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OHIO 2021 LIHTC DEADLINES, UPDATES TO AFFORDABLE HOUSING Applications for Ohio Housing Finance Agency’s (OHFA) 2021 nine percent LIHTC round are due by 5 p.m. ET on February 11. The most current version of the 2021 Affordable Housing Funding Application (AHFA) was updated on January 14, 2021. Several formula and reference errors were corrected since original publishing date of December 4,2020. The
NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting NEW MARKETS TAX CREDITS AND HOUSING 1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
HOME - NH&RAABOUT USEVENTSCOUNCILSNEWSTAX CREDIT ADVISORRESOURCES The Illinois state legislate passed the COVID-19 Affordable Housing Grant Program Act (HR 27252), which would require that LIHTC properties in Cook County be assessed using the income-approach, as well as a new property tax incentive policy that would provide reduction in assessed value for both subsidized and market-rate owners that provide affordable units. TREASURY’S ERA2 GUIDANCE: SIGNIFICANT CHANGES TO LANDLORD The Department of the Treasury allocated an additional $21.55 billion in emergency rental assistance funds to the states and communities from the American Rescue Plan Act. The new funds (ERA 2) set aside $2.5 billion for eligible grantees with a high need based on the number of very low-income renter households paying more than 50 percent of income on rent or living in substandard or BANK OF AMERICA CREATES $60 MILLION FUND FOR BIPOC Bank of America Community Development Banking, in partnership with Enterprise Community Partners, is investing $60 million–$30 million in loans and $30 million in equity financing–to support Enterprise’s Equitable Path Forward, a five-year initiative to help facilitate racial equality in housing, Enterprise said in an announcement.The investment will increase access to capital and MARK COLÓN NOMINATED AS CPD ASSISTANT SECRETARY, SOLOMON Colón is currently the Chairperson of El Puente de Williamsburg and a board member of the Institute for Energy Economics and Financial Analysis (IEEFA). Colón is a native New Yorker and currently lives in Brooklyn with his wife, Gina Kim, and their 14-year-old son. Solomon Greene is a senior fellow at the Urban Institute, where he leads ASSET MANAGEMENT SYMPOSIUM (2021) Join NH&RA June 8-9 for our 2021 Virtual Asset Management Symposium and learn how leading asset management executives from around the country are shaping new best practices, identifying value creation opportunities and reorienting for a post-COVID 19 world. * NH&RA records audio and/or video during the panel sessions. NEW YORK’S COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM OF On April 16, 2021, New York Gov. Andrew Cuomo signed into law the COVID-19 Emergency Rental Assistance Program of 2021 (the “2021 Act”). The 2021 Act allocates $2.45 billion in rental relief for New York households, including $2.35 billion in federal funds and $100 million in state funds. Each state or other jurisdiction receiving federal funds is charged with administering those funds SPRING DEVELOPERS FORUM (2021) The Spring Developers Forum brings together GPs, LPs, Lenders, Attorneys, Accountants, HFAs, and other affordable housing professionals to explore best practices and network. We invite you to join NH&RA May 3-4 for two days of timely discussion, market updates and networking. Now more than ever it is critical to share strategiesand collaborate
OHIO 2021 LIHTC DEADLINES, UPDATES TO AFFORDABLE HOUSING Applications for Ohio Housing Finance Agency’s (OHFA) 2021 nine percent LIHTC round are due by 5 p.m. ET on February 11. The most current version of the 2021 Affordable Housing Funding Application (AHFA) was updated on January 14, 2021. Several formula and reference errors were corrected since original publishing date of December 4,2020. The
NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting NEW MARKETS TAX CREDITS AND HOUSING 1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
HOME - NH&RA
The Illinois state legislate passed the COVID-19 Affordable Housing Grant Program Act (HR 27252), which would require that LIHTC properties in Cook County be assessed using the income-approach, as well as a new property tax incentive policy that would provide reduction in assessed value for both subsidized and market-rate owners that provide affordable units. AFFORDABLE HOUSING INSTITUTE HOSTS HEALTH, HOUSING Affordable Housing Institute will hold a webinar June 17 entitled Health, Housing and Equity. Panelists at the free event will discuss the intersection between housing and public health care, a case study of housing and community development in Milwaukee, WI, and how creating health secure housing in historically underinvested communities can be a cornerstone of recover. HUNT CLOSES ON $8.5 MILLION FINANCING IN CALIFORNIA Hunt Capital Partners announced that it and developer D.L. Horn and Associates have closed on more than $8.5 million in federal Low Income Housing Tax Credit equity financing for the acquisition and rehabilitation of 163 units of affordable multifamily housing in PalmDesert.
