AFFORDABLE HOUSING

Affordable Housing and Real Estate Development

As a leading audit, tax and regulatory authority in the affordable housing industry Daniel Dennis and Company LLP has serve hundreds of clients in this area for over 30 years. Our firm has grown with the needs of the industry throughout Massachusetts.

Our clients include not-for-profit and for profit real estate developers, low income housing tax credit (LIHTC) limited partnerships and limited liability companies, tax exempt general partners, HUD and MHFA properties, property management companies and other industry participants. Our firm has a long history of providing the technical knowledge and experience that enable our clients to meet the challenges of this highly regulated industry.

Residential/Commercial Real Estate Entities

Since the inception of our firm, we have worked with residential and commercial real estate entities developed utilizing LIHTC, bond financing, HUD insured mortgages and more. We understand the unique reporting and compliance issues that accompany these entities and can help advise you from the development stages through the annual auditing and reporting requirements of your project. Our expertise includes performing initial cost certifications, bond financing agreed upon procedures, annual reporting requirements and preparation of related tax returns

Community Development Corporations

Our experience and expertise with community development corporations allows us to guide organizations through the beginning phases of developing affordable housing including but not limited to entity structure, financing guidance, tax implications and potential accounting matters effecting the community development corporation itself. The accounting and reporting requirements for these organizations can be complex and our experience allows us to guide our clients through the annual auditing and reporting requirements in an ever changing enviornment.

Our services include:

  • Audits, reviews and compilations
  • Consolidation issues for real estate developers
  • Cost certifications
  • Equity and financing advisory
  • General partner and limited partner tax return preparation and guidance
  • LIHTC eligible basis issues
  • Tax credit calculations
  • Agreed upon procedures engagements for bond financing (50% test, 95/5 test)
  • HUD compliance and reporting (REAC)
  • Tax credit projection analysis
  • Year 15 buy out analysis