AFFORDABLE HOUSING FINANCE: Your trusted online source for news, resources, and financing ideas for the affordable housing and multifamily housing industries.

Christine Serlin, Editor
cserlin@hanleywood.com

Green Housing Benefits Not Just About the Environment

Over the past several weeks, I have been working on the June issues of Affordable Housing Finance and Big Builder magazines, which both have cover stories focusing on green building.

It’s so interesting to see the motivations behind going green for both the single-family and multifamily sectors. For single-family, it’s more about creating a product that the customers want to purchase, differentiating from the competition, meeting local and state energy standards, and aiding the environment. On the low-income multifamily side, it’s more about creating energy savings for the owners’ bottom line as well as creating savings for the residents by creating healthier, energy-efficient housing that’s located in a transit-oriented or walkable location.

The Affordable Housing Finance cover story on New York-based Jonathan Rose Cos. exemplifies these points as do many other projects around the nation.

“If one can significantly cut utility costs, that improves their ability to pay for education, healthier food, and health care,” says President Jonathan F.P. Rose.

The affordable housing industry works tirelessly to create housing for those Americans who cannot afford it. But I want to commend the owners and developers out there who are making those decisions to create energy-efficient and sustainable housing. By taking it one step further, they’re making a difference in those residents’ lives by providing opportunities for them to become more sustainable.

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Don’t forget, the deadline for Young Leaders nominations is quickly approaching. Affordable Housing Finance is looking for people from all disciplines, whether its development, finance, law, accounting, or government program administration who are younger than 40. They don’t have to be workaholics, but they need to be dedicated and hard-working people who have demonstrated that they are committed to the mission of affordable housing and community development. Criteria for nominations can be found at www.housingfinance.com, and nominations can be sent to cserlin@hanleywood.com by Wednesday, June 2.

The Department of Housing and Urban Development submitted the Preservation, Enhancement, and Transformation of Rental Assistance Act of 2010 to Congress on May 11. PETRA proposes substantial modifications to the way in which HUD provides rental assistance in various HUD programs in an attempt to unify and simplify such programs.
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The Department of Housing and Urban Development has posted advance guidance for its new Choice Neighborhoods initiative.
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A federal judge reinstated the Chicago Housing Authority’s power to manage the development of public housing. The move ends more than two decades of court-ordered receivership for the authority.
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Red Capital Group has come back to its roots as an entrepreneurial firm after being acquired by an investment group led by ORIX USA Corp. and Stonehenge Partners.
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The Ohio Housing Finance Agency recently approved $17.2 million in tax credit exchange funds to help develop more than 140 units of affordable housing.
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For more than 20 years, the low-income housing tax credit has been the most effective tool used to attract capital for the creation and preservation of affordable rental housing. In addition to producing much-needed rental housing, the housing credit has also created significant numbers of jobs. According to a 2007 study by the National Association of Home Builders, a typical 100-unit multifamily development generates 151 jobs during construction and an additional 38 permanent jobs after construction is complete.
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Call for 2010 Young Leader Nominations

Think about the young people you have met in your work and help us identify those special individuals who you think can build organizations, lead programs, usher in new ways of doing things, and solve common problems in the affordable housing industry. Affordable Housing Finance is looking for people from all disciplines, whether its development, finance, law, accounting, or government program administration who are younger than 40. They don’t have to be workaholics, but they need to be dedicated and hard-working people who have demonstrated that they are committed to the mission of affordable housing and community development.

To nominate someone, please e-mail Christine Serlin at cserlin@hanleywood.com telling us why you think the person has leadership ability, making sure to tell us the following:
• where they work and job title
• how you know them, and for how long
• how long they have worked in the industry
• what qualities make them potential leaders
• what you know about their philosophy, purpose, or career goals
• outstanding specific accomplishments that show leadership skill
• their age, if you know it
• their contact information
• their resume, if you have it
We suggest you keep your nomination confidential, as will we. We will be selective in determining who to profile in the magazine, so we don’t want to raise anyone’s hopes. Nor do we want this to be viewed as a career-advancement or resume-building tool. Deadline for nominations is Wednesday, June 2, 2010.

HOUSING FINANCE ONLINE SURVEY

The Department of Housing and Urban Development recently released a draft of its transforming rental assistance legislative proposal to allow public housing authorities and other owners of subsidized housing to convert to long-term Sec. 8 assistance through project-based vouchers or a new project-based contract program. Affordable Housing Finance wants to know readers’ thoughts on this initiative.

Click Here to take survey

Previous survey results: Green Building

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To reach AFFORDABLE HOUSING FINANCE Editor Christine Serlin, please e-mail cserlin@hanleywood.com

To reach AFFORDABLE HOUSING FINANCE online editor Spencer Markey, e-mail smarkey@hanleywood.com.

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