Mark Fogarty • 10 min read
Investors have different takes on what to do at Year 15 and Year 30 of Low Income Housing Tax Credit deals, and it isn’t quite as simple as the divide between mission-driven and financially-driven backers.
Mark Fogarty • 5 min read
As MassHousing works to commit the balance of a literally groundbreaking $100 million project to create workforce housing, the agency is already planning for its Workforce Housing Initiative 2.0.
Mark Fogarty • 4 min read
Income averaging can be a considerable help in increasing the number of workforce housing units available to those who don’t qualify for subsidies and cannot afford market rates.
Mark Fogarty • 6 min read
There are some affordable housing projects that aren’t supposed to be bond deals, that are done far from the urban sweet spots the industry associates them with. But bonds can work in rural and “in between” areas, too, although the deals may become a little more hands-on.
Mark Fogarty • 6 min read
When tax-exempt bonds fund an affordable housing project instead of nine percent Low Income Housing Tax Credits, state tax credits can be a real dealmaker.
Mark Fogarty • 6 min read
There’s no question that the 40 buildings in the Betances Portfolio in the Bronx borough of New York City can benefit from substantial rehabilitation. After all, the earliest of these Betances multifamily properties was constructed in 1906.
Mark Fogarty • 5 min read
A program to match real estate development with area transit lines in Portland, OR increasingly is targeting affordable housing after regional government found low-income residents ride metro area trains and buses more than other groups do.
Mark Fogarty • 6 min read
An ambitious Detroit program to preserve 10,000 existing affordable multifamily units and build 2,000 new ones is moving quickly to prevent the potential 15-year opt-out of a large number of Low Income Housing Tax Credit projects and sustain affordability in the Motor City.
Mark Fogarty • 7 min read
There’s plenty of data to indicate Maryland’s Health Enterprise Zones (HEZ) have been successful in their goal of reducing health disparities for racial and ethnic minorities and reducing healthcare costs in the state.
Mark Fogarty • 7 min read
A new certification not only indicates that an affordable housing owner/manager has a coordinated and robust resident services operation but also that it can help them qualify for an up to 30 basis point discount on a multifamily affordable housing loan from Fannie Mae.
Mark Fogarty • 5 min read
Innovation in deals using both Low Income Housing Tax Credits and tax-exempt bonds can be seen in a pair of Washington, DC affordable housing projects that tapped the two funding sources for more than $80 million using a new master parity indenture program.
Mark Fogarty • 6 min read
November’s state and municipal elections brought a big crop of newly-approved bonds into the affordable housing finance mix, with some of them passing by wide margins, and the biggest, in California, authorizing a whopping $4 billion in new money.