LOW-INCOME HOUSING TAX CREDIT RATES The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates — one for 70% present value credit (PVC) and one for the 30% present value credit. NOTE: the 70% rate is currently fixed by statute at 9%. CHFA'S OPPORTUNITY FUND A pool of up to $3,000,000 is available as gap financing for proposed developments that demonstrate both a financial feasibility need and a prudent use of CHFA's resources in order to accomplish flexibility and additional opportunities in the development of affordable housing throughout the State of Connecticut. Please note that funding is subject to ongoing availability and further HUNT CLOSES ON $8.2 MILLION FINANCING IN WASHINGTON STATE Hunt Capital Partners said it and developer Housing Initiatives LLC closed on more than $8.2 million in Low Income Housing Tax Credit equity financing for the construction of 46 units of affordable multifamily housing in Vancouver, WA, to house the homeless. The Vancouver Housing Authority will provide public housing subsidies for the apartments, Hunt said. HOUSING AUTHORITY, CITY OF CAMDEN AWARDED CNI GRANT The Michaels Organization said the Housing Authority of the City of Camden, NJ, along with the city as co-applicant, were awarded $35 million in Choice Neighborhood Initiative (CNI) funding for the transformation of Ablett Village, a public housing community. Michaels, HACC's private sector housing partner for Ablett Village, will begin the first phase of the four-phase comprehensive TIBER HUDSON WELCOMES EVATT AND GLENN Tiber Hudson LLC announced it named Patrick Evatt as a partner and Scottland Glenn as associate to the Washington, DC-based firm. Patrick and Scottland have a significant amount of experience in the development and finance of affordable housing and historic preservation utilizing federal, state and local programs and incentives with a particular emphasis on the use of such WODA OPENS MIXED-INCOME PROPERTY IN MICHIGAN Woda Cooper Companies announced it held a grand opening and ribbon-cutting to celebrate the new $14 million Osborn Commons in downtown Sault Ste. Marie, MI. The mixed-income, mixed-use community is located at 215 Governor Osborn Boulevard in the city’s Moloney Alley redevelopment area, targeted in a statewide placemaking initiative by the Michigan Municipal League and Michigan State GRAHAM JOINS COHNREZNICK AS TAX PARTNER CohnReznick LLP announced that Joshua (Josh) Graham joined the firm as a tax partner in its commercial real estate practice. Based in the Chicago metro area, he has extensive public accounting experience in the construction and real estate industries, and HOME - NH&RAABOUT USEVENTSCOUNCILSNEWSTAX CREDIT ADVISORRESOURCES The administration says it will launch an interagency effort to address inequity in home appraisals and publish next week in the Federal Register a proposed rule on countering housing practices with discriminatory effects and an interim proposed rule on HUD’s Affirmatively Furthering Fair Housing. TREASURY’S ERA2 GUIDANCE: SIGNIFICANT CHANGES TO LANDLORD The Department of the Treasury allocated an additional $21.55 billion in emergency rental assistance funds to the states and communities from the American Rescue Plan Act. The new funds (ERA 2) set aside $2.5 billion for eligible grantees with a high need based on the number of very low-income renter households paying more than 50 percent of income on rent or living in substandard or BANK OF AMERICA CREATES $60 MILLION FUND FOR BIPOC Bank of America Community Development Banking, in partnership with Enterprise Community Partners, is investing $60 million–$30 million in loans and $30 million in equity financing–to support Enterprise’s Equitable Path Forward, a five-year initiative to help facilitate racial equality in housing, Enterprise said in an announcement.The investment will increase access to capital and NEW YORK’S COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM OF On April 16, 2021, New York Gov. Andrew Cuomo signed into law the COVID-19 Emergency Rental Assistance Program of 2021 (the “2021 Act”). The 2021 Act allocates $2.45 billion in rental relief for New York households, including $2.35 billion in federal funds and $100 million in state funds. Each state or other jurisdiction receiving federal funds is charged with administering those funds MARK COLÓN NOMINATED AS CPD ASSISTANT SECRETARY, SOLOMON Colón is currently the Chairperson of El Puente de Williamsburg and a board member of the Institute for Energy Economics and Financial Analysis (IEEFA). Colón is a native New Yorker and currently lives in Brooklyn with his wife, Gina Kim, and their 14-year-old son. Solomon Greene is a senior fellow at the Urban Institute, where he leads SPRING DEVELOPERS FORUM (2021) The Spring Developers Forum brings together GPs, LPs, Lenders, Attorneys, Accountants, HFAs, and other affordable housing professionals to explore best practices and network. We invite you to join NH&RA May 3-4 for two days of timely discussion, market updates and networking. Now more than ever it is critical to share strategiesand collaborate
