Multi-Family Finance

congress-capitol

Registration Is Now Open For NH&RA Boston Developers Forum

NH&RA pleased to announce we will be returning to the Taj Hotel (formerly the Ritz-Carlton) for our Annual Boston Fall Developers Forum November 2-3, 2009. This is a can’t miss event for developers and affordable housing professionals looking to get the latest updates on state-of-the-art transactions and breaking news from the Congress, HUD and HFAs.
Online registration is now open and the hotel is taking reservations at our group rate. Click here to register online.

HUD

HUD Mortgagee Letter Encourages the Use of Housing Tax Credits with FHA-Insured Loans

The Law Firm Nixon Peabody LLP recently issued an Affordable Housing Alert on a recent HUD Mortgagee Letter. The letter implements changes to facilitate using Low-Income Housing Tax Credits with FHA loans.

NH&RA News

U.S. Treasury Modifies Credit Exchange Program Deadline

In a key development, the U.S. Treasury Department has modifies original deadline for disbursement of low-income housing tax credit exchange program (Section 1602) funds by state housing credit agencies to assisted projects. The law requires that state agencies return to Treasury any funds they receive that are not used to make subawards before January 1, 2011.

congress-capitol

CEFAH Update: House Passes Climate Change Legislation; Includes A Number of Retrofitting Provisions

The US House of Representative passed the American Clean Energy and Security Act of 2009 (HR 2454) on June 26th. This far reaching climate change legislation includes an important section on building energy retrofits (Section 202). Additionally, the legislation incorporates Representative Ed Perlmutter’s (D-Colo.) Green Resources for Energy Efficient Neighborhoods (GREEN) Act (Subtitle H).

HUD

Fannie Mae, Freddie Mac Overseer to Resign Post

Fannie Mae and Freddie Mac’s regulator, James Lockhart III plans to leave the job by the end of August 2009.

NH&RA News

NMHC Releases Quarterly Survey of Apartment Market Conditions

The National Multi Housing Coalition (NMHC) has released the results of its Quarterly Survey of Apartment Market Conditions.

congress-capitol

Summer Institute Recap

Thanks to everyone that made the 2009 Summer Institute a great success! We were blown away by all of the compliments about the quality of the program and networking. I especially want to thank all the great speakers! Its not every day that so many industry leaders and innovators can come together to share ideas and innovations. In such a tough business environment it was inspirational to see how our members are creating new opportunities to close transactions. If you didn’t make out to Vermont here are a few things that you missed…

NH&RA News

Build America Bonds: A New Tool to Finance Government-Owned Affordable and Workforce Home

Tax Credit Advisor ““ August 2009 ““ These new kinds of taxable bonds, authorized by the American Recovery and Reinvestment Act of 2009, are designed to assist issuers and developers unable to sell tax-exempt bonds to finance new public-purpose projects.

HUD

HUD Permits Waivers for Section 223(f) Projects

The U.S. Department of Housing and Urban Development has issued a new notice (H 09-08) that gives HUD Multifamily Hub Offices temporary authority to grant waivers of the standard “three-rule rule” for projects applying for HUD Section 223(f) multifamily mortgage insurance.

HUD

HUD Issues Notice, Mortgagee Letter on 2008 Housing Credit Amendments

The U.S. Department of Housing and Urban Development (HUD) on July 29 issued new guidance to further clarify and ease the use of FHA multifamily mortgage insurance for projects that utilize low-income housing tax credits or tax-exempt financing.

congress-capitol

2009 Summer Institute & NMTC Symposium: Presentations Now Available!

The National Housing & Rehabilitation Association is pleased to announce that it has made available the PowerPoint presentations displayed during the recent 2009 Summer Institute & Pre-Conference Symposium on New Markets Tax Credits, held July 29 – August 1, 2009 in Woodstock, Vermont.

Wisconsin

Wisconsin Announces Multifamily Weatherization Program

Wisconsin Governor Jim Doyle has announced that funds from the American Recovery and Reinvestment Act will be used for a new program to weatherize large, multifamily buildings. The new program aims to weatherize approximately 3,000 units in apartment buildings across the state over the next two years, reducing energy use and creating jobs.

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