News

As an economic hub, a global destination, a great place to live, and a leader on environmental sustainability, Chicago is defining what it means to be a world-class city. Chicago’s 500,000 buildings are vibrant connections to the city’s history, and these buildings house the activities that are carrying Chicago forward into the 21st century. The […]

U.S. House of Representatives on Tuesday, December 9 introduced the so-called “Cromnibus” spending legislation, a $1 trillion bill that will fund most of the government through September 30, 2015. The measure combines a three-month continuing resolution (CR) for the Department of Homeland Security and 11 full spending bills for the remaining government agencies through the end of fiscal year (FY) 2015.

On Dec 11, 2014, House Ways and Means Committee chairman Rep. Dave Camp H.R. 1, released the Tax Reform Act of 2014 and U.S. Senate Senate Finance Committee Republican staff released the report “Comprehensive Tax Reform for 2015 and Beyond.” Both the legislation and the report have implications for the future of housing tax credits.

Federal revenue generated by the New Markets Tax Credit more than pays for the cost of the program, according to a recently released report from the New Markets Tax Credit Coalition. This was just one of the findings of “A Decade of the New Markets Tax Credit: An Economic Impact Analysis,” which examines the economic impact of the NMTC program from 2003 to 2012.

Housing credit properties are performing well across-the-board, including large, small, urban, and exurban projects, according to a new report from Cohn Reznick.

Federal Housing Finance Agency (FHFA) Director Melvin L. Watt instructed Fannie Mae and Freddie Mac to begin setting aside and allocating funds for the Housing Trust Fund and the Capital Magnet Fund. The funds have sat empty since they were created six years ago due to a temporary suspension.

The National Council of Housing Market Analysts gathered this week in New Orleans for discussions as bright and energetic as the legendary holiday decorations that lit up historic Roosevelt Hotel where they took place. While NCHMA is largely made up for market analysts, the event attracted professionals from across the industry. Eight in-depth panels featured the voices of Housing Finance Agency representatives, developers, and syndicators, in additional to market analysts. The conference participants delved into issues that spanned from adjusting for potential Section 8 subsidy loss to identifying market red flags to strategies for Year 15 projects.

HUD released a webinar highlighting certain provisions in the recently published Supportive Housing and Services for the Elderly and Persons with Disabilities: Implementing Statutory Reforms Proposed Rule.

The U.S. Treasury Department announced that Annie Donovan will be the new Director of the Community Development Financial Institutions Fund (CDFI Fund).

The District of Columbia Department of the Environment have released the findings of a recent study detailing how the District, already home to more green buildings per capita than other large cities, can best craft policy and create incentives to build zero energy, zero water and Living Buildings™. The study, Net Zero and Living Building […]

Most operational tasks at multifamily communities strive to maximize efficiency in order to increase the bottom line. The web-based revolution in the past 10 to 15 years has helped these businesses to streamline their operations and as that technology evolves, companies are taking a closer look at, and improving, the ways they are spending money […]

Compilation of State Housing Finance Agency, QAP, LIHTC, Gap Financing and other news for the week of November 17, 2014.