NAHRO Releases Regulatory and Legislative Year in Review - 2016

January 27, 2017               By: Georgi Banna

In 2016, the Department of Housing and Urban Development (HUD) was very busy setting forth new rules and regulations and providing updated notices and guidances on many of the HUD administered affordable housing programs. The year has also been marked by many legislative victories and a few challenges.

NAHRO has drafted and compiled this Regulatory and Legislative Year in Review – 2016 to provide a primer of the topics on the forefront of the affordable housing industry. It can also provide you, your public housing agencies (PHAs) and local redevelopment agencies (LRAs) and your stakeholders current information on many of the programs used and administered by HUD and the affordable housing community....Read More

How HFAs are Responding to LIHTC Market Changes

January 24, 2017              By: Donna Kimura

Several agencies propose using 2017 credits to help fill gaps in 2016 deals.

A number of state housing finance agencies (HFAs) are making moves to help developers through dramatic changes in the low-income housing tax credit (LIHTC) market.

The action comes as some affordable housing deals face unexpected funding gaps this year as investors and syndicators have grown increasingly cautious following the recent election.....Read More

Statement from Diane Yentel, President and CEO of NLIHC, regarding a proposal from Democratic Senators to invest $1 trillion in infrastructure

January 24, 2017    By: National Low Income Housing Coalition

Washington, D.C. - The National Low Income Housing Coalition (NLIHC) commends Senate Democrats for recognizing the importance of affordable housing investments in a comprehensive infrastructure package.

An investment in affordable housing infrastructure for the lowest income people would provide our nation with the resources it needs to help the economy, local communities, and families thrive. These investments would not only make significant headway towards ending homelessness and housing poverty, they would bolster productivity and economic growth. By connecting people to communities with well-paying jobs, good schools, and transit, affordable housing can spur local job creation and increase family incomes. Investments in affordable and accessible housing would boost local economies and contribute to neighborhood and community development....Read More

LIHTC Allocating Agencies Respond to Equity Market Disruption

January 23, 2017        By: Mark Shelburne

Last fall’s election outcome greatly increased the likelihood of changes in the Internal Revenue Code, including a reduction in corporate tax rates. Because of this possibility, corporations are analyzing potential consequences for their investments in low-income housing tax credit (LIHTC) properties. As a result the LIHTC equity market is experiencing significant disruption. However, it’s important to note there is no shortage of demand for LIHTCs. Rather, the current questions involve pricing, with many closings delayed, and those deals that are going forward being closed with notably less equity.

Allocators’ Role

Normally LIHTC allocating agencies’ involvement in the developer-investor relationship is limited. However, when challenges arise agencies can play a crucial part. Novogradac & Company is surveying allocators about how they are addressing the disruption; the initial responses are below. Although some may have not yet decided on a course of action, all are aware of the issues and evaluating their options....Read More

HUD Announces Awards to Test Aging-in-Place Approaches

January 18, 2017   By:  Donna Kimura

The agency will help connect the elderly with supportive services.

The Department of Housing and Urban Development (HUD) has awarded $15 million to select owners of HUD-assisted senior housing to help their residents delay or avoid moving into a nursing home.

HUD will cover costs related to hiring a full-time enhanced service coordinator and a part-time wellness nurse to connect the elderly with the supportive services they need to maintain independent living and age in place......Read More

2017 Predictions: What's Ahead for the Affordable Housing Industry?

January 03, 2017       By: Christine Serlin

AHF Editorial Advisory Board members share their thoughts on policy and housing resources for the coming year.

As we head into the new year, Affordable Housing Finance asked its Editorial Advisory Board members to weigh in with their predictions for the affordable housing industry for 2017. Overwhelmingly, the responses focus on the potential for tax reform and the unsettled low-income housing tax credit (LIHTC) market post-election.

“The top affordable housing story for 2017 is not yet written, and everyone reading this will play a part in what occurs, especially what tax reform and the federal budget.....Read More

Post-Election Impacts on 4% LIHTC and Tax-Exempt Debt Financing

January 13, 2017     By: Wade Norris

Attorney Wade Norris provides an in-depth look at the big changes in the bond market.

By Wade Norris

It has now become clear that the surprising outcome in the recent presidential election is having significant adverse impacts on the role of tax-exempt private-activity bonds and 4% low-income housing tax credits (LIHTCs) to finance affordable housing projects. While it is difficult to assess the ultimate scope of these impacts, patterns have begun to emerge on both the equity and debt side of these financings.....Read More

Affordable Housing: Top Trends to Watch in 2017

January 10, 2017 by: John R. Williams

John Williams of Avanath Capital Management explores the "newest darling of the multifamily investment market."

Affordable housing could be the newest darling of the multifamily investment market in 2017.

There’s no question that there is a tremendous need for this product type in the United States. According to a 2016 report by the Joint Center for Housing Studies of Harvard University, more than a third of U.S. households pay more than 30 percent of their income in rent. Of this third, 16.5 percent of households allocate more than 50 percent of their income toward rent.....Read More

HUD ANNOUNCES $10 MILLION IN "SWEAT EQUITY" GRANTS

Info from Hud.Gov

By: Hud.Gov | Jan 18, 2017

WASHINGTON - U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro today awarded $10 million in “sweat equity” grants to four non-profit self-help housing organizations through HUD’s Self-Help Homeownership Opportunity Program (SHOP). This funding will create at least 539 affordable homes and significantly lower their purchase price for low-income buyers, who will contribute their own labor toward the construction or rehabilitation of these units.......

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