Affordable Housing Finance comes full circle in our last regular issue of the year, celebrating the past, present, and future of the industry.

Starting with our cover story, we are honoring our 2012 Housing Hall of Fame inductees and sharing the lasting contributions that all four of these trailblazers—Michael Bodaken, president of the National Housing Trust; Patrick Clancy, former president and CEO of The Community Builders; Michael Levitt, CEO of The Michaels Organization; and Sen. Olympia Snowe—have given to the affordable housing industry throughout the years. You can read more about their accomplishments.

Next are our 2012 Young Leaders, who were nominated by their colleagues and selected by the editors of AHF. These five rising stars—Michael Gilliard, Habitat for Humanity New York City; Ginger Hitzke, Hitzke Development Corp.; Mickey Northcutt, North Shore Community Development Coalition; Terce Sandifer, Union Bank; and Natalia Williams, Bayside Communities—all showed tenacity and dedication by overcoming challenges and taking risks during the financial downturn. See their stories starting on page 38.

Finally, we’re recognizing our Readers’ Choice winners. Out of 34 finalists featured in the July/August issue, Emerald Springs in Detroit, developed by Unified Property Group and the Detroit Housing Commission, was selected by the readers of the magazine and e-newsletter as the top development of 2011 and 2012. It also is the winner of the family category. You can read more about this development that is signifying a fresh start for the Motor City as well as view the other category winners.

Looking forward

In this issue, we also take a look at what’s ahead for financing in the coming year in our annual Capital Markets Outlook. We share expert perspectives on how the stars are aligning for the capital markets and what needs to happen to ensure a healthy low-income housing tax credit (LIHTC) equity market.

And as we head into the new year, with the results of the election decided and the continued talk of coming tax reform, educating legislators and advocating for the LIHTC program will continue to be necessary for the industry as a whole. In early 2011, AHF published a special report called “Housing for All Americans” to educate the new members of Congress. We’re following up on the success of that report with a special issue being published in December.

To add to your arsenal of materials and to aid in your advocacy efforts, the “2012 LIHTC Yearbook” will tout the many strengths of the tax credit program and showcase recent developments that exemplify the diversity of the housing created and the people served by the program. We hope you will use this resource when talking with legislators and their staffs in your congressional districts and on the Hill.

A digital edition also will be available at