A. J. Johnson & Caitlin Jones • 2 min read
A national trade group has created a council dedicated to promoting greater energy efficiency in existing federally assisted affordable housing developments. The new Council for Energy Friendly Affordable Housing (CEFAH) is a new council within the National Housing & Rehabilitation Association.
A. J. Johnson & Caitlin Jones • 6 min read
A New England developer is using a systematic, data-driven approach to make cost-effective green retrofits to its existing affordable rental housing properties. Part of this involves a strategic analysis of the existing capital needs assessment budget and reserve replacement schedule of each property, to prioritize the order in which properties are upgraded, to determine the optimum energy-efficiency improvements for each property, and to find ways to help pay for improvements.
A. J. Johnson & Caitlin Jones • 4 min read
A new report outlines steps that the U.S. Department of Housing and Urban Development (HUD) and a second agency plan to take to better promote, encourage, and facilitate development of transportation-oriented mixed-income housing.
A. J. Johnson & Caitlin Jones • 8 min read
A new residential/commercial project in Portland, OR, a pioneer in several respects, illustrates the opportunities and challenges of doing mixed-use development. The new construction project was built to green/sustainability standards, featured a public-private partnership, and introduced new development and lifestyle concepts to the Portland market.
A. J. Johnson & Caitlin Jones • 10 min read
The low-income housing tax credit (LIHTC) and other federal resources offer potential ways to turn distressed real estate assets into viable affordable rental housing projects, according to speakers at a recent conference. These potential new deals even include troubled LIHTC properties now in their 10-year tax credit period. In addition to the LIHTC, other federal resources mentioned included the “Mark-to-Market” program and fledgling Neighborhood Stabilization Program (NSP).
A. J. Johnson & Caitlin Jones • 8 min read
A metropolitan area that focuses on quality of life, Portland, OR, is atypical of the rest of the country. While recession is gradually creeping into the local economy, the impact is far more manageable than other comparable urban areas in the U.S.
A. J. Johnson & Caitlin Jones • 4 min read
Two organizations are pressing Congress to approve additional legislative changes to the low-income housing tax credit program (LIHTC) as part of any new economic stimulus package, in order to assist a tax credit market now struggling from a shortage of equity from investors. Congress is expected to put together an economic stimulus measure in early 2009 at the latest.
A. J. Johnson & Caitlin Jones • 5 min read
Responses to a recent survey of state housing credit agencies by the Tax Credit Advisor finds that in general states haven’t had many low-income housing tax credit awards returned so far. In addition, states to date have only committed a small fraction of their available 2009 housing credit authority.
A. J. Johnson & Caitlin Jones • 3 min read
U.S. Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, said on 10/28/08 that legislation to preserve existing federally assisted and subsidized affordable rental housing units will a top priority for his panel in the next, 111th Congress.
A. J. Johnson & Caitlin Jones • 6 min read
A massive mixed-use development with two big retailers, two apartment buildings, and commercial tenants is taking shape in the Uptown neighborhood in Chicago’s North Side. The $150 million Wilson Yard project, scheduled to open in 2010, will contain two low-income housing tax credit buildings, a Target discount store financed in part with federal new markets tax credits, a supermarket, and other commercial tenants.
A. J. Johnson & Caitlin Jones • 7 min read
Section 42(g)(2)(A) of the Internal Revenue Code states that a unit in a low-income housing tax credit project is considered rent restricted only if the gross rent does not exceed 30% of the imputed income limitation applicable under the elected minimum set-aside test. Under this test, at least 20% of the project’s units must be rented to households at or below 50% of the area median income (AMI); at least 40% rented to households at or below 60% of AMI; or (for deep rent-skewed projects) at least 25% rented to households at or below 60% of AMI.
A. J. Johnson & Caitlin Jones • 8 min read
Housing industry observers generally are optimistic about the future for affordable housing under the incoming Obama Administration. They take heart from the community-organizer background and big city orientation of President-elect Barrack Obama, and from some of the top people around him. But they also concede his White House will begin on January 20 with other, more pressing priorities on its plate, and will probably be constrained financially from being able to press any major new housing funding or initiatives.