Member News

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.

Bank of America Merrill Lynch Community Development Banking provided more than $3.2 billion in loans, tax credit equity investments and other real estate development solutions to over 550 clients in 2014, creating more than 13,000 housing units for individuals, families, seniors, students, veterans and other at-risk groups across the country.

City Real Estate Advisors, Inc. announced that Mike Boyle has joined the organization as Vice President of Acquisitions. Boyle will be responsible for identifying, structuring, and closing affordable housing equity opportunities with a focus on the Southeastern region of the United States.

Jerome “Jerry” Breed, Partner at Bryan Cave in the Washington, DC office, was recently elected Chairman of the Board of Directors of the National Housing & Rehabilitation Association (NH&RA) at its Annual Meeting in Key Largo, Florida.

Jerome “Jerry” Breed, Partner at Bryan Cave in the Washington, DC office, was recently elected Chairman of the Board of Directors of the National Housing & Rehabilitation Association (NH&RA) at its Annual Meeting in Key Largo, Florida.

Representatives from more than 100 of the nation’s top affordable housing organizations gathered at the Ocean Reef Club in Key Largo, FL, last week for the 2015 NH&RA Annual Meeting. The event’s panel sessions created dialogues on what’s challenging – and exciting – affordable housing developers, illuminated the products and people who will shape the tax credit transactions in upcoming year, offered options to properties approaching year 15, and surveyed key changes to tax credit programs and legislation.

NH&RA’s first-ever Public Housing Joint Venture Symposium offered attendees a unique opportunity to gain insight into the progress and updates to key HUD programs. More than 100 developers, syndicators, lenders, and other members of the affordable housing community gathered to voice their concerns and questions to HUD representatives, as well as connect with peer organizations who are working on similar issues.

WinnCompanies named Gilbert Winn as its new Chief Executive Officer. Gilbert succeeds former CEO Samuel Ross, who after 21 years of dedicated and valuable work at WinnCompanies announced his retirement at the end of 2014. Gilbert is the son of Albert Winn, Principal and Founder of WinnCompanies.

Nixon Peabody LLP elected three partners to its Tax Credit Finance & Syndication practice. The new partners are Nathan Bernard, Christopher Perkowski, and Katie Tenney.

The Community Development and Affordable Housing Fund, LLC, an investment fund sponsored by Candeur Group, received certification as a Community Development Financial Institution (CDFI) from the United States Treasury.

City Real Estate Advisors (CREA) announced the closing of $430 million in investor equity in 2014. Additionally, CREA raised $45 million from investors for transactions that will close in the first quarter of 2015.

Elevate Energy has joined forces with New Ecology to help affordable housing property owners and managers to reduce their property’s energy costs. They are offering free baselining services to multifamily affordable housing properties in Illinois, Missouri, Maryland, Rhode Island, and Pennsylvania, along with the Richmond, VA, Metro area.