Welcome to the Sequester of 2013. Too bad you don't have the LIHTC tax credit.

Welcome to the Fiscal Cliff of 2013.

If you are real smart,  maybe even a "neighborhood leader" you can avoid a "whole lotta taxes" if you are fortunate enough to be able to invest in Bridge Housing LIHTC credit.

"That's right!  I can promise you risk-free BIG RETURNS when you invest in Bridge Housing LIHTC!

"

"The way it works is I build high quality "green housing" with my "non profit" corporation and I sell you my "tax credits" for a huge discount. Since you are paying taxes anyhow, my tax credit will give you a RISK FREE return on your money!"

"I've got the politicians throwing money at me to improve empty lots all over Marin. At Marinwood Village, my people have nearly have the project in the bag. Marin County Supervisors have given me special studies, staff time, waived my development fees,  minimized my taxes (which I will soon apply to for full rebates). "

" Local taxpayers will pay for all of my typical developer's costs and pay nearly all the increased  to improve traffic, parking, police, fire, school and most impact fees. As you know this can add up to millions for the typical private real estate developer.  Heck,  I am getting them to rewrite CEQA and design review laws too.  Instead of messy public hearings,  my contacts in the Community Development Department have their "rubber stamp" ready to approve my projects."

"Don't worry about public opinion.  We will snow the public.  We will make them feel guilty and racist if they don't buy our plan.  We will tell them that more high density housing, will be greener and won't cost them a thing.  Suckers!"

"So you just write me a check here for let's say $28,000,000 dollars and I will give you $40,000,000 in tax credits to cover your 2013 tax bill.  You just made $12,000,000 on your investment!"  You can even tell your buddies and the general public, you are a socially responsible concern!"

"SWEET!"

"What? You don't have a $40,000,000 tax liability?  I guess you are not the "player" I thought you were.  You need to be a big time bank,  insurance company,  pension fund to play.  Too bad.


 "I still have other favors coming your way if you can help me.  We still need people as  neighborhood leaders. We have oodles of goodies, just for you"

Paying taxes in 2013 is for middle class suckers.

[For more information on the LIHTC see Understanding the LIHTC]