• The Impact and Inequities of Climate-Related Disasters on Housing

    Climate-related disasters and hazards are intensifying each year. Just this summer, July 2023 was the hottest month on record across the world. As climate-related disasters rise, housing stability is impacted—and due to decades of discriminatory housing policies in the United States, including redlining, lower-income and minority communities are most at risk. In recent years, the [...]

  • Housing Discrimination: Big Data, AI, and Algorithmic Models

    With the rise of artificial intelligence, big data, and highly-attuned algorithmic models, more and more insurance providers, landlords, and mortgage brokers are turning to AI programs to screen tenants, determine rates, and offer loans. However, the prevalence of bias and discrimination within these algorithms is only exacerbating the challenge of safe, affordable housing access for [...]

  • We Need More Homes: Overcoming the Housing Shortage and Production Challenges

    In the United States, the housing supply shortage is a key contributor to a housing affordability crisis. Reports estimate that, in order to keep up with housing demand, the United States needs to build an additional 3.8 million housing units. Numerous factors contribute to the housing shortage—from high construction costs and supply chain issues exacerbated [...]

  • Rooted Injustice: The Link Between Environmental Racism and the Prevalence of Trees

    On a hot summer day, many tree-filled neighborhoods enjoy plenty of shade. However, access to shady outdoor spaces is far from equal. In many communities of color and low-income neighborhoods, concrete is everywhere—absorbing and trapping heat, making the sweltering summer dangerous for many. Heat Islands and Under-Resourced Neighborhoods  Due to climate change, cities are experiencing [...]

  • $25 Million NMTC Allocation to Expand Homeownership Opportunities

    Last week, the Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credit (NMTC) awards nationwide. We’re thrilled to announce that our partner, Community Housing Capital (CHC), has been awarded a $25 million NMTC allocation. Since 2020, CHC has employed the NMTC program to support the development of affordable for-sale [...]

  • Rent Vs. Own: What’s the Best Pathway for Low- and Middle-Income Households?

    The housing crisis in the United States far predates the COVID-19 pandemic. Although the past few years have been particularly rocky for housing, most of the existing challenges are residual from the Great Recession of 2007 to 2009. One thread remains constant, however: Homeownership is the cornerstone of building generational wealth and advancing long-term stability. [...]

  • Raising the Standard: Upgrading Housing Quality Across America

    Across the many complexities of housing in the United States, the quality of housing stock emerges as a foundational determinant of public health, community well-being, and economic stability. In the U.S., the ramifications of poor housing quality extend far beyond a cracked foundation or leaky roof. Studies continue to highlight the negative social, emotional, and [...]

  • Make Your NMTCs Work for You: How A Support System Prevents Recapture Risk

    Whether you’re working on your first New Markets Tax Credits (NMTC) application or you’re a seasoned pro at drafting applications, the process of applying for NMTCs is complex. Once a deal has closed, NMTCs require some atypical accounting processes—all specific to the program and its regulations. In some cases, if a borrower’s accountant is not [...]

  • Understanding the New Markets Tax Credits Program: A Closer Look at the Investor & Community Benefits

    In 2000, Congress passed the New Markets Tax Credit (NMTC) bill to incentivize sustained investments in low-income communities, helping to lift those neighborhoods out of poverty. The U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund, which empowers economically distressed communities nationwide, manages the NMTC program. The NMTC program encourages sustained investments over a [...]

  • Smith NMTC Announces Closing of $7M NMTC Allocation to Support Passaic County Habitat for Humanity

    The Smith NMTC Associates team is excited to announce the closing of a $7 million New Markets Tax Credit (NMTC) transaction in support of the Passaic County Habitat for Humanity. The project was supported by investments from U.S. Bancorp Impact Finance and the Community Loan Fund of New Jersey, Inc. About Passaic County Habitat for [...]