LOW-INCOME HOUSING TAX CREDIT RATES The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates — one for 70% present value credit (PVC) and one for the 30% present value credit. NOTE: the 70% rate is currently fixed by statute at 9%. NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting NEW MARKETS TAX CREDITS AND HOUSING 1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
FFB RISK SHARING PROGRAM ENDS The Federal Financing Bank (FFB) multifamily risk-sharing initiative with Housing Finance Agencies (HFAs) officially ended on Dec. 31, 2019. In February of 2018, HUD announced that it would end the FFB financing initiative on Sept. 30, 2018. In September of 2018, HUD then granted an extension through the end of the year to review the program’s effectiveness. HOME - NH&RAABOUT USEVENTSCOUNCILSNEWSTAX CREDIT ADVISORRESOURCES The administration says it will launch an interagency effort to address inequity in home appraisals and publish next week in the Federal Register a proposed rule on countering housing practices with discriminatory effects and an interim proposed rule on HUD’s Affirmatively Furthering Fair Housing. TREASURY’S ERA2 GUIDANCE: SIGNIFICANT CHANGES TO LANDLORD The Department of the Treasury allocated an additional $21.55 billion in emergency rental assistance funds to the states and communities from the American Rescue Plan Act. The new funds (ERA 2) set aside $2.5 billion for eligible grantees with a high need based on the number of very low-income renter households paying more than 50 percent of income on rent or living in substandard or BANK OF AMERICA CREATES $60 MILLION FUND FOR BIPOC Bank of America Community Development Banking, in partnership with Enterprise Community Partners, is investing $60 million–$30 million in loans and $30 million in equity financing–to support Enterprise’s Equitable Path Forward, a five-year initiative to help facilitate racial equality in housing, Enterprise said in an announcement.The investment will increase access to capital and NEW YORK’S COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM OF On April 16, 2021, New York Gov. Andrew Cuomo signed into law the COVID-19 Emergency Rental Assistance Program of 2021 (the “2021 Act”). The 2021 Act allocates $2.45 billion in rental relief for New York households, including $2.35 billion in federal funds and $100 million in state funds. Each state or other jurisdiction receiving federal funds is charged with administering those funds MARK COLÓN NOMINATED AS CPD ASSISTANT SECRETARY, SOLOMON Colón is currently the Chairperson of El Puente de Williamsburg and a board member of the Institute for Energy Economics and Financial Analysis (IEEFA). Colón is a native New Yorker and currently lives in Brooklyn with his wife, Gina Kim, and their 14-year-old son. Solomon Greene is a senior fellow at the Urban Institute, where he leads SPRING DEVELOPERS FORUM (2021) The Spring Developers Forum brings together GPs, LPs, Lenders, Attorneys, Accountants, HFAs, and other affordable housing professionals to explore best practices and network. We invite you to join NH&RA May 3-4 for two days of timely discussion, market updates and networking. Now more than ever it is critical to share strategiesand collaborate
LOW-INCOME HOUSING TAX CREDIT RATES The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates — one for 70% present value credit (PVC) and one for the 30% present value credit. NOTE: the 70% rate is currently fixed by statute at 9%. NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting NEW MARKETS TAX CREDITS AND HOUSING 1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
FFB RISK SHARING PROGRAM ENDS The Federal Financing Bank (FFB) multifamily risk-sharing initiative with Housing Finance Agencies (HFAs) officially ended on Dec. 31, 2019. In February of 2018, HUD announced that it would end the FFB financing initiative on Sept. 30, 2018. In September of 2018, HUD then granted an extension through the end of the year to review the program’s effectiveness. ASSET MANAGEMENT SYMPOSIUM (2020) Hosted in the midst of the COVID-19 Pandemic (June 2020), NH&RA’s 2020 Asset Management Symposium focused on innovative and creative portfolio management strategies that could be implemented during times of crisis and disruption. Learn how asset management and portfolio management executives