Housing Law Commons^™

Clarifying Nonprofit Purchase Rights In Affordable Housing, Brandon Weiss

Articles in Law Reviews & Other Academic Journals

Disputes around the country are proliferating as limited partner investors attempt to thwart the ability of nonprofits to exercise statutorily defined rights of first refusal to acquire low-income housing tax credit developments upon the expiration of rent restrictions. Such efforts, increasingly being made by "aggregator" investors, frustrate congressional intent, violate long-held norms and expectations in the industry, are costly for nonprofits to litigate, jeopardize the ongoing affordability of an already scarce federally assisted housing stock, and threaten to displace low-income tenants. This Essay describes the problem, explores the collision of housing policy and tax policy that gives rise to it, …