April 2009 Table of Contents

Top 50 Affordable Housing Developers of 2009

The top 50 developers for affordable housing for 2009. Read more

2009 AHF 50 Owners

The top 50 AHF owners for 2009 Read more

California Delays LIHTC Round

SACRAMENTO, CALIF.—The California Tax Credit Allocation Committee (CTCAC) postponed its first round of allocating low-income housing tax credits so it could put into place the many provisions of the new American Recovery and Reinvestment Act. Read more

Rebates Energize Solar Retrofits Rebates Energize Solar Retrofits

Affordable housing owners who want to retrofit their developments to go solar in California have an additional rebate incentive to help them do so. Read more

Affordable Housing Design in 2020

With an eye toward new technologies and advances in sustainable design, Affordable Housing Finance magazine challenged architects to use their imagination to envision what affordable housing will look like in the year 2020. Read more

Connecting Housing and Health Connecting Housing and Health

OAKLAND, CALIF.—Two critical needs—affordable housing and health care— are being met inside Seven Directions. Read more

POAH Focuses on Policy POAH Focuses on Policy

DENVER—The deteriorating housing market of Florida recently became an important backdrop for Boston-based Preservation of Affordable Housing, Inc. (POAH), on a twofold basis. Read more

Compliance Science Compliance Science

FOSTER CITY, CALIF.—Managing the compliance process for a single affordable housing property often means wading through regulations. Read more

MacArthur Targets Preservation Efforts

SAYING THE COUNTRY had lost sight of the importance of rental homes in a balanced national housing policy, MacArthur Foundation leaders announced that they are investing $32.5 million to fund affordable housing preservation efforts in 12 states, cities, and counties. Read more

Keeping the Faith Keeping the Faith

DENVER—This is how many aff ordable housing units Mercy Housing owns: 14,515. This is how many units Mercy has in some phase of development: 5,400. And this is how many Mercy wants to participate in over the next fi ve years: 65,000. Read more

A Room With a View A Room With a View

SPRINGDALE, UTAH—The new Red Hawk Apartments had to be as special as its dramatic setting. Read more

When Does the Recovery Start?

The massive $787 billion American Recovery and Reinvestment Act (ARRA) included funding and program changes aimed at jump-starting the stalled low-income housing tax credit (LIHTC) market this year. Read more

People: Kenney Moves to IHDA's Top Post People: Kenney Moves to IHDA's Top Post

Mary R. Kenney was named executive director of the Illinois Housing Development Authority (IHDA). Read more

Fannie Closes the Gap

Fannie Mae is offering competitively priced debt for the affordable housing industry as it mulls a return to the taxexempt bond credit-enhancement market. Read more

Ten Fifty B Rising Ten Fifty B Rising

SAN DIEGO—While many affordable housing developers in California are struggling with the state’s freeze on bond funds, at least one development is proceeding as expected. Read more

Housing and Economic Recovery Act: Median Incomes and Rent Growth at LIHTC Properties Housing and Economic Recovery Act: Median Incomes and Rent Growth at LIHTC Properties

The impact of the Housing and Economic Recovery Act of 2008 (HERA), as reflected in the 2009 median family incomes (MFI), has brought a welcome reversal to the problem of no rent growth at Sec. 42 low-income housing tax credit (LIHTC) properties, along with a few other benefits for underwriting rents. Read more

CHFA Tops in Green QAPs

THE CONNECTICUT HOUSING FINANCE AUTHORITY (CHFA) has the greenest low-income housing tax credit (LIHTC) program in the country, according to an analysis by Global Green USA. Read more

LISC Invests $826 Million

THE LOCAL INITIATIVES SUPPORT CORP. (LISC) invested $826 million in equity, loans, and grants in 2008 as part of its Building Sustainable Communities work. Read more

Regional News

ALBANY, N.Y. Offi cials celebrated the opening of Jared Holt Mews Townhouses, which marks the completion of the fi rst phase of a $22 million revitalization effort of the city’s South End. Read more

Look on the Brighter Side

The news continues to be bleak, and signs of the economic downturn on the affordable housing industry are evident in AFFORDABLE HOUSING FINANCE’s exclusive rankings of the Top 50 owners and developers. Read more

HUD Team Takes Shape

WASHINGTON, D.C. Carol Galante is taking her experience as an affordable housing developer to the Department of Housing and Urban Development (HUD). Read more

McCormack Looks Ahead at '09

ST. LOUIS— MCCORMACK BARON SALAZAR, INC., started seven developments with 1,026 affordable housing units in 2008 and hopes to start another eight projects this year. Read more

Obama Outlines Spending Plans Obama Outlines Spending Plans

President Barack Obama has outlined a fiscal 2010 budget that provides more funding for federal housing programs, including $1 billion for the national Affordable Housing Trust Fund. Read more

Staying Power

This year's Top 50 developers started 23,428 affordable housing units in 2008. Each one has some extra sweat and maybe a tear or two on them. Read more

Pop Quiz

Artspace creates and fosters affordable space for artists and arts organizations. That mission includes building some of the most creative affordable housing developments around. Read more

Oregon Designs Needs Analysis Tool

Officials at Oregon Housing and Community Services (OHCS) are using a new analysis of unmet housing needs to help determine where low-income housing tax credits and other limited resources are distributed. Read more

PEP's Most Ambitious Project PEP's Most Ambitious Project

PETALUMA, CALIF.—The 58-unit Casa Grande Senior Apartments is the largest and most innovative development that PEP Housing has built in its 30-year history. It is also the model that the nonprofit organization will use for all future projects. Read more

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