adapted to the pandemic footing and how they implemented strategies that IHCDA - MARKET STUDY ANALYSIS AND REVIEW - NH&RA ISSUE DATE: June 7, 2021 RESPONSE DEADLINE: June 28, 2021, 5:00 PM Eastern Time CONTRACT TO BEGIN: August 1, 2021. The Indiana Housing and Community Development Authority (“IHCDA”) is requesting proposals to select a market study analyst to review market studies submitted to IHCDA and conduct third-party market studies on behalf of IHCDA, on an as-needed basis. ASSET MANAGEMENT SYMPOSIUM (2021) Join NH&RA June 8-9 for our 2021 Virtual Asset Management Symposium and learn how leading asset management executives from around the country are shaping new best practices, identifying value creation opportunities and reorienting for a post-COVID 19 world. * NH&RA records audio and/or video during the panel sessions. LOW-INCOME HOUSING TAX CREDIT RATES The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates — one for 70% present value credit (PVC) and one for the 30% present value credit. NOTE: the 70% rate is currently fixed by statute at 9%. CDC EVICTION MORATORIUM: HUD GUIDANCE, TRANSLATIONS OF HUD’s Office of Multifamily Housing is encouraging owners to inform residents of the eviction protections under the Centers for Disease Control and Prevention (CDC) order and the required declaration form. The National Housing Law Project (NHLP) is working with partners to translate the declaration form. The form is currently available in Spanish, Vietnamese and Arabic. A Virginia landlord NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting WINNRESIDENTIAL APPOINTS OKE JOHNSON EVP WinnResidential, the property management arm of WinnCompanies, announced that it appointed Oke Johnson as the executive vice president responsible for the company’s management portfolio and new business growth in California and Arizona. DEMAND AND CAPTURE RATE METHODOLOGIES Introduction: NCHMA has separate definitions of overall market demand and project specific demand. Overall market demand is the total number of households in a defined market area that would potentially move into any new or renovated housing units. Market demand is not project specific and covers all renter households and income levels. Components of demand WWW.HOUSINGONLINE.COM www.housingonline.com NEW MARKETS TAX CREDITS AND HOUSING 1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
HOME - NH&RAABOUT USEVENTSCOUNCILSNEWSTAX CREDIT ADVISORRESOURCES The administration says it will launch an interagency effort to address inequity in home appraisals and publish next week in the Federal Register a proposed rule on countering housing practices with discriminatory effects and an interim proposed rule on HUD’s Affirmatively Furthering Fair Housing. TREASURY’S ERA2 GUIDANCE: SIGNIFICANT CHANGES TO LANDLORD The Department of the Treasury allocated an additional $21.55 billion in emergency rental assistance funds to the states and communities from the American Rescue Plan Act. The new funds (ERA 2) set aside $2.5 billion for eligible grantees with a high need based on the number of very low-income renter households paying more than 50 percent of income on rent or living in substandard or BANK OF AMERICA CREATES $60 MILLION FUND FOR BIPOC Bank of America Community Development Banking, in partnership with Enterprise Community Partners, is investing $60 million–$30 million in loans and $30 million in equity financing–to support Enterprise’s Equitable Path Forward, a five-year initiative to help facilitate racial equality in housing, Enterprise said in an announcement.The investment will increase access to capital and NEW YORK’S COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM OF On April 16, 2021, New York Gov. Andrew Cuomo signed into law the COVID-19 Emergency Rental Assistance Program of 2021 (the “2021 Act”). The 2021 Act allocates $2.45 billion in rental relief for New York households, including $2.35 billion in federal funds and $100 million in state funds. Each state or other jurisdiction receiving federal funds is charged with administering those funds MARK COLÓN NOMINATED AS CPD ASSISTANT SECRETARY, SOLOMON Colón is currently the Chairperson of El Puente de Williamsburg and a board member of the Institute for Energy Economics and Financial Analysis (IEEFA). Colón is a native New Yorker and currently lives in Brooklyn with his wife, Gina Kim, and their 14-year-old son. Solomon Greene is a senior fellow at the Urban Institute, where he leads SPRING DEVELOPERS FORUM (2021) The Spring Developers Forum brings together GPs, LPs, Lenders, Attorneys, Accountants, HFAs, and other affordable housing professionals to explore best practices and network. We invite you to join NH&RA May 3-4 for two days of timely discussion, market updates and networking. Now more than ever it is critical to share strategiesand collaborate
