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CARH Director Pete Potterpin

 Director

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PK Housing & Management
Okemos, MI


Ronald ‘Pete’ Potterpin formed PK Housing & Management Co. in 1981. In 1990 Mr. Potterpin started developing affordable housing both through the acquisition and rehabilitation of existing RD 515 properties and new construction of both RD 515 and State Housing Finance Agency developments. In 2000, Mr. Potterpin formed PK Construction LLC to facilitate the building and rehabilitation of those properties. Mr. Potterpin is President of PK Housing & Management Co. and responsible for all the day to day activities of the development and management arms of the company.

PK Housing & Management manages a varied portfolio of both affordable and conventional multifamily housing comprising approximately 65 developments and about 2,000 units in the States of Michigan and Texas. Mr. Potterpin has done extensive work with USDA Rural Development and the Michigan State Housing Development Authority and maintains a good working relationship with these agencies. Most of the developments have used the Low Income Housing Tax Credit.

Mr. Potterpin has a long relationship with the Boys and Girls Club of Lansing acting as Asset Manager for a portfolio of 600 units that they have owned since 1995.

Mr. Potterpin is currently and has been President of the Michigan Rural Development Council since 1998. He has also been president of the state chapter of the Institute of Real Estate Management in 1990 and 1994 and governing counselor in 1995 and 1996 and remains active in that organization.  

 
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Tax Credit Percentages

For June 2013:
9%: 7.39 4%: 3.17

   

  • Previous Month's Credits

    The IRS publishes monthly credit percentages that apply to low-income housing tax credit buildings placed in service that month.  There are two rates:  the 70% present value credit (PVC) and the 30% present value credit.  The maximum 70% rate is available for low-income new construction and substantial rehabilitation expendiretures that are not federally subsidized.  The maximum 30% rate applies to acquisition expenditures and to federally subsidized low-income new construction or substantial rehabilitation expenditures.

    *Note: The Housing and Economic Recovery Act of 2008 provides for a flat minimum percentage of 9% for the 70% present value housing credit for projects placed in service after July 30, 2008.

 

Tax forms and publications in the PDF format can be viewed, navigated and printed from a workstation using the freely available Acrobat Reader software from Adobe Systems Inc.

Next CARH Meeting

The 2014 Midyear Meeting will be held January 26-28, 2014, at the Four Seasons Hotel in Las Vegas, Nevada.