Thom Amdur Author Archives

Last week the House of Representatives passed a $1.5 trillion infrastructure package (H.R. 2), which includes several housing provisions. A summary of the housing provisions in the bill can be found here. The measure passed by a vote of 233 to 188, with three Republicans crossing party lines to support it and two Democrats breaking […]

On June 7, 2020 the House Appropriations Committee released its draft fiscal year 2021 Transportation, Housing and Urban Development, and Related Agencies funding bill. The measure was adopted by the Subcommittee on July 8, 2020.  The measure heads next to the Full Committee for an additional markup.  The bill provides a total of $50.6 billion […]

After consuming bushels of news articles, social media posts and White House Coronavirus briefings over the past several months, I think we have all become amateur epidemiologists.

A recent Federal Reserve survey found that 39 percent of households that were working in February and were earning less than $40,000 a year lost their jobs in March or the beginning of April. Given these statistics and the target demographic, owners and managers of affordable housing have been preparing for dramatic declines in rental revenue.

The residents we serve are amongst the most vulnerable to both the health and economic effects of the crisis so, as an industry, we cannot afford to take a break or slow down. Much of our vital work has continued (with modifications) under new social distancing protocols and I want to acknowledge our many colleagues who are risking exposure to ensure critical maintenance and services get delivered, construction projects remain on some semblance of a schedule and, of course, rents get collected.

The rapid escalation of the COVID-19 Coronavirus Pandemic is having a deeply unsettling impact on how we live and how we work. It is testing our disaster response system in unanticipated ways and will require a new kind of resilience from us.

The enactment of the 2017 Tax Cuts and Jobs Act and the creation of the Qualified Opportunity Zone Incentive (QOZI) has generated a great deal of activity by investors deploying capital in disinvested neighborhoods.

As you will read repeatedly in this issue, affordable housing is one of the most effective (and cost-effective) healthcare interventions, particularly for vulnerable populations, like the homeless. Without the stability of an affordable home, it is very difficult to treat the root causes of many common, yet intervenable, illnesses and conditions that plague modern America, whether it be hypertension, diabetes, obesity, asthma, mental illness or a myriad of other societal ills.

The tax credit equity market was relatively stable in 2019, but there is change in the air for 2020. We came heartbreakingly close to a flat four percent Low Income Housing Tax Credit (LIHTC) for bond-financed projects in the year-end funding and tax extenders package, which gives us reason to be hopeful in 2020.

In preparation for the 2020 RFP/2021 HTC Round 1, Minnesota Housing will host an RFP and Technical Assistance kickoff event on Thursday, February 13, 2020 from 10:00 a.m. to 12:00 p.m. at Minnesota Housing. Our kickoff event will include the following information: RFP Introduction: Overview of the RFP process and timeline; Minnesota Housing’s strategic priorities and […]

On December 17, 2019 from 10:00 a.m.- 12:00 p.m., the Illinois Housing Development Authority (Authority) will hold its listening session regarding the proposed guidance on projects with rental assistance contracts requesting tax-exempt bonds and 4% Low-Income Housing Tax Credits in the Authority’s offices located at 111 E. Wacker Drive, Suite 1000. As a reminder, guests will be asked to register in the 111 E. Wacker Drive lobby as part of the building’s standard security protocol. Pre-registration is strongly encouraged.

A grand opening celebration was held Tuesday, December 3, at Freedman Point, 311 E. Cawson Street, Hopewell, VA, to mark the opening of the new 68-unit affordable apartments within a mixed-use community. The $14.4 million community was developed by Woda Cooper Companies, Inc., Columbus, OH. Co-developer is Bay Aging,  Urbanna, VA. In addition to two- and three-bedroom apartments, the new property also brings a large commercial space to be developed for retail businesses or professional offices. This will complement many other nearby retail businesses, restaurants, service outlets, and community amenities including the adjacent Appomattox Regional Library.