Q: Tell us about CohnReznick.
A: As one of the leading accounting, tax, and advisory firms in the country, CohnReznick also has one of the largest and most technically savvy affordable housing practices in our industry. More than 750 experienced professionals in 26 offices provide our clients with value-added services at each stage in the life cycle of a project—from pre-application to Year 15 to the post-tax credit period. In doing this, we draw upon the knowledge of dedicated practice groups in tax credit advisory, real estate development, construction, renewable energy, valuations, and transactions to provide clients with an integrated, one stop resource that helps our clients succeed. Our Office of Governmental Affairs provides a direct connection to the federal and state legislative initiative impacting project development, grant applications, and transactional activity.
Q: Share a key program or initiative that CohnReznick championed recently.
A: Many of the Firm’s contributions to the Affordable Housing industry revolve around preserving the low income housing tax credit (LIHTC). Last fall, CohnReznick brought together state leaders in affordable housing to form the first national board of independent state associations, Council of Independent State Housing Associations (CISHA). Since LIHTC was created, many states have formed statewide associations which are strong advocates for housing policy and provide feedback to their respective state governing bodies. By coming together, CISHA can amplify voices in Washington, DC area to strengthen support and funding for the tax credit program and link associations together to share operational commonalities and best practices.
Also, as part of a series of periodic reports issued by CohnReznick that address the economic performance of properties financed with federal low-income housing tax credits and of the investments that financed their development, CohnReznick released its fourth report “The Low-Income Housing Tax Credit Program at Year 30: Recent Investment Performance (2013-2014)” that provides a detailed analysis of the performance of housing credit properties and the latest performance trends observed across the national housing tax credit portfolio consisting of 20,000 properties. The report found that the LIHTC program, which reaches its 30th anniversary in 2016, has consistently delivered strong results for tax credit housing investors.
Q: How has being a HAND member supported your overall efforts?
Collaboration amongst organizations can simplify the path toward achieving our goals and can also lead to unexpected opportunities. CohnReznick’s membership in HAND helps us stay in front of organizations with similar goals and support the industry upon which our Firm was built. As a service provider of assurance, tax and advisory services to the affordable housing industry, our long-standing relationship with HAND enables us to stay current with the issues that affect HAND members as well as the clients we serve.
A 25th Anniversary and 2016 Annual Meeting & Housing Expo sponsor, HAND is pleased to spotlight the CohnReznick as a member who certainly contributes to our organization’s COLLABORATION, INNOVATION and TRANSFORMATION within the metropolitan area!