July 2006 Table of Contents

First recovery center breaks ground in Kentucky

Henderson, Ken. A new housing model that could help reduce drug and homeless problems across the country is starting in this small town overlooking the Ohio River. Read more

Developer takes novel approach to seniors housing

Abingdon, Va. — A new $3.6 million seniors development seeks to offer an alternative kind of independent-living community, one in which close-knit residents will care for one another as they grow older. Read more

DCA pushes for small, rural housing

Atlanta Thanks to a revised qualified allocation plan (QAP), more than a third of the low-income housing tax credit applications being evaluated are for small, rural projects. Read more


Columbus, Ohio – The Ohio Housing Finance Agency approved more than $14.8 million to help acquire, rehabilitate, and/or construct 379 units of rental housing and 46 single-family homes for moderate- and low-income families. Read more

Maine gets tough on homeless attacks

Maine Gov. John E. Baldacci has toughened the penalty for those convicted of attacking homeless individuals. Read more

How to use rehabilitation tax credits

The information presented here is intended solely for informational purposes and should not be construed as accounting advice from the author or Reznick Group. Read more

A LIHTC home for foster-care students

Miami Florida developer Matt Greer is excited about his new housing program for youths aging out of foster care, not only because it’s providing valuable affordable housing for people with few alternatives but because he’s convinced it can be replicated i Read more

Averting market-rate conversion: One project’s story

Richmond, Va. When existing federal low-income housing tax credits (LIHTCs) on the Quarter Mill apartment complex in Richmond, Va., were set to expire, the partners in the ownership entity decided to sell to the highest bidder for conversion to market-rat Read more

$4.1 billion in NMTC awards announced

Many names familiar to the affordable housing industry were selected to receive allocations of New Markets Tax Credits (NMTCs) in the program’s fourth round. Read more

FHLBanks streamline AHP rules

The popular Affordable Housing Program (AHP) grant may soon become more flexible for developers to use. Read more

Developers discuss deal killers, other big challenges

Land for new affordable housing development is tough to find. Read more

IRS issues guidance for nonprofits involved in low-income housing

The Internal Revenue Service (IRS) has released guidance that creates a “safe harbor” for exempt organizations that participate in low-income housing tax credit (LIHTC) transactions and specifies the guarantee and control provisions that can b Read more

Same building, different owners: three ways to account for mixed-use projects

In many mixed-use affordable housing projects subsidized with low-income housing tax credits (LIHTCs), the residential and commercial space mix like oil and water: not at all. Read more

Survey: Jackson should be fired

President George W. Bush may still stand behind Alphonso Jackson, but nearly half of the readers polled by this magazine think he should be fired as secretary of the U.S. Department of Housing and Urban Development (HUD). Read more

10 tips to rescue a failing project

In this issue: Theobald’s top 10 tactics to tangible tax credit triumph: 10 ideas to rescue a failing tax credit project before the end of the first year of the credit period. Read more

Edson Awards honor tax credit projects

Washington, D.C. – Some of the best affordable housing developers in the country came to Capitol Hill June 7 to receive their prizes at the 12th annual Charles L. Edson Tax Credit Excellence Awards. Read more

Preparing for a better future

I first walked into the Department of Housing and Urban Development (HUD) building as a young reporter for a Washington, D.C., Read more

Fannie settles with OFHEO

Fannie Mae lenders are hoping to shift the focus toward improving affordable housing financing programs now that Fannie Mae finally has settled a two-year regulatory battle with the Office of Federal Housing Enterprise Oversight (OFHEO). Read more

Food company assists in building workforce housing

Marshall, Minn. – As affordable housing grew tougher to find in this rural Minnesota community, one of the first to notice was the Schwan Food Co., Inc. Read more

Fight rising energy costs

New York City – The cost of energy keeps rising — but fortunately, energy experts like Marc Zuluaga keep finding new ways to save. Read more

Bipartisan voucher reform bill introduced in House

The drive to reform the Sec. 8 voucher program got a boost with the introduction of a bipartisan bill (H.R. 5443) backed by key House of Representatives legislators. Read more

Will HUD find sponsor for CDBG plan?

Secretary Alphonso Jackson “fought very hard” to retain the Community Development Block Grant (CDBG) program at the Department of Housing and Urban Development (HUD) with a “promise to reform” it, HUD Assistant Secretary Pamela Patenaude said on a press c Read more

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