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Private Bond Activity Appraisals
Private bond activity appraisals are prepared for apartment complexes in the Low Income Tax Housing Tax Credit program which are obtaining private bond financing. The owners of these apartment projects receive a lower level of tax credits (versus traditional Low Income Housing Tax Credit apartment complexes). However, they receive lower cost financing (since the bonds are not subject to federal income tax).
Private bond activity apartment complexes are approved subject to complying with a series of inflexible rules and are contingent on tax credits being available. Identifying sites for which private bond activity apartment complexes are financially feasible is difficult.
Private bond activity complexes are subject to approval by both the state housing agency and bond issuer.
Appraisals for private bond activity apartment complexes vary in several regards from appraisal for conventional apartments. The value is subject to a land use restriction agreement (LURA). Further, there are typically several definitions of market value (as completed, as stabilized and as though LURA does not apply).
O’Connor & Associates is the largest independent appraisal firm in the southwestern United States and has over 40 full-time staff members engaged full-time in valuation and market study assignments. Their expertise includes private bond activity appraisals, feasibility studies, valuing real estate, business personal property, business enterprise valuation, purchase price allocation for business, valuation for property tax assignments, partial interest valuation, estate tax valuation, expert witness testimony and valuation for condemnation. They have performed hundreds of feasibility studies.
To obtain a quote or further information for a Private Bond Activity Appraisals, contact Joe Provenzano or Carl Thornton at 713-375-4300, 1-800-856-7325 x 4300, or fill out our online form.
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