Stimulus One Year Later
It’s been almost a year since President Obama signed the $787 billion American Recovery and Reinvestment Act, which included the Tax Credit Assistance Program (TCAP) and the tax credit exchange to help jump-start the stalled low-income housing tax credit market and move shovel-ready projects forward.
We’re hearing that more TCAP and exchange deals are starting to happen around the nation. I even recently heard that Florida Housing Finance Corp. was in the process of closing on about 40 deals in the next couple of months, helping to create some much-needed affordable housing in that state that might not have happened without the stimulus funding.
We’ve covered in print and online the various developments and regulations related to the stimulus funds over the past year but decided to take a closer look at some of the funds at work one year later for our March issue of Affordable Housing Finance.
You’ll get a bird’s-eye view of two of the first deals in the nation to close on their stimulus funding—Phipps Houses Group’s Hobbs Court and The Ciena in Harlem, N.Y., and Community Housing Concepts, Inc.’s Denver Gardens preservation deal in Denver. We’ll feature some of the innovative things the Michigan State Housing Development Authority is doing with its funds and talk with nonprofit developer The Community Builders about how it is planning to use its $78 million in competitive Neighborhood Stabilization Program grants. Plus, Jonette Hahn of Reznick Group will examine some of the pitfalls that developers face when using these stimulus funds.
And in the issue’s Top 25 Affordable Housing Lenders feature, you’ll also get a firsthand look at some of the challenges lenders are seeing when it comes to financing deals with TCAP and exchange funds.
This is certainly a topic that we’ll continue to cover throughout the year. We want to hear from you about your new projects that are able to move forward because of the stimulus and the challenges that you’re still facing. E-mail me at cserlin@hanleywood.com to tell me your story and what you think still needs to be done to boost the affordable housing industry.
|
| Advertisement |
 Assessment. Monitoring. Conformance. Whether you are a LIHTC investor, construction lender, or syndicator, GTG's expertise in Affordable Housing projects will help you understand and control your engineering risk. Click here to learn more.
|
Texas state Rep. Terri Hodge has pleaded guilty to lying on her tax returns in connection with the Dallas corruption case, a move that ends her longtime political career.
FULL ARTICLE
The Affordable Housing Investors Council has named Karen J. Muchin as the association’s first executive director.
FULL ARTICLE
While saying difficult decisions had to be made, Housing Secretary Shaun Donovan provided a first look into the 2011 budget proposal, including a Transforming Rental Assistance initiative and a $150 million competition aimed at creating jobs in the areas with high unemployment rates.
FULL
ARTICLE
For many affordable housing lenders, 2009 will be remembered as a year not worth remembering.
FULL
ARTICLE
Affordable housing owners looking to purchase property management software face many different and difficult choices. For smaller companies, evaluating the software market for the first time can be a little overwhelming. There are a variety of providers that all feature similar features, and it’s difficult to know where to start.
FULL
ARTICLE
The Community Preservation Corp., a nonprofit affordable housing lender for the New York City area, is finally getting rid of its spreadsheets. The company has partnered with IBM on a new construction loan processing software that should make the process more efficient—and help borrowers get their money more quickly.
FULL
ARTICLE
Unemployment, a weak economy, and growing poverty are huge worries for affordable housing advocates and those seeking to end homelessness.
FULL ARTICLE
Several Department of Housing and Urban Development programs have received funding increases in fiscal 2010, including Sec. 8, public housing, homeless assistance, and community development.
FULL
ARTICLE
Now available: Affordable Housing Finance's newest flipbook edition! See the January/February 2010 issue as it appeared in print; search the entire issue by keyword; link specific pages to Facebook, Digg, and Delicious; and connect with advertisers. You can even save the issue hard drive for when you're not online. It's a 21st century take on an old-school experience.
|
|
Calling All Affordable Housing Developers and Owners
If you develop or own affordable housing, don't miss the chance to tell the nation about your accomplishments! Complete this survey for an opportunity to be included in the April/May issue of Affordable Housing Finance magazine, which will have a special feature on the Top 50 affordable housing developers and owners. Survey must be completed by Feb. 17, 2010.
Click here to download the survey
Call for Entries
Affordable Housing Finance's sixth annual Readers' Choice Awards nomination process is now open. Eligible submissions include LIHTC projects as well as other affordable housing developments completed in 2009 or that will be completed in 2010. Download the nomination form and FAQs.
HOUSING FINANCE ONLINE SURVEY
It’s been a year since President Obama signed the massive $787 billion American Recovery and Reinvestment Act, which included funding and program changes aimed at jump-starting the stalled low-income housing tax credit equity market. Affordable Housing Finance wants to know your thoughts on how effective the stimulus funds have been as well as if you think the federal government needs to do more for the affordable housing industry in 2010.
Click Here to take survey
Previous survey results: Construction Financing
HOUSING
FINANCE
SOCIAL NETWORK
AHF Blog
Read about deals, subsidies,
gossip, taxes, and sneaky fine print in the world of rental real estate, from
the editors and writers of AFFORDABLE HOUSING FINANCE here.
AHF Launches
LinkedIn Group
Affordable Housing Finance has launched a LinkedIn group, giving readers another venue to network and dialogue with one another about the industry's issues.
AHF's Facebook Group
Affordable Housing Finance has launched a Facebook
group, allowing readers the opportunity to network and dialogue with one another about the industry's issues, while following the latest developments from the magazine.
Follow AHF on Twitter
Affordable Housing Finance readers can also follow breaking news and industry updates on twitter.com/AHFMag.
Contact
Subscribe
Subscribe to AFFORDABLE HOUSING FINANCE Magazine.
Advertise
Advertise in AFFORDABLE HOUSING FINANCE Update.
|