LOW-INCOME HOUSING TAX CREDIT RATES The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates — one for 70% present value credit (PVC) and one for the 30% present value credit. NOTE: the 70% rate is currently fixed by statute at 9%. NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting NEW MARKETS TAX CREDITS AND HOUSINGAUTO SALES TAX MEMPHIS TNPROPERTYTAX MEMPHIS TN
1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
FFB RISK SHARING PROGRAM ENDS The Federal Financing Bank (FFB) multifamily risk-sharing initiative with Housing Finance Agencies (HFAs) officially ended on Dec. 31, 2019. In February of 2018, HUD announced that it would end the FFB financing initiative on Sept. 30, 2018. In September of 2018, HUD then granted an extension through the end of the year to review the program’s effectiveness. HOME - NH&RAABOUT USEVENTSCOUNCILSNEWSTAX CREDIT ADVISORRESOURCES The administration says it will launch an interagency effort to address inequity in home appraisals and publish next week in the Federal Register a proposed rule on countering housing practices with discriminatory effects and an interim proposed rule on HUD’s Affirmatively Furthering Fair Housing. TREASURY’S ERA2 GUIDANCE: SIGNIFICANT CHANGES TO LANDLORD The Department of the Treasury allocated an additional $21.55 billion in emergency rental assistance funds to the states and communities from the American Rescue Plan Act. The new funds (ERA 2) set aside $2.5 billion for eligible grantees with a high need based on the number of very low-income renter households paying more than 50 percent of income on rent or living in substandard or BANK OF AMERICA CREATES $60 MILLION FUND FOR BIPOC Bank of America Community Development Banking, in partnership with Enterprise Community Partners, is investing $60 million–$30 million in loans and $30 million in equity financing–to support Enterprise’s Equitable Path Forward, a five-year initiative to help facilitate racial equality in housing, Enterprise said in an announcement.The investment will increase access to capital and NEW YORK’S COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM OF On April 16, 2021, New York Gov. Andrew Cuomo signed into law the COVID-19 Emergency Rental Assistance Program of 2021 (the “2021 Act”). The 2021 Act allocates $2.45 billion in rental relief for New York households, including $2.35 billion in federal funds and $100 million in state funds. Each state or other jurisdiction receiving federal funds is charged with administering those funds MARK COLÓN NOMINATED AS CPD ASSISTANT SECRETARY, SOLOMON Colón is currently the Chairperson of El Puente de Williamsburg and a board member of the Institute for Energy Economics and Financial Analysis (IEEFA). Colón is a native New Yorker and currently lives in Brooklyn with his wife, Gina Kim, and their 14-year-old son. Solomon Greene is a senior fellow at the Urban Institute, where he leads SPRING DEVELOPERS FORUM (2021) The Spring Developers Forum brings together GPs, LPs, Lenders, Attorneys, Accountants, HFAs, and other affordable housing professionals to explore best practices and network. We invite you to join NH&RA May 3-4 for two days of timely discussion, market updates and networking. Now more than ever it is critical to share strategiesand collaborate
LOW-INCOME HOUSING TAX CREDIT RATES The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates — one for 70% present value credit (PVC) and one for the 30% present value credit. NOTE: the 70% rate is currently fixed by statute at 9%. NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting NEW MARKETS TAX CREDITS AND HOUSINGAUTO SALES TAX MEMPHIS TNPROPERTYTAX MEMPHIS TN
1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
FFB RISK SHARING PROGRAM ENDS The Federal Financing Bank (FFB) multifamily risk-sharing initiative with Housing Finance Agencies (HFAs) officially ended on Dec. 31, 2019. In February of 2018, HUD announced that it would end the FFB financing initiative on Sept. 30, 2018. In September of 2018, HUD then granted an extension through the end of the year to review the program’s effectiveness. ASSET MANAGEMENT SYMPOSIUM (2020) Hosted in the midst of the COVID-19 Pandemic (June 2020), NH&RA’s 2020 Asset Management Symposium focused on innovative and creative portfolio management strategies that could be implemented during times of crisis and disruption. Learn how asset management and portfolio management executives adapted to the pandemic footing and how they implemented strategies that IHCDA - MARKET STUDY ANALYSIS AND REVIEW - NH&RA ISSUE DATE: June 7, 2021 