Table of Contents

March 2010 - FEATURES

COVER FEATURE >> Stimulus One Year Later

The Community Builders is using $78 million in Neighborhood Stabilization Program funds to develop and rehabilitate multifamily properties in struggling neighborhoods. Learn how other developers are using stimulus programs a year after they were established, plus some potential pitfalls to avoid. (Cover photo by Matt Teuten)

• The Pathbreaker
  The Community Builders, Inc., is taking a unique approach to reviving neighborhoods hard hit by foreclosures.
• TCAP Pushes Denver Project Forward
  Community Housing Concepts, Inc., has purchased and preserved the affordability of a 100-unit seniors housing development after working on the deal for years.
• Harlem Renaissance
  The Phipps Houses Group is building 259 new affordable apartments and renovating another building with 81 units in Harlem, with the help of the Tax Credit Assistance Program.
• Beware of TCAP, Exchange Pitfalls
  The Tax Credit Assistance Program and credit exchange, authorized by the American Recovery and Reinvestment Act, saved many tax credit transactions and infused life support to the low-income housing tax credit industry at its time of most dire need.

FEATURE >> AHF's Top Lenders

• Praying for Cranes
  Most lenders are happy to see 2009 in the rearview mirror. The continued erosion of the tax credit market cut deeply into debt origination volumes, and many lenders posted their worst numbers in years. Yet some smaller, nimble organizations grew their business last year by focusing on refi s. AFFORDABLE HOUSING FINANCE’s exclusive listing of the industry’s top 25 lenders fi nds Bank of America at the top in a rapidly changing competitive landscape.

Also in this Issue

• New Directions
• Donovan: HUD’s 2011 Budget Reasserts Commitment to Rental Housing
• Grapevine
• Cautious Optimism Continues
• The Buzz
• Children in Subsidized Housing Less Likely to Be Hungry, Underweight
• Affordable Housing Numbers Decline
• Soundtrack Benefits Gulf Rebuilding
• People
• Pop Quiz with Linda Mandolini, executive director of Eden Housing, Inc. *Web Extra
• Housing Policy
• HUD Fiscal ’11 Budget Unveiled *Web Extra
• Finance
• LIHTC Syndicators Hope for Recovery *Web Extra
• Asset & Property Management
• Five Tips for Affordable Owners on How to Choose Property Management Software
• Regional Report: Southeast
• Reaching the Summit
• Stimulus Saves Farmworker Deal
• Green Scene
• Solar Installations Energize Residents