Thom Amdur Author Archives

The Low-Income Housing Tax Credit has financed more than 2.7 million rental homes, according to a report from the National Association of Home Builders.

The Woda Group continues to rebuild senior affordable housing, which was destroyed by a fire while under construction earlier this year in Baltimore. The development has been recognized for overcoming significant obstacles.

California Governor Edmund Brown, Jr. appointed Ben Metcalf, former Deputy Assistant Secretary in the Department of Housing and Urban Development Office of Multifamily Housing Programs, to direct the California Department of Housing and Community Development.

Enterprise Community Partners’ largest multi-investor fund to date will finance 39 Low-Income Housing Tax Credit properties with more than 4,000 affordable rental apartments in 14 states. At $318 million, the “Enterprise Housing Partners 26 Fund” stands as one of the largest in the industry’s history.

HUD announced Choice Neighborhoods Planning and Action Grants, designed to spur the redevelopment of severely distressed public and HUD-assisted housing and transform surrounding neighborhoods. PHAs that are considering applying for RAD for demolition and new construction, or major rehabilitation or reconstruction, are encouraged to apply for a Choice Neighborhoods Planning and Action Grant.

Trinity Financial celebrated the completion of 113 new units of affordable housing in Brockton, MA. The housing is the first completed phase of a larger project being built under Chapter 40R.

Massachusetts Governor Charlie Baker joined WinnDevelopment and its partners to celebrate the groundbreaking of a new project to transform the Nockege Mill in downtown Fitchburg, MA, into 96 units of mixed-income housing.

An aging 200-unit property, owned by an affiliate of The Community Builders, will be demolished and replaced by modular, prefabricated homes. MassHousing provided $53 million in financing for the transaction, which includes Low-Income Housing Tax Credits and a renewed 20-year Section 8 HAP contract.

HUD designated the Difficult to Develop Areas (DDA) and Qualified Census Tracts (QCT) that will be effective July 1, 2016. This is the first year Small Area Fair Market Rents (SAFMRs) were used to designate metropolitan DDAs instead of metropolitan-area Fair Market Rents (FMRs).

Applications for the 9% federal Housing Credit, Vermont State Housing Credit are due by January 29. If you are planning to submit a project for tax-exempt construction or permanent financing in order to receive the 4% “Bond” Housing Credits and you intend to apply for state housing credits, you must submit that application by the same deadline.

North Carolina Housing Finance Agency released a second draft of the 2016 Qualified Allocation Plan, along with a memo to explain major revisions contained in the draft.

HUD answered frequently asked questions regarding the Section 811 project rental assistance program, including environmental review, fair housing, program administration, and requirements.