means that government policy is founded on a false expectation. Projects may begin with great enthusiasm but will soon be derailed on viability issues. When are we going to have a well-informed conversation on how infrastructure is funded?

The new NPPF consultation has now been published and will run until 24th September 2024. A tracked changes version is linked here: https://lnkd.in/gExQCb_i As expected. the focus is on changes to increase the supply of housing to deliver 1.5 million new homes in the next 5 years. The headlines include: ⚪ The reinstatement of the 5 year housing land supply test, with 4 year tests and exemptions now removed. ⚪ Under transitional arrangements, the new provision of the NPPF will apply unless the Council has a Local Plan at Regulation 19 stage. Detailed transitional arrangements are provided in Annex 1. ⚪ Paragraph 61 has been changed to ensure that Local Plans meet the identified housing need within an area, rather than 'as much of it as possible'. ⚪ The Standard Method has been revised, with targets rising from 300,000 to approximately 370,000, however cities such as Coventry and Birmingham have seen their standard method numbers drop significantly. ⚪ The addition of ‘grey belt’ which is defined as: land in the Green Belt compromising previously developed land and any other land that make a limited contribution to the five Green Belt purposes. I’m sure that ‘grey belt’ will be a huge area of debate going forward. 

A detailed commentary that I hope is of interest.

The Housing Minister and Secretary of State announced last week that Lord Charles Banner KC is to lead a Government review into the planning and delivery of national infrastructure projects.   The review will explore the legal challenges made to Nationally Significant Infrastructure Projects (NSIPs), whether they are unduly held up and, if so, why and how the problem(s) might best be resolved. Successful and unsuccessful challenges can set major projects (such as roads, offshore windfarms and waste water management facilities) back by years. As part of the review, Charlie will produce a written report containing recommendations based research and engagement with key stakeholders.     Charlie said: “I am looking forward to analysing the information available, as well as the feedback from key stakeholders, to ascertain whether, within the terms of reference, there is a case for improving the process for legal challenges of NSIPs in a way that would reduce any identified impacts of inappropriate legal challenges whilst maintaining constitutional principles and relevant international obligations.”   The announcement can be found at https://lnkd.in/eiEWjJxn