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Businesses love to talk about employee engagement. In fact, an increasing number of businesses see employee engagement as an essential strategy for achieving their goals. Current attempts to engage employees take many forms, including volunteer programs, competitions, cash incentives, games, and giveaways, as well as award and recognition programs. http://blog.rmi.org/blog_2014_07_03_engaged_employees_and_sustainable_buildings

On a recent trip to Australia, I noticed that very few residential solar systems are leased. The vast majority are customer owned. Talking to industry experts, some claimed more than 90 percent of residential solar systems in Australia are customer owned. This is in stark contrast to the U.S., where last year 66 percent of […]

Preparing for another winter is not something we want to think about while basking in the last days of summer but it pays to plan! The Farmer’s Almanac forecast was spot on last winter and it looks like a cold winter is in store for many of us in 2014. Preparing for colder temperatures is […]

Community Development Financial Institutions Fund (CDFI Fund) will be holding a webinar on the CDFI Information Mapping System (CIMS3) for New Markets Tax Credit (NMTC) program participants.

Community Development Financial Institutions (CDFI) Fund has issued a call for well-qualified personnel to serve as application Reviewers and Alternates for the 2014 round of the New Markets Tax Credit (NMTC) program.

FHA Commissioner Carole Galante recently announced she will leave her role as HUD’s Assistant Secretary for Housing and FHA Commissioner in the fall. In January, she will assume the I. Donald Terner Distinguished Professorship in Affordable Housing and Urban Policy at the University of California, Berkeley, and will also serve as the Director of the Berkeley Program in Housing and Urban Policy and co-chair the Fisher Center on Real Estate Policy Advisory Board.

The Internal Revenue Service (IRS) recently released Notice 2014-46, further clarifying Notices 2013-29 and 2013-60, regarding (i) how to satisfy the Physical Work Test and (ii) the effect of various types of transfers with respect to a facility after construction has begun. The Notice also modifies the application of the five percent Safe Harbor. Notice 2014-46 clarifies that a fully- or partially-developed facility may be transferred without losing its qualification under the Physical Work Test or the Safe Harbor for purposes of the PTC or the ITC.

The Government Accountability Office (GAO) recently released a new report that addresses the complex financial structures of New Markets Tax Credit (NMTC) transactions. The report questions whether combining multiple federal, state, or local subsidies is unnecessarily duplicative and whether the complexity of such structures are masking higher rates of return for NMTC investors.

A recent memo released by HUD dated August 7, 2014, addresses the use of a lender ordered MAP appraisals in lieu of a separate Rent Comparability Study (RCS) for Mark-Up-To-Market transactions. The Department plans to change the current RCS guidelines upon publication of the long awaited updated Section 8 Renewal Policy Guide to allow for the use of a lender ordered MAP appraisal that will serve a dual purpose; serving as an RCS and for use in underwriting an application for HUD mortgage insurance.

The Community Development Financial Institutions (CDFI) Fund recently released the Notice of Allocation Availability (NOAA) to open the next allocation round for the New Markets Tax Credit (NMTC) program. The NOAA makes $5 billion in tax credit authority available for the calendar year (CY) 2014 round.

The National Council of Affordable Housing Market Analysts’ (NCAHMA) has adopted a series of documents,  including three cornerstone documents: the Model Content Standards for Market Studies for Rental Housing , the Market Study Index, and the Code of Ethics and Standards of Professional Practice. These fundamental and comprehensive documents are supplemented by several White Papers and […]

Representative Pete Gallego (D-TX) recently introduced H.R. 5198 to amend Section 42(d)(5) of the Internal Revenue Code of 1986 to provide an appeal process  for designation as qualified census tracts (QCTs) and difficult development areas (DDAs) under the Low-Income Housing Tax Credit (LIHTC) program. This legislation would allow any State or local government agency to […]