Thom Amdur Author Archives

Gardner Capital Development has been awarded a reservation of Low Income Housing Tax Credits from the Nebraska Finance Authority’s competitive application process to develop Fountain Springs Estates, a $5 million rental housing project consisting of 16 two- and three-bedroom duplexes for seniors.

As the tax credit community continues to mature, asset management represents the single biggest opportunity for many firms to improve the performance of their properties and their companies. NH&RA’s one-day Asset Management Symposium was just the beginning of a larger conversation around many of these issues.

Robinson+Cole releases an updated version of its Green Tax Incentive Compendium, which compiles federal and state tax incentives for renewable energy and energy efficiency.

The U.S. Department of Housing and Urban Development (HUD) released a final rule on affirmatively furthering fair housing. The rule clarifies existing fair housing obligations and indicates that HUD will provide open data and technical assistance for HUD grantees to meet those obligations.

Affirmed Housing, Artspace, BRIDGE Housing, Eden Housing, and Related California are among the recipients of 2015 Gold Nugget Awards.

TCAM announced the addition and promotion of staff. Elaine Magil has joined TCAM, expanding its third-party Asset Management and Consulting and Advisory Services groups as the list of clients grows. In addition, TCAM announced the promotion of Brian Urban to Director.

A FY-2014 report from the Housing Assistance Council provides an overview of the United States Department of Agriculture’s (USDA) rural housing loan and grant obligation activity. For multi-family programs, the report looks at how Section 515 funds, multi-family housing vouchers, and rental assistance contracts were awarded.

Love Funding, one of the nation’s leading providers of FHA multifamily, affordable and healthcare financing, announced the closing of three loans totaling $4.72 million to refinance affordable apartment communities in Kentucky managed by the same company.

Stratford Capital Group announced the hiring of Veronica D. Gominho as Vice President, Robert F. Sheehy as Assistant Vice President and John J. Sorel as Senior Vice President.

The U.S. Department of Housing and Urban Development published June 15 a revised Rental Assistance Demonstration (RAD) Notice. On Friday, July 10th, HUD will hold live Q/A sessions on the revised RAD Notice that was published on June 15, 2015.

Vesta Corporation will conduct a complete rehabilitation and redevelopment of Villa Serena Apartments, a 242-unit apartment community in Mayfield Heights, Ohio. Vesta was awarded a federal Senior Preservation Rental Assistance Contract (SPRAC). This award, combined with an FHA First Mortgage, 9% LIHTCs, and the $2 million, 20 year subsidy, will finance most of the estimated $40,000 per-apartment cost of the renovation.

The Michaels Organization Educational Foundation has awarded over 200 college scholarships worth a record $575,000 for the 2015/2016 academic year to residents of The Michaels Organization properties. With these latest awards, the total amount of scholarships awarded by the Foundation during the past 25 years now stands at more than $4.6 million.