All posts by Thom Amdur

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New Developments: The Delicate Balance

The rapid escalation of the COVID-19 Coronavirus Pandemic is having a deeply unsettling impact on how we live and how we work. It is testing our disaster response system in unanticipated ways and will require a new kind of resilience from us.

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New Developments: Let’s All Make Housing Healthier

As you will read repeatedly in this issue, affordable housing is one of the most effective (and cost-effective) healthcare interventions, particularly for vulnerable populations, like the homeless. Without the stability of an affordable home, it is very difficult to treat the root causes of many common, yet intervenable, illnesses and conditions that plague modern America, whether it be hypertension, diabetes, obesity, asthma, mental illness or a myriad of other societal ills.

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New Developments: “May You Live In Interesting Times”

The tax credit equity market was relatively stable in 2019, but there is change in the air for 2020. We came heartbreakingly close to a flat four percent Low Income Housing Tax Credit (LIHTC) for bond-financed projects in the year-end funding and tax extenders package, which gives us reason to be hopeful in 2020.

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Minnesota Schedules 2020 Consolidated Request for Proposals (RFP)/2021 Housing Tax Credits Round 1 Kickoff Event Feb. 13

In preparation for the 2020 RFP/2021 HTC Round 1, Minnesota Housing will host an RFP and Technical Assistance kickoff event on Thursday, February 13, 2020 from 10:00 a.m. to 12:00 p.m. at Minnesota Housing. Our kickoff event will include the following information:

  • RFP Introduction: Overview of the RFP process and timeline; Minnesota Housing’s strategic priorities and selection standards; and tips for application submission, including dual application submission.
  • Funding and Requirements: Information on applying for housing tax credits, deferred loans and amortizing loans available through the RFP, including eligible uses for Housing Infrastructure Bonds.
  • Multifamily Requirements and Resources: Learn what helps make an application competitive and key requirements specific to Minnesota Housing’s Underwriting and Design standards.

Small group technical assistance will be available in the afternoon on key topics where you can discuss project concepts and project details, in addition to program guidelines with Minnesota Housing staff.

A go-to webinar option will be available for the RFP and Technical Assistance Kickoff morning presentation. More information and registration will be available in January.

Illinois Schedules Listening Session On Bond Program Changes (December 17)

On December 17, 2019 from 10:00 a.m.- 12:00 p.m., the Illinois Housing Development Authority (Authority) will hold its listening session regarding the proposed guidance on projects with rental assistance contracts requesting tax-exempt bonds and 4% Low-Income Housing Tax Credits in the Authority’s offices located at 111 E. Wacker Drive, Suite 1000. As a reminder, guests will be asked to register in the 111 E. Wacker Drive lobby as part of the building’s standard security protocol. Pre-registration is strongly encouraged.

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Woda Cooper Companies Celebrates Grand Opening in Hopewell, VA

A grand opening celebration was held Tuesday, December 3, at Freedman Point, 311 E. Cawson Street, Hopewell, VA, to mark the opening of the new 68-unit affordable apartments within a mixed-use community. The $14.4 million community was developed by Woda Cooper Companies, Inc., Columbus, OH. Co-developer is Bay Aging,  Urbanna, VA. In addition to two- and three-bedroom apartments, the new property also brings a large commercial space to be developed for retail businesses or professional offices. This will complement many other nearby retail businesses, restaurants, service outlets, and community amenities including the adjacent Appomattox Regional Library.

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Enterprise and Wells Fargo Create the Housing Affordability Breakthrough Challenge

Enterprise Community Partners and Wells Fargo are pleased to announce the Housing Affordability Breakthrough Challenge, a bold initiative designed to spark innovations that support housing affordability in the areas of construction, financing, and resident services and support. A collaboration presented by Enterprise Community Partners with generous financial support from Wells Fargo, the Housing Affordability Breakthrough Challenge invites creative innovators to participate in a competitive application process with an opportunity to receive a grant and technical assistance to further scalable housing affordability solutions.

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Maryland Posts 2020 Draft QAP

The Maryland Department of Housing and Community Development (DHCD) released the draft of the 2020 Qualified Allocation Plan (QAP) and Multifamily Rental Financing Guide (Guide) for public comment.  Draft comments are due by December 15, 2019 and can be submitted to dhcd.qap@maryland.gov. A summary of proposed revisions is available here. Please note the list only includes the major proposed revisions, not all revisions.

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