RESPONSE DEADLINE: June 28, 2021, 5:00 PM Eastern Time CONTRACT TO BEGIN: August 1, 2021. The Indiana Housing and Community Development Authority (“IHCDA”) is requesting proposals to select a market study analyst to review market studies submitted to IHCDA and conduct third-party market studies on behalf of IHCDA, on an as-needed basis. ASSET MANAGEMENT SYMPOSIUM (2021) Join NH&RA June 8-9 for our 2021 Virtual Asset Management Symposium and learn how leading asset management executives from around the country are shaping new best practices, identifying value creation opportunities and reorienting for a post-COVID 19 world. * NH&RA records audio and/or video during the panel sessions. LOW-INCOME HOUSING TAX CREDIT RATES The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates — one for 70% present value credit (PVC) and one for the 30% present value credit. NOTE: the 70% rate is currently fixed by statute at 9%. CDC EVICTION MORATORIUM: HUD GUIDANCE, TRANSLATIONS OF HUD’s Office of Multifamily Housing is encouraging owners to inform residents of the eviction protections under the Centers for Disease Control and Prevention (CDC) order and the required declaration form. The National Housing Law Project (NHLP) is working with partners to translate the declaration form. The form is currently available in Spanish, Vietnamese and Arabic. A Virginia landlord NATIONAL COUNCIL OF HOUSING MARKET ANALYSTS NCHMA Background Created in 2001, the National Council of Housing Market Analysts (NCHMA) is the only professional body dedicated exclusively to enhancing the professionalism and standards surrounding residential rental real estate market analysis. NCHMA’s members are comprised primarily of professionals involved in performing and reviewing residential market studies and underwriting WINNRESIDENTIAL APPOINTS OKE JOHNSON EVP WinnResidential, the property management arm of WinnCompanies, announced that it appointed Oke Johnson as the executive vice president responsible for the company’s management portfolio and new business growth in California and Arizona. DEMAND AND CAPTURE RATE METHODOLOGIES Introduction: NCHMA has separate definitions of overall market demand and project specific demand. Overall market demand is the total number of households in a defined market area that would potentially move into any new or renovated housing units. Market demand is not project specific and covers all renter households and income levels. Components of demand WWW.HOUSINGONLINE.COM www.housingonline.com NEW MARKETS TAX CREDITS AND HOUSING 1 New Markets Tax Credits and Housing Common Misunderstandings About New Markets Tax Credits • Commercial real estate development is thebest use of
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WHITE HOUSE ANNOUNCES PROPOSALS TO REDUCE THE RACIAL WEALTH GAP The administration says it will launch an interagency effort to address inequity in home appraisals and publish next week in the Federal Register a proposed rule on countering housing practices with discriminatory effects and an interim proposed rule on HUD’s Affirmatively Furthering Fair Housing. WHITE HOUSE RELEASES FULL FY 2022 BUDGET REQUEST Last week, President Joe Biden (D) released the administration’s full fiscal year (FY) 2022 discretionary funding request to Congress. The HUD budget requests $68.7 billion, a $9 billion or 15-percent increase from the 2021 enacted level. GUIDE TO PUBLIC HOUSING REPOSITIONING RELEASED HUD has made available a new Guide to Public Housing Repositioning, which reviews the different options, and associated planning considerations, available to Public Housing Agencies (PHAs) as they consider the long-term future of their portfolios.MEMBER NEWS
WINNRESIDENTIAL APPOINTS OKE JOHNSON EVP WinnResidential, the property management arm of WinnCompanies, announced that it appointed Oke Johnson as the executive vice president responsible for the company’s management portfolio and new business growth in California and Arizona. HUNT CAPITAL PARTNERS CLOSES ON TAX CREDIT EQUITY FINANCING INMILWAUKEE
Hunt Capital Partners and developer Royal Capital Group will use $13.1 million in tax credit equity for the rehabilitation and adaptive reuse of an old school dating to 1902 plus the addition of adjacent new construction to create 82 units of multifamily housing, Hunt said in an announcement. Both Federal Low Income Housing Tax Credits and Federal and State Historic Tax Credits have been allocated for theproject.
USA PROPERTIES STARTS CONSTRUCTION ON TERRACINA USA Properties Fund announced it has started construction on Terracina at Lancaster, a fast-growing city in northern Los Angeles County.JUNE LIHTC RATES
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