March 2009 Table of Contents

NMTCs Spur Bridgeport Revival

BRIDGEPORT, CONN.—The city's old downtown used to be as quiet as a graveyard on weekends, but that's starting to change as developers find ways to revitalize the neighborhood. Read more

How to Survive Tough Times

The stakes are raised this year for affordable housing developers. Read more

Looking for a Deal? Public Housing Has Billions to Spend

In February, Congress handed public housing authorities $4 billion for capital needs as part of the stimulus package, and billions more may be allocated this year through the appropriations process. Read more

Rebuilding Begins

NEW ORLEANS—Since the floodwaters of Hurricane Katrina poured into the C.J. Peete public housing complex here, Jocquelyn Marshall and her son have traveled from an emergency shelter in Tunica, Miss., to an apartment in Houston, and then to an apartment in another New Orleans neighborhood. Read more

Historic Help

In these challenging times of affordable housing development, sponsors are looking everywhere for sources of financing for their deals. Read more

Breaking Ground Breaking Ground

NEW ORLEANS—While a marching band played ragtime and former residents cheered, New Orleans Mayor Ray Nagin cut the ribbon to open 30 rebuilt seniors apartments at Wisdom Manor in January. Read more

LIHTC Prices May Fall Further

Despite developers’ hopes that the low-income housing tax credit (LIHTC) market would stabilize this year, conditions remain frustratingly unsettled due to a lack of investor capital. Read more

Caution Ahead

A number of the mistakes made by developers are the same that have been made for years Read more

Using Energy Credits

Incorporating solar panels at housing tax credit properties offers many valuable benefits Read more

The Ins and Outs of Swaps The Ins and Outs of Swaps

For the past several years, interest-rate swaps have been widely available to affordable housing borrowers as a method to fix the interest rate on a loan. Read more

Welcoming a New Era Welcoming a New Era

WASHINGTON, D.C.—When dawn broke Jan. 20, close to 2 million people were already on the move, streaming toward the U.S. Capitol to watch Barack Obama become president. Read more

Wave of FHA Loans in Wait

While the Federal Housing Administration (FHA) is a steady source of liquidity, it is often perceived as a lender of last resort due to the sometimes slow and bureaucratic process of working with the Department of Housing and Urban Development. Read more

What's Ahead for Donovan

WASHINGTON, D.C.—Shaun Donovan has promised to make the foreclosure crisis “job one” in his role as secretary of the Department of Housing and Urban Development (HUD). Read more

Foundation Returns to Green Basics

AUSTIN, TEXAS—Contractors for Foundation Communities are getting out their caulking guns— the nonprofit plans to make 1,800 of the affordable apartments it owns and manages more energy efficient. Read more


MEET GARY GORMAN, president and CEO of Gorman & Co., Inc., a Wisconsin-based firm specializing in urban renewal projects. Read more

Make It Safe

WASHINGTON, D.C.—Fighting crime in a community sometimes begins when a developer walks up to the door of a resident and knocks. Read more

Tapping FHA Funds

The challenges of today's tight lending environment have forced low-income housing tax credit (LIHTC) developers to dig even deeper to make deals happen. Developers are challenged to fill funding gaps with resources that are still viable in today's market. Read more

Being Compliant

The Sec. 42 tax credit program is more than 20 years old. It would be nice to think our compliance challenges were behind us, but that's not the case. Here are the top challenges owners and property managers still face. Read more


EIGHT LOCAL NONPROFIT organizations and one city agency will share in $10.4 million to provide housing for people with AIDS. Read more

The New Colonias

SAN JUAN, TEXAS—Homes made of scavenged wood line the streets of some subdivisions here, where very poor “homeowners” can be thrown out on almost any pretext. Read more

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