icon Blueprint for March

The Social Engine

By
3 min read

One of the joys of editing this magazine—in addition to the chance to intermingle with and learn from all of you—is the opportunity to tackle topics that make a substantial difference in American lives. To me, the tax credit oriented development business is a model to admire: It allows participants to build successful careers by supporting others’ well-being. It brings the public and private sectors together for beneficial collaboration. It is a social engine that drives improvement of health, welfare, comfort, security, equality, and community.

In our most recent issues, we have looked at social issues that are addressed by affordable housing: workforce housing, senior housing, and artist housing. Each of these contribute to the conditions of residents, the condition of community, and the overall condition of our society.

This month, we have the privilege of examining three other social situations to which housing is making a considerable contribution.

It is ironic that current candidates for President are utilizing mistreatment of veterans as campaign ammunition at the same time that veteran homelessness is being so rigorously confronted in many areas across the country. In New Orleans alone, Mayor Mitch Landrieu brought together a diverse and devoted coalition that now claims to have moved 100% of homeless veterans off the streets and into bedrooms. Minnesota has created statewide coalitions of its own to provide shelter. These are just two examples of the many you will find in Mark Olshaker’s update on addressing veteran homelessness. (A Home to Come Home To) To help set up this journey, our guru, David A. Smith, considers the needs of veterans returning to a confusing homeland. (The guru is in)

Baltimore is a city facing a great need for suitable housing, as well as a town with a lot of available land sitting beneath deserted and desolate row houses. Admirably, Governor Larry Hogan (a Republican) and Mayor Stephanie Rawlings-Blake (a Democrat) have found the political will and capital to preserve the housing that deserves it and replace the housing that is no longer functional. Joel Swerdlow visited Baltimore to tour the city with those leading the housing movement and looks at two initiatives in side-by-side stories. (Rebuilding Baltimore)

We often find ourselves pleasantly surprised by the innovative uses of New Markets Tax Credits to solve community issues. Joining our growing list of favorite stories is Bendix Anderson’s visit to Erskine Green in Muncie, Indiana, where a new hotel complex houses and trains people with disabilities to have careers in the hotel services industry. (More Than a Hotel)

In this issue, you will also find a report on a breakthrough deal in long-term financing. (Debt Corner) as well as reports from both Novogradac and CohnReznick, that commemorate the 30th anniversary of LIHTC and assess the program’s success.

I hope you get as much satisfaction out of reading the stories in this issue as we did searching them out. Feel good about yourselves and your occupation of choice. You deserve it.

Marty Bell, Editor