Hawaiian Volunteer Depends on Affordable Project
KANEOHE, HAWAII - When Dorothea Pale and her husband, Isaia, were younger and both working, renting a house in this town near Honolulu was within their financial reach. Read more
COLUMBUS—The Ohio Housing Finance Agency (OHFA) will continue to reshape its qualified allocation plan (QAP) in 2008. Read more
CASPER—The Wyoming Community Development Authority (WCDA) is emphasizing the location of affordable housing developments in the draft of its 2008 qualified allocation plan (QAP). Read more
DES MOINES—The Iowa Finance Authority (IFA) has upped the maximum award total to $700,000 from $600,000 in its 2008 qualified allocation plan (QAP). Read more
LINCOLN—The Nebraska Investment Finance Authority (NIFA) will put more emphasis on green building design in its 2008 qualified allocation plan (QAP). Read more
COLUMBIA—South Carolina is revising its 2008 qualified allocation plan (QAP) for low-income housing tax credits (LIHTCs) to beef up its criteria for rehabilitation projects and offer extra points to developers with experience working with LIHTC-financed projects. Read more
BURLINGTON—Applicants for low-income housing tax credits (LIHTCs) in Vermont next year will have to meet tough new green design standards, according to the draft 2008 qualified allocation plan (QAP). Read more
Demand for tax-exempt bonds to finance multifamily projects is on the upswing, and will rise even further in 2008, according to industry observers. Read more
HONOLULU—With the price of land and cost of development so high in Hawaii, lowincome housing tax credits (LIHTCs) are essential to developing affordable housing in the state. Read more
ANCHORAGE—More stringent market study standards are required for low-income housing tax credit (LIHTC) projects in Alaska in 2008. Read more
CHICAGO—The next year will bring tremendous opportunities for progress in federal affordable housing policy, but only if housing advocates come up with good ideas to modernize current programs and convince the next president to install a capable reformer as the head of the Department of Housing and Urban Development (HUD). Read more
ATLANTA—Georgia expects to see projects that preserve existing affordable housing properties take up a larger share of its low-income housing tax credit (LIHTC) authority over the next couple of years, as the number of properties aging out of their LIHTC restrictions rises. Read more
RICHMOND—Developers will have to do more to win low-income housing tax credits (LIHTCs) in Virginia in 2008. Read more
DOVER—The entire low-income housing tax credit (LIHTC) program here will focus on rehabilitating existing affordable housing in 2008. "We have our heart set on preservation," said Lisa McCloskey, a housing mortgage finance officer for the Delaware State Housing Authority (DSHA). Read more
FRANKPORT—Projects centered on preservation of existing housing stock and green construction methods will be the focus of the Kentucky Housing Corp.’s (KHC) 2008 qualified allocation plan. Read more
LANSING—The Michigan State Housing Development Authority (MSHDA) has overhauled its 2008 qualified allocation plan (QAP), proposing significant changes that include mandating green and sustainable design features, introducing new holdback criteria, and changing the way income levels are calculated. Read more
JACKSON—The priorities and rules for low-income housing tax credit (LIHTC) applications in Mississippi are little changed for 2008. Read more
ALBUQUERQUE—Affordable housing developers in New Mexico requested more than $11.7 million in 9 percent low-income housing tax credits (LIHTCs) this year. Seven projects received about $4.94 million in LIHTC reservations. Read more
PROVIDENCE—Dorothy Boisseau has already driven out to visit all nine of the project sites that applied for 2008 low-income housing tax credits (LIHTCs). Read more
Adopting green design features will be critical to winning low-income housing tax credits (LIHTCs) in many states in 2008. Read more
BEDFORD—Affordable housing projects designed to conserve energy, water, or land will get a big advantage in the competition for New Hampshire’s 2008 low-income housing tax credits (LIHTCs). Read more
ROCKY HILL—Developers have already laid claim to more than a third of Connecticut’s $6.9 million in 2008 low-income housing tax credits (LIHTCs), even though applications aren’t due until the end of February. Read more
CROWNSVILLE—Officials are proposing a host of changes to the competition for low-income housing tax credits (LIHTCs) in Maryland, ranging from new ways to earn points that reward green, energy-efficient projects to a series of tweaks that recognize the high cost of construction. Read more
BISMARK—The North Dakota Housing Finance Agency (NDHFA) plans to increase its emphasis on preservation deals in 2008. About 40 percent of the state’s low-income housing tax credit (LIHTC) allocations in 2007 went to acquisition-rehabilitation deals, a figure that is expected to rise in 2008. Read more
LITTLE ROCK—The most interesting trend on the affordable housing front in Arkansas this year was the increased interest in assisted-living developments. Read more
St. PAUL—The Minnesota Housing Finance Agency (Minnesota Housing) continues to increase its emphasis on green and sustainable design standards in the 2008 qualified allocation plan (QAP). Read more
SALEM—Affordable housing developers will compete for about $7.3 million in low-income housing tax credits (LIHTCs) in Oregon in 2008. Read more
AUSTIN—Changes in the at-risk and U.S. Department of Agriculture Rural Development (RD) set-asides are some of the most notable changes proposed in the Texas Department of Housing and Community Affairs’ (TDHCA) 2008 draft qualified allocation plan (QAP), according to Robbye Meyer, director of multifamily finance. Read more
DENVER—Colorado’s low-income housing tax credit (LIHTC) program for 2008 is likely to include a 5 percent increase in basis caps and some green building incentives, but otherwise hold to existing priorities. Read more
Resident Builds a Life in SupportiveHousing
