April 2006 Table of Contents

HUD gets tough on HOME ’soft costs’

An intriguing guidance document on HOME grant accounting emerged from the Department of Housing and Urban Development (HUD) in February. Read more

HUD properties get lift from local authorities

Local officials across the country are devising ways to stem the loss of affordable housing units, particularly aging properties subsidized by the Department of Housing and Urban Development (HUD). Read more

Colonias remake themselves

El Cenizo, Texas – The people who live in this small subdivision next to the Rio Grande are quickly turning half-built, often-improvised shacks into finished houses. Read more


Small loans were a popular product type for Fannie Mae borrowers in 2005, and the government-sponsored enterprise (GSE) predicted it would continue to be a growth area in 2006. Read more


Operating an apartment community while also incorporating tax credit rules and regulations can be a challenging task. Read more


Affordable housing developers and owners are reaping the benefit for their properties and residents from investing in their broadband infrastructures. Read more


On the Road to Success: Illinois’ Comprehensive Housing Plan 2006 identifies current spending earmarked for affordable housing at six different state agencies. Read more

State and local equity funds share 2006 goals

Several state and local equity funds are expanding their business models to meet increased competition and demands of the low-income housing tax credit (LIHTC) market in 2006. Read more

Texas uprising: Houston hospital remade into housingHurricane evacuees get a new start

Houston -- After sitting empty for 20 long years, an old hospital with a rich past has been redeveloped into affordable housing.  Read more

City Hall Lofts help revitalize downtown

Kansas City, Kan. Although loft conversions have been done for more than a decade in bustling Kansas City, Mo., its sister city in Kansas has seen its downtown lag for lack of housing.  Read more


While thousands of families left homeless by Hurricane Katrina struggled to get the trailer homes promised to them by the Federal Emergency Management Agency (FEMA) or fought to stay in their hotel rooms, a few architects were busy creating a new kind of Read more

Hotel revived to serve seniors

Shawnee, Okla. -- A $9.2 million historic preservation project has transformed a dilapidated landmark into 61 elegant, affordable apartments for seniors and a renewed source of community pride. Read more

Nonprofit pioneers SRO housing in Houston

Houston -- Unlike other big cities, Houston has never had much of a history when it comes to single-room occupancy (SRO) developments. Read more

Boston Capital’s Manning discusses year’s key issues

Boston Jack Manning, one of the deans of the low-income housing tax credit (LIHTC) industry, has several key issues on his radar screen this year. Read more

Confronting minimum set-asides and applicable fractions

In this issue: Confronting one of the most confusing aspects of the tax credit program – the difference between the minimum set-aside and the applicable fraction. Read more

Developer preserves entire 1,330-unit portfolio

Los Angeles -- Alpha Development is completing a four-year effort to preserve all of its affordable housing – 1,330 apartments spread across 69 properties. The portfolio required intricate layers of financing that added up to more than $90 million. Read more

Poor Alphonso Jackson

You have to feel bad for Alphonso Jackson, the man supposedly in charge of U.S. housing and urban development programs. Read more

HUD budget includes ups, downs for housing

The fiscal 2007 Department of Housing and Urban Development (HUD) budget sent to Congress by the Bush administration includes some pluses and minuses for affordable housing, but in a time of big deficits and competing priorities, it’s probably as good as Read more

Freddie keeps conduits in crosshairs

Freddie Mac executives are looking to maintain their momentum in 2006 after turning in a record year for financing multifamily housing in 2005. Read more

Musicians’ village planned in New Orleans

New Orleans was one of the most musical cities in the world until Hurricane Katrina devastated the community and dispersed its residents across the country. Read more

Apartment groups blast FEMA

Calling it a “heartbreaking” waste of money, apartment associations blasted the Federal Emergency Management Agency (FEMA) in February for spending almost $1 billion on 26,000 mobile homes that sat unused. Read more

Eminent domain helps affordable housing, for now

The banner shouts its message in giant hand-painted letters: Read more

Neighborhood group fights blight

Oklahoma City -- Tired of the vacant and dilapidated houses in their neighborhood, the members of the Capitol View Neighborhood Association decided to take matters into their own hands. Read more

TDHCA leadership changes: Carrington leaves for newpost

Austin, Texas – Edwina Carrington, who has led the Texas Department of Housing and Community Affairs (TDHCA) for the last four years, said it’s a logical time for her to move on. Read more

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