Community Development Category Archives

What is the risk that LIHTC Properties in Massachusetts will convert to Market?

The Community Economic Development Assistance Corporation released a report, which explores the risk that LIHTC-financed properties in Massachusetts will convert to market-rate housing at Year 30. Roughly 86 percent of the 15,679 LIHTC units approaching year-30 are subject to some form of longer-term affordability restriction and will not be at risk for market conversion before December 31, 2030.

Read More

Microsoft Announces Additional $250 Million Investment in Affordable Housing

On the one year anniversary of Microsoft’s $500 million investment in affordable housing, the company announced an additional $250 million investment in affordable housing. The new investments will be placed with the Washington State Housing Finance Commission to allow them to bridge tax-exempt bond cap as well $50 million to seed the new Evergreen Housing Impact Fund.

Read More

Federal Reserve Bank of Philadelphia Publishes OZ Case Studies

Lei Ding and Peter Birke of the Federal Reserve Bank of Philadelphia have published a report on Opportunity Zones, “How Are Cities Leveraging Opportunity Zones for Community Development? Philadelphia as a Case Study.”  Using Philadelphia as a case study, this study intends to reflect on the selection of Opportunity Zones in major cities and to explore real estate market trends and residential mobility in designated zones in Philadelphia.

Read More

Quicken Loans, City of Detroit Release Sustainable Financing for Healthy Housing RFP

The Quicken Loans Community Fund, the City of Detroit Housing and Revitalization Department and Quantified Ventures are seeking applications from local organizations that holistically tackle housing challenges affecting the health and well-being of the Detroit community – either by eliminating systemic barriers to housing, or by securing safe, quality housing for low-income and typically underserved residents. The awarded team(s) will have an opportunity to work with Quantified Ventures to engage one or more payors (e.g., health systems). Applications are due on December 16, 2019. Applicants will be notified by mid-March 2020. Register here for a webinar on October 16 at 10:30 am EDT to learn more about the RFP.