January 2009 Table of Contents

Credit Crisis Squeezes Deals

Affordable housing developer Volunteers of America (VOA) had to switch lenders twice before it could sell tax-exempt bonds backed by the loan to Sierra Manor, a Sec. 202 community affordable to lowincome seniors in Reno, Nev. Read more

Mission Rehab Mission Rehab

Thirty months, eight phases, 703 units, 3,000 residents, 79 acres, and $36 million Read more


Minnesota Gov. Tim Pawlenty has named Dan Bartholomay as commissioner of Minnesota Housing, the state housing agency. Read more

Solar Makes Sense

Developers could learn a lot from communities like Franklin Hill in Dorchester, Mass. Local affordable housing developer Trinity Financial and the Boston Housing Authority are planning to install an array of solar panels with a cost of more than $1 million on Franklin Hill's 152-unit second phase, which is under construction. Read more

Where Does the LIHTC Industry Go? Where Does the LIHTC Industry Go?

Less than 24 hours after the election of a president who represents change, more than two dozen affordable housing leaders assembled to hash out ideas for getting through the financial crisis in the low-income housing tax credit (LIHTC) market. Read more

Wheeler Terrace Beats the Odds

Washington, D.C. .—One of this city's oldest affordable housing communities, Wheeler Terrace was built in 1947 for veterans returning from World War II. Read more

Developers Weather the Storm Developers Weather the Storm

Affordable developers have struggled for years to fill vacant lots and repair abandoned buildings in the low-income neighborhoods of aging Northeastern cities. Read more

An Army of Homeless An Army of Homeless

Paul Livingston was just 18 and fresh out of high school in 1979. He and his older brother applied for the same job.  Read more

Virtual Filing Cabinets Virtual Filing Cabinets

While the promise of a truly paperless office is still many years away, affordable housing companies are getting one step closer through document management applications. Read more

Food and Shelter Lines Grow

LOCAL FOOD BANKS and shelters don't need the Labor Department to tell them that jobless claims have reached a seven-year high. They can just look at the growing lines outside their doors. Read more

What Would $1 Trillion Do?

AFTER LEARNING THAT the United States had spent $1 trillion on the Iraq War, author Rob Simpson tried to put the enormous and hard-to-comprehend figure into perspective by looking at what else the money could have done. Read more

Change Is in the Air

CHICAGO— Nov. 4, 2008, was an exciting day to be in the Windy City. Read more

HUD's Green Efforts Reviewed

THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) could do more to encourage green building, according to a new report by the U.S. Government Accountability Office. Read more

Housing Will Be Key Priority for New Administration,Congress

Restoring the housing industry to health will be a key priority of the incoming administration and Congress. Read more

Answering the Call for Vets Housing Answering the Call for Vets Housing

BEDFORD, MASS.—Bedford Veterans Quarters is one of the few permanent housing opportunities for homeless veterans created in greater Boston in more than 10 years. Read more

A Chance to Start Over A Chance to Start Over

DAYTON, OHIO—Home to second chances, this building is where 26 women, including many veterans, are trying to bounce back from homelessness, drug abuse, and mental illness. Read more

Boston Fights Foreclosures

Boston —In February 2008, Mayor Thomas M. Menino, surrounded by city officials and photographers, visited a street of empty houses. Read more

Pop Quiz

Matt Franklin is president of Mid-Peninsula Housing Coalition, one of California's leading nonprofit affordable housing developers. Read more

Business as Usual, Mostly

Fannie Mae is still providing debt financing for affordable housing, despite a capital markets meltdown and its placement in a conservatorship in early September. Read more

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