Member News

The partners and principals of CohnReznick announced David Kessler the next Chief Executive Officer. David will officially take office on February 1, 2020 when current CEO Frank Longobardi completes his term.

Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $3.5 billion in New Markets Tax Credits (NMTC) for 73 Community Development Entities (CDEs). Congratulations to the ten NH&RA members that received NMTC awards!

Freddie Mac Multifamily announced four vice presidents: Geri Borger Urgo is now vice president, production & sales, overseeing the Southeast and Northeast regions. Michael Case is now vice president, multifamily capital markets, overseeing all multifamily loan pricing functions. Catherine Evans is now vice president, Small Balance Loan (SBL) underwriting, overseeing the SBL underwriting team. Amanda Nunnink is now vice president, Multifamily investor relations, leading the team that markets the multifamily securities platform. 

Woda Cooper hosted a grand opening and ribbon-cutting on May 15, 2019 for its new Muncy Greene development. The $13.8 million development features 60 single-level apartments that are geared towards low-income seniors. It is one of the first multifamily properties in Pennsylvania to be built to Passive House Institute US certification standards to ensure energy efficiency and low heating and cooling cost.

Cinnaire announced the closing of a $400,000 loan with the Indianapolis Neighborhood Housing Partnership® (INHP) for land acquisition for development of affordable housing one block from a Red Line bus rapid transit station in Indianapolis. The investment is the first loan from the $15 million Equitable Transit-Oriented Development fund launched in February 2019.

Red Mortgage Capital recently closed a $22 million portfolio with a joint venture between Related Affordable and the Texas Housing Foundation. The funding will enable Related to substantially rehabilitate 14 properties located in 12 rural Texas communities, preserving the affordability of 556 housing units.

Chesapeake Community Advisors (CCA) is holding its 10th Annual Golf Tournament on June 3 at the Sparrow Point Country Club (919 Wise Avenue Baltimore, MD 21222. Each year the Ben Etheridges’s CCA golf tournament fundraises for the Juvenile Diabetes Research Foundation to find a cure for type 1 diabetes. Since Ben’s untimely passing on June 30, 2018 the tournament has been renamed “Ben’s Friends Golf Classic.”

RED Mortgage Capital announced the closing of a $60 million, 18 property portfolio in Union City, NJ through the Freddie Mac OptigoSM Small Balance Loan (SBL) program. The financing was for the acquisition of the multifamily properties, which include 481 units of affordable housing.

Novogradac updated its Rent & Income Limit Calculator© with HUD’s FY 2019 rent and income limit data. Using the HUD-published data, the Novogradac Rent & Income Limit Calculator© will calculate low-income housing tax credit (LIHTC) rent and income limits for every county and every metropolitan statistical area in the US.

The National Trust Community Investment Corporation (NTCIC) announced the successful financial closing for the rehabilitation of the vacant Philip Morris Blended Leaf Complex in downtown Richmond, VA into a new headquarters for Congregations Around Richmond To Assure Shelter (CARITAS).

Novogradac and Company released Part II of its analysis of the second tranche of Opportunity Zones regulations. In addition to the issues discussed in Part I, Michael Novogradac covers some of the issues getting the most attention including…

This blog from Glenn A. Graff, Dan Klaff, Eric Mittereder and Ben Swartzendruber with Applegate & Thorne-Thomsen highlights some of the questions addressed by the second set of OZ regulations.