Obama Outlines Spending Plans
President Barack Obama has outlined a fiscal 2010 budget that provides more funding for federal housing programs, including $1 billion for the national Affordable Housing Trust Fund.
Look on the Brighter Side
The news continues to be bleak, and signs of the economic downturn on the affordable housing industry are evident in AFFORDABLE HOUSING FINANCE’s exclusive rankings of the Top 50 owners and developers.
HUD Team Takes Shape
WASHINGTON, D.C. Carol Galante is taking her experience as an affordable housing developer to the Department of Housing and Urban Development (HUD).
Housing and Economic Recovery Act: Median Incomes and Rent Growth at LIHTC Properties
The impact of the Housing and Economic Recovery Act of 2008 (HERA), as reflected in the 2009 median family incomes (MFI), has brought a welcome reversal to the problem of no rent growth at Sec. 42 low-income housing tax credit (LIHTC) properties, along with a few other benefits for underwriting...
NEW ORLEANS—Since the floodwaters of Hurricane Katrina poured into the C.J. Peete public housing complex here, Jocquelyn Marshall and her son have traveled from an emergency shelter in Tunica, Miss., to an apartment in Houston, and then to an apartment in another New Orleans neighborhood.
Welcoming a New Era
WASHINGTON, D.C.—When dawn broke Jan. 20, close to 2 million people were already on the move, streaming toward the U.S. Capitol to watch Barack Obama become president.
What's Ahead for Donovan
WASHINGTON, D.C.—Shaun Donovan has promised to make the foreclosure crisis “job one” in his role as secretary of the Department of Housing and Urban Development (HUD).
COLUMBUS, OHIO The Ohio Housing Finance Agency (OHFA) Board recently approved more than $5 million to fund affordable housing;
Tapping FHA Funds
The challenges of today's tight lending environment have forced low-income housing tax credit (LIHTC) developers to dig even deeper to make deals happen. Developers are challenged to fill funding gaps with resources that are still viable in today's market.
Developers Migrate to FHA
With conventional construction lenders reluctant to fund new apartment projects and take-out mortgage lenders sticking with conservative leverage levels, many market-rate developers are gravitating toward the program known as “(d)(4).”