The Low Income Housing Tax Credit (LIHTC) program was established as part of the Tax Reform Act of 1986 and is commonly referred to as Section 42, the applicable section of the Internal Revenue Code (IRC). The LIHTC program provides tax incentives to encourage individual and corporate investors to invest in the development, acquisition and rehabilitation of affordable rental housing.
Shortly after the Tax Reform Act, Gill Group began assisting clients with services needed to complete the applications required by the program. We have provided Appraisals, Market Studies, Rent Comparability Studies, Capital Needs Assessments, Phase I and II Environmental Site Assessments and Title Services to help our clients close billions of dollars of LIHTC transactions.
Gill Group is approved by all states and directly contracted by some to provide our services. Our work has been used by some states to model their QAP and review processes to fit our reports. Gill Group provides high quality and accurate work, and we are recognized nationally for our expertise in the LIHTC program.