Thom Amdur Author Archives

The Obama Administration has answered that question with an ambitious focus on energy efficiency. It launched the Better Buildings Challenge in 2011 and aims to reduce energy use among buildings, from residential to commercial to public, by 20% over the next 10 years. The Department of Energy, which spearheads the initiative, convened more than 900 participants for the 2015 Better Buildings Summit in Washington, DC, this May.

The Senate Appropriations Subcommittee on Transportation, Housing and Urban Development approved Tuesday a FY-2016 THUD funding bill that slashes funds for the HOME program, which often provides vital funding for housing credit developments.

Homes for America was recognized as Nonprofit Developer of the Year and Telesis’ development, Bass Circle Apartments, was awarded Best Large Affordable Housing Project by the Housing Association of Non-Profit Developers.

HUD published a notice outlining a new sampling methodology to calculate utility allowances for several multifamily affordable housing programs. The notice standardizes the methodology used to calculate utility allowances across many HUD housing programs and bases the calculations on actual consumption.

Freddie Mac financed a $215 million loan for Harbor Point on the Bay, a large 1,284-unit mixed-income community that includes both affordable and market-rate housing on more than 43 acres in Boston. KeyBank Real Estate Capital arranged the senior debt financing for the borrower, Corcoran, Mullins, Jennison Inc. (CMJ), which is committed to providing quality affordable housing.

Freddie Mac recently priced an $812 million offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The K Certificates (K-PLB Certificates) are backed by Los Angeles’ historic Park La Brea, the largest apartment community on the West Coast, and are expected to settle on or about June 26, 2015.

NH&RA calls on its members to stop the Senate Appropriations Committee from slashing funding to the HOME program, join efforts to strength LIHTC, help preserve tax-exempt multifamily bonds, and advocate for the historic tax credit.

NH&RA’s Next Generation Leadership Initiative met in Washington, DC, on June 18. Ben Metcalf, DAS for HUD Multifamily Housing Programs, shared updates from his ongoing projects at HUD and talking about his experience as a rising leader in the industry.

WNC provided approximately $3.3 million in low-income housing tax credit equity to fund the renovation two affordable housing developments in Mississippi.

The U.S. Department of Treasury awarded Capfund New Markets $55 million in the most recent round of New Markets Tax Credit (NMTC) allocations, the largest award Capfund New Markets has received to date.

The CDFI Fund announced more than $3.5 billion in New Markets Tax Credit awards aimed at stimulating investment and economic growth in low-income urban neighborhoods and rural communities nationwide. Thirteen NH&RA members were among the 76 organizations across the country that will receive tax credit allocation authority under the 2014 round of the New Markets Tax Credit Program.

Boston Capital is investing in the construction of Post Oak Apartments, a 182-unit apartment community for individuals and families located in McKinney, Texas. Post Oak Apartments will be built with tax credit equity from the LIHTC program. One hundred thirty homes will be available to families and individuals earning 60 percent or less of the Area Median Income.