Editor's Note: Michelle Yarbrough Korb is special counsel in the Real Estate Practice Group of Pepper Hamilton LLP, resident in the Pittsburgh office. Her practice focuses in the affordable housing industry with an emphasis on development, including the utilization of low-income housing tax credits, federal programs and programs offered by individual states, as well as the Federal Home Loan Bank's Affordable Housing Program. In this exclusive two-part Q&A, she describes programs that support affordable housing development.
Q: How do developers figure out all of the incentives and financing choices they face in the affordable housing market?
A: If you are a real estate developer looking to enter the affordable housing marketplace, you have likely seen the acronym LIHTC (low-income housing tax credit) but may be wondering how one works with a public housing agency (PHA) to obtain operating subsidy or project-based vouchers (PBVs). If you are dealing with a public housing agency's aging housing stock in need of revitalization or in the market for additional rental units, you may be wondering if a unit may be both a public housing and LIHTC unit.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
