Paul Connolly Author Archives

Blueprint for January: The Common Good is the Common Thread

The new year always brings new hopes and the potential for a fresh start. I try to be a glass half full kind of guy, but it’s tough as we slog through the third winter of the global pandemic.

Blueprint for February: Half a Century of People Making Connections

This has been a fun issue of Tax Credit Advisor for me to work on. We’re helping National Housing & Rehabilitation Association (NH&RA) kick off its 50th anniversary celebration in 2022.

Blueprint for December

It’s the time of year many companies conduct performance reviews. If I were 2021’s supervisor, I think I would give the year an “exceeds expectations” rating.


LIHTC, $154 Billion in Housing Spending Now Included in Build Back Better Act

House leadership recently released an updated version of the Build Back Better Act, which now includes $153.95 billion in direct housing spending provisions as well as several key LIHTC provisions.

Blueprint for November: The Mosaic of Affordable Housing

In this month’s issue, Mark Fogarty reports on a rehab of the Miriam Apartments in Chicago. Originally built in 1925 as housing for seniors.

Blueprint for October: Building Trust for the Tough Road Ahead

This month in Tax Credit Advisor, we’re taking a look at resident services. “Two weeks to flatten the curve” has turned into 84 weeks, or a year-and-a-half. After a summer of optimism thanks to vaccines and falling COVID-19 cases and deaths, the virus came roaring back.


Merchants Capital Raises $2.7 Million Support Neighborhood Housing  

Merchants Capital said its real estate equity team, in partnership with First Merchants Bank, The National Bank of Indianapolis and Merchants Bank of Indiana, reached the closing of Indiana Social Impact Housing Equity Fund II, LP. The Fund targets large-scale revitalization of vacant single-family homes in traditionally disinvested neighborhoods in and around downtown Indianapolis. 


House Committees Mark Up Reconciliation Bills with Major Housing Investments 

The House Financial Services Committee completed their work on Tuesday and sent their portion of the bill to the House floor with a 30-24 party-line vote. The committee voted down all of the amendments offered by Republicans.  

Federal Housing Finance Agency

Fannie, Freddie Each Increase LIHTC Investment by $350 Million; FHA Risk-Share Programs Resume

Last week, the White House released a sweeping set of actions the Biden-Harris administration is taking to increase the supply of affordable housing.


IRS Extends Virtual Public Hearing Option for Tax-Exempt Bonds Through March 31, 2022

The Internal Revenue Service (IRS) issued Rev. Proc. 2021-39, which extends the ability of bond issuers to conduct hearings virtually through March 31, 2022 due to COVID-19.


Joint Letter to Chairwoman Waters on Amending Emergency Rental Assistance Authorizing Statute

The National Council of State Housing Agencies, along with other major national organizations representing Emergency Rental Assistance (ERA) grantees sent a letter to House Financial Services Committee Chairwoman Maxine Waters (D-CA) providing recommendations on amending the ERA program to eliminate statutory barriers in administration and expedite the provision of assistance to eligible households.


NLIHC, PAHRC Update National Housing Preservation Database

The National Low Income Housing Coalition (NLIHC) and Public and Affordable Housing Research Corporation (PAHRC) updated its National Housing Preservation Database with new data for properties assisted by Section 8 Project-Based Rental Assistance, LIHTCs, Public Housing, HUD-insured mortgages, Section 202 Direct Loans, Section 515 mortgages, Section 538 Guaranteed Loans, fair market rent and Real Estate Assessment Center scores.

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