Talk of Federal Tax Cuts Chills Affordable Housing Market

April 25, 2017                      By: Elaine S. Povich, STATELINE

BOSTON — The planned A.O. Flats housing development in this city’s Jamaica Plain neighborhood was billed as an oasis for low- and middle-income families, a place where they could get affordable housing in an increasingly affluent area.

Bart Mitchell, who coordinates affordable housing projects in Boston, gestures to an empty lot where a new project is to be built.  Financing for the project was thrown into disarray by the prospect of lower federal corporate tax rates.

Financing was nearly in place and construction was set to begin until President Trump and Congress started talking right after the election about delivering the biggest overhaul of the federal tax code in more than 30 years. Those plans include simplifying tax law as well as cutting taxes, especially for the better-off and for corporations..........Read More