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March 6, 2024

'This Is A Big Deal': LIHTC Could See Most Significant Reform In Decades

As America’s affordable housing crisis digs in, rooting deeper and reaching more broadly into the economy, the country’s most productive source of funding for affordable housing faces its most significant overhaul in its 38-year history.

The Low-Income Housing Tax Credit has helped facilitate the creation of millions of affordable homes since its creation in 1986, and changes to the credit built into the $78B Tax Relief for American Families and Workers Act could significantly broaden its scope and accessibility.

'This Is A Big Deal': LIHTC Could See Most Significant Reform In Decades

Estimates project that these changes could facilitate the creation of about 200,000 new affordable units nationally in the next few years."200,000 units means 200,000 families that will be able to live in quality affordable housing,” NRP Group Senior Vice President of Strategic Partnerships and Government…

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New York Community Bancorp Lands $1B In Equity, Names New CEO

New York Community Bancorp has reached a deal to raise more than $1B in equity and has named former Comptroller of the Currency Joseph Otting as its new CEO.

New York Community Bancorp Lands $1B In Equity, Names New CEO

Shares in NYCB plummeted more than 40% on Wednesday before trading was halted following reports that it was seeking a cash infusion. That infusion will come from a group of investment firms, led by Liberty Strategic Capital, which was founded by former Treasury Secretary Steven Mnuchin.Liberty would provide $400M of equity in the $1.05B…

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Losses Up Despite IWG Doubling Room Growth And Hitting Record Sales

Losses Up Despite IWG Doubling Room Growth And Hitting Record Sales  

Hybrid work specialist IWG has reported a slightly larger pretax loss for 2023 despite its highest-ever revenues and restarting dividend payouts. The flexible office provider's pretax losses from continuing operations widened to £189M for the year, up from a deficit of £105M the previous year, according to its  preliminary

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Gannett, USA Today Moving Headquarters Out Of Virginia

Gannett, USA Today Moving Headquarters Out Of Virginia  

Gannett, the newspaper giant that owns USA Today and a host of local publications, is moving its headquarters from its longtime home of McLean, Virginia, to New York City. 

The company is vacating its 176K SF at Valo Park, where it has been located since 2001, and putting it up for sublease, Gannett revealed in its  fourth-quarter filing with the  Securities and Exchange Commission.  “The Company has decided to relocate its corporate headquarters to its executive…

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