Applications for the Atlanta Federal Home Loan Bank’s Affordable Housing Program (AHP) General Fund are being accepted through 11:59 p.m. ET on June 4.
National Equity Fund, Inc. (NEF), Metropolitan Atlanta Rapid Transit Authority (MARTA) and Morgan Stanley announced the launch of the $100 million Greater Atlanta Transit Oriented Affordable Housing Preservation Fund. The Fund will provide financing to multi-family property owners to help low-income families and individuals stay in their homes, and not be displaced as rents increase in transit-rich neighborhoods throughout the Greater Atlanta metropolitan area.
The Affordable Housing Tax Credit Coalition (AHTCC) announced recipients of the 2020 Charles L. Edson Tax Credit Excellence Awards, recognizing some of the most outstanding affordable housing developments across the country. Congratulations to the four NH&RA members receiving awards!
The Public Broadcasting Service (PBS) recently aired its new documentary, East Lake Meadows: A Public Housing Story. Stories from East Lake Meadow residents in Atlanta reveal hardship and resilience, and raise critical questions about race, poverty and who is deserving of public assistance.
The Georgia Department of Community Affairs (DCA) announced that it is no longer accepting applications for tax exempt bonds and four percent LIHTC transactions after determining that the current four percent bond pre-applications in the underwriting pipeline exceed the 2020 bond cap. By the end of 2019, DCA received 67 pre-applications for four percent LIHTCs […]
Some of Atlanta’s most seasoned real estate leaders have joined to launch the Atlanta Affordable Housing Fund, LP, a social impact fund designed to provide low interest rate financing for affordable housing projects. The $25 million fund will deploy low-cost capital to qualified developers and sponsors, which is estimated to provide financing to create and/or preserve up to 1,500 affordable housing units.
Woda Cooper Companies recently celebrated the ribbon cutting of its new 91-unit senior community on Atlanta’s BeltLine. Adair Court was made possible through the allocation of LIHTCs from the Georgia Department of Community Affairs, as well as support from the City of Atlanta, Invest Atlanta and Atlanta BeltLine, Inc. Bank of America Merrill Lynch was investor and provided the construction loan. Summit Community Bank contributed permanent loan.
The Supreme Court of Georgia decided in Heron Lake II Apartments, LP et al. v. Lowndes County Board of Tax Assessors that LIHTCs do no constitute “actual income.” The decision centers around the argument that investors do not receive more money from anyone for tax credits rather, they merely pay less in taxes to the […]
RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-29 with total tax credit equity of $116,012,401. The Fund consists of $110.4 million of LIHTC equity and $5.6 million of Georgia State LIHTC equity.
HUD awarded nearly $1.5 billion to support seven states in their recovery from 2018 disasters, including Hurricane Michael, Hurricane Florence and wildfires in California.
Mark Shelburne has left his position as senior manager, public policy with Novogradac and accepted an offer to direct the Office of Housing Finance at Georgia DCA.
In all of the 50 largest cities across the country (or the “central cities”), 75 percent of the Extremely Low Income (ELI) population is rent “burdened” and paying more than 30 percent of their income for housing, according to a new report issued by Bill Brauner, Director of Housing & Preservation at the Community Economic Development Assistance Corporation (CEDAC) in Boston.