The University of New Orleans Department of Planning and Urban Studies (UNO--‐PLUS), on behalf of their client, the Crescent City Community Land Trust, Inc. (CCCLT), has created this report to determine the viability of bringing expiring LIHTC properties into a community land trust (CLT). While CLTs are a proven model for maintaining the long-term affordability of housing units, their role in preserving expiring LIHTC properties is untested. In this report we: 1) examine the potential role of CLTs in preserving LIHTC properties; 2) evaluate the 20 expiring LIHTC projects within Orleans Parish to identify those best suited for conversion to tenant-ownership under a CLT model; 3) develop a recapitalization strategy for the selected projects; and 4) recommend modifications to the Louisiana Qualified Allocation Plan (QAP) that extend the affordability of LIHTC properties and incentivize conversion to tenant-ownership.
Department of Planning and Urban Studies, University of New Orleans, "Preserving Affordability in Expiring LIHTC Projects: The CLT Approach" (2012). Planning and Urban Studies Reports and Presentations. Paper 27.