Thom Amdur Author Archives

Red Stone Equity Partners raised $510 million of tax credit equity in 2014. In addition, 2014 stands as the year that Red Stone surpassed $2.0 billion in total equity raised since its inception in 2007.

A new partnership between the Community Development Trust (CDT) and TIAA-CREF announced they will jointly invest $20 million to help preserve a total of 555 affordable housing units in six cities. This initial investment covers eight first mortgages on Low-Income Housing Tax Credit (LIHTC) properties in California.

Starting April 30, 2015, the U.S. Department of Housing and Urban Development Secretary will have the authority to approve requests to transfer project-based rental assistance, debt held or insured by the Secretary, and statutorily required income-based use restrictions from one multifamily housing project to another (or between several such projects).

The U.S. Department of Housing and Urban Development submitted to the Office of Management and Budget (OMB) a notice that will extend for 30 days the comment period on the Application for the Energy Innovation Fund – Multifamily Pilot Program.

In February, for the first time ever, NH&RA hosted a Public Housing Joint Venture Symposium in Key Largo, Florida where it convened HUD representatives with more than 100 developers, syndicators, lenders, and other members of the affordable housing community. The one-day event preceded the 2015 NH&RA Annual Meeting.

Candeur Group, LLC and Steven Fayne, former Managing Director in Citigroup’s affordable housing division, have formed a joint venture, Candeur Fayne, LLC. The new partnership will focus on affordable housing lending and investing activities including a CDFI lending facility, Low-Income Housing Tax Credit investing partnerships, and other investment banking products.

Boston Capital announced that it is investing in the construction of Patriot Homes, a 24-unit apartment community for individuals and families with a preference for veterans in Boston, Massachusetts. The general partners for this project are Caritas Communities and South Boston Neighborhood Development Corporation, based respectively in Braintree and Boston, MA.

The Franklin Johnston Group welcomed Christen Faatz, as the new Director of Corporate Strategy, and Theresa Cummings, as the Director of Human Resources.

The IRS released the 2015 Calendar Year Resident Population Figures. The notice provides population figures to calculate the credit ceiling for low-income housing tax credits (LIHTC)and volume caps for tax-exempt private activity bonds.

Great Lakes Capital Fund (GLCF) welcomed Christopher Laurent as Regional Vice President of its Wisconsin market and Chris Jillings to its Madison office as asset manager.

Novogradac & Company LLP updated the Novogradac Rent & Income Limit Calculator© to include the U.S. Department of Housing and Urban Development’s (HUD’s) fiscal year 2015 rent and income limit data.

U.S. Senators Rob Portman (R-OH) and Jeanne Shaheen (D-NH) introduced a bill to encourage energy efficiency in housing that is subsidized by the federal government. The Energy Savings and Industrial Competitiveness Act of 2015 (S. 720) authorizes the U.S. Department of Housing and Urban Development’s pay-for-success (PFS) demonstration to improve the energy efficiency of government-supported multifamily properties.