NEW YORK CITY - On her first day at work, Carmen Gonzales heard the heavy doors of the jail on Rikers Island clang behind her. A substance abuse counselor to prisoners living with HIV/AIDS, she was nervous— but not about meeting her new clients. Read more
HARRISBURG—Pennsylvania’s competition for low-income housing tax credits (LIHTCs) will encourage projects in underserved housing markets and discourage new development in outer-ring suburbs. Read more
TOPEKA—The Kansas Housing Resources Corp. (KHRC) has added two new categories to the "priority housing needs" list in its 2008 qualified allocation plan (QAP). Read more
CHICAGO—The Illinois Housing Development Authority (IHDA) has made some significant changes to its 2008-2009 qualified allocation plan (QAP), revamping its setaside categories and offering incentives for lower-income targeting and green building techniques. Read more
BATON ROUGE—The Louisiana Housing Finance Agency (LHFA) forward allocated its 2008 tax credit authority in 2006 and 2007 for projects in the Gulf Opportunity (GO) Zone and projects located outside the GO Zone requesting per capita low-income housing tax credits (LIHTCs), said Brenda Evans, program administrator. Read more
PIERRE—Developers working in South Dakota will notice a few significant changes in the state’s 2008 qualified allocation plan (QAP). Read more
MONTGOMERY—Demand for low-income housing tax credits (LIHTCs) exploded in Alabama over the last two years, more than doubling compared to 2005 demand, and is likely to remain high in 2008 as developers respond to the state’s increased LIHTC authority with a surge in project proposals. Read more
NEW YORK CITY—Affordable housing projects that conserve resources and create healthier living spaces will have a big advantage in the competition for low-income housing tax credits (LIHTCs) here in 2008. Read more
NASHVILLE—Tennessee Housing Development Agency’s (THDA’s) 2008 qualified allocation plan (QAP) is not yet final, but the most notable changes in the most recent draft include awarding more points for green building. The QAP is expected to be finalized by the end of 2007. Read more
TRENTON—Almost all the projects that won 2007 low-income housing tax credits (LIHTCs) met New Jersey’s tough new green building standards for the conservation of resources and the creation of healthy living spaces, with the exception of a few projects to preserve existing affordable housing. Read more
SACRAMENTO— Housing for the homeless is expected to receive more low-income housing tax credits (LIHTCs) than it has in the past in California. Read more
CHARLESTON—Affordable housing developers in West Virginia will compete for $3.54 million in low-income housing tax credits (LIHTCs) in 2008. Read more
OKLAHOMA CITY—The Oklahoma Housing Finance Agency (OHFA) will have $7 million in 2008 lowincome housing tax credit (LIHTC) authority—the same it had it 2007, and $600,000 less than it had in 2006. Read more
RALIEGH—North Carolina housing officials may have mercy on cost-strapped affordable housing developers next year. Read more
BOSTON—Officials here may increase the amount of lowincome housing tax credits (LIHTCs) that they set aside to finance projects to preserve existing affordable housing. Read more
HELENA—The Montana Board of Housing’s (MBH’s) 2008 qualified allocation plan (QAP) is mostly unchanged from the 2007 QAP, though one change may spur more development of units serving the lowest income levels. Read more
Nation’s Housing Woes Continue toWorsen
With all the hand wringing about what’s been dubbed the “subprime lending crisis,” Congress has spent many days debating ways to help overextended borrowers and impose new regulations on home loan providers. Read more
BOISE—There may be one less step in Idaho’s low-income housing tax credit (LIHTC) allocation program in 2008. Read more
TALLAHASSEE—Florida officials are looking to boost their emphasis on green building Read more
WASHINGTON, D.C.—Green building used to give applications an edge in the competition for funding here. Now it’s mandatory. Read more
Chicago—As I wrapped up AHF Live: The Tax Credit Developers’ Summit here in October, I was amazed by the excitement it generated. Read more
Tax credit developers could find rough sailing ahead as rental income remains flat while operating expenses rise and the amount of equity investment in their deals shrinks even as construction costs rise. Read more
Fannie Mae has released its new Delegated Underwriting and Servicing (DUS) guide, an overhaul of the guidelines by which its network of affiliated lenders makes loans. Read more
Rehab of Historic Landmark Helps an Active Mother
OMAHA, NEB. - For more than half a century, the Livestock Exchange Building served as the center of Omaha’s livestock industry—before it fell vacant as the stock pens stood empty. Read more
KANSAS CITY—The Missouri Housing Development Commission (MHDC) made some small changes to its 2008 qualified allocation plan. Read more
AUGUSTA—Infill projects will get a big advantage in the competition for Maine’s lowincome housing tax credits (LIHTCs) in 2008 Read more
SALT LAKE CITY—The most interesting trend to emerge in Utah’s lowincome housing tax credit (LIHTC) program is the increase in rehabilitation projects, said W. Robin Kemker, Utah Housing Corp.’s (UHC) senior tax credit analyst. Read more
PHOENIX—For the second year running, Arizona’s Department of Housing (ADOH) has reorganized its tax credit competition without changing substantive goals. Read more
INDIANAPOLIS—The Indiana Housing and Community Development Authority (IHCDA) expects its low-income housing tax credit (LIHTC) authority to be roughly $12.3 million in 2008, the same as 2007 Read more
MADISON—Preservation will again be an important part of the Wisconsin Housing and Economic Development Authority’s (WHEDA’s) tax credit allocation process in 2008, as the state’s population growth historically has been minimal. Read more
SEATTLE—Developers who face NIMBY opposition will get some support under a new policy from the Washington State Housing Finance Commission. Read more