General News

Red Stone Partners, a national real estate finance company active in the affordable multifamily housing market, recently established a new $250 million investment fund for the acquisition of fixed rate tax-exempt multifamily housing bonds.

The Montana Community Development Corporation (MCDC) recently announced that David Glaser has been elected the new President of MCDC, replacing Rosalie Sheehy Cates who resigned after serving for over two decades.

The Federal Housing Administration’s (FHA) Mortgagee Review Board has published a public notice that announces several administrative actions against FHA-approved lenders who failed to meet its requirements.

On July 21, President Obama signed the Restoring American Financial Stability Act of 2010 (H.R. 4173) into law, the most significant financial reform legislation since the Depression.

The U.S. Department of Housing and Urban Development’s (HUD) Office of Policy Development and Research has made available an interactive, historical timeline of key events, programs and legislation that has helped shape the nation’s housing policy since the 1930s.

The U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund has schedueld a series of conference calls regarding CDFI Certification to allow potential certification applicants to receive guidance and ask questions about becoming a certified CDFI.

On July 13, Brian Lawlor, Commissioner of DHCR and CEO of “nyhomes,” met with senior staff from both agencies and housing advocates from Long Island at the first of several roundtables to discuss opportunities and goals for the integration of nyhomes and DHCR.

In 2009, the State of Louisiana received approximately $39,383,397 in TCAP funds from HUD. The Agency has allocated nearly $36 million, with approximately $3 million of TCAP funding remaining due to developers returning previously allocated funds.

The Wisconsin Housing and Economic Development Authority has released memo that states it cannot guarantee gap funding for 2010 competitive low-income housing tax credit projects.

Delaware Governor Jack Markell earlier this week signed into law Senate Bill No. 209, which authorizes a ten year extension of the state’s Historic Preservation Tax Credit program.

On July 15, the Senate Appropriations Committee approved a USDA appropriations bill for FY 2011 that would increase funds for Section 502 direct and guaranteed loans.

The U.S. Department of Housing and Urban Development (HUD) recently announced that the current receivership team, Gilmore Kean, LLC will continue to lead the Housing Authority of New Orleans (HANO) from recovery to revitalization over the next three years.