Enterprise Community Partners, Inc. and the Washington State Housing Finance Commission (WSHFC) have partnered to create the Washington Green Communities Retrofit Loan Fund. Green Communities is a $2 million financing pool available to owners of multifamily affordable housing properties in the state. The average multifamily affordable housing property incurs more than $700 per unit in […]
Wisconsin’s Governor Jim Doyle awarded $360 million in affordable housing tax credits to fund affordable housing project developments across the state. The tax credits, which are distributed through the Wisconsin Housing and Economic Development Authority (WHEDA), will move forward 38 developments that will create 2,000 rental units. The credits are worth $36 million this year, […]
Google has entered an arrangement with Union Bank, N.A. to finance assisted housing in California. Union Bank’s Community Development Finance (CDF) division is syndicating and managing approximately $25 million in low-income housing tax credit (LIHTC) investments. The arrangement marks a rare entrance into the LIHTC market by a company outside of the financial services industry. […]
The criminal provisions of the Violence Against Women Act (VAWA) also cover conduct when the offender and victim are the same sex. That was the conclusion reached in a memo issued in April by U.S. Acting Assistant Attorney General David Barron. VAWA includes three criminal provisions—18 U.S.C. sections 2261, 2261A, and 2262—that were amended in […]
July 12 is the last day that HUD will be accepting comments on its proposal for a “Study of the Low-Income Housing Tax Credit (LIHTC) Program After 15 Years.” According to HUD, the LIHTC has become the federal government’s largest program subsidizing the development of affordable rental housing and has produced more than 1.8 million […]
HUD has added another requirement for grant applicants seeking HUD funds. Anyone applying for any competitively award grant program, including those slated for Fiscal Year 2010, now has to comply with state and local anti-discrimination laws that protect lesbian, gay, bi-sexual, and transgender (LGBT) individuals. Traditionally, HUD requires all applicants for competitive grant funding to […]
Great Lakes Capital Fund (GLCF), a preferred vendor of the Illinois BancService Corporation (IBC), has created the Illinois Community Fund Limited Partnership (ICF), a low-income housing tax credit (LIHTC) fund. GLCF and IBC will be marketing the fund to banks and corporations throughout Illinois. Its mission is to target investments in high-quality, safe, and affordable […]
Capital One Bank has marked a significant investment in the Dallas community through a collaborative financing effort to fund The Village at Lakewest, a new development for low- and moderate-income seniors in Dallas. The Village, which opened earlier this year, consists of 360 units, a community center, a private dining area for family events, a […]
Security Properties has acquired the general partner and majority interests in the ownership of Diamond at Prospect, a 140-unit multifamily property in Denver, Colo. Built in 2005 by an affiliate of Trammell Crow Residential and financed in part under the low-income housing tax credit (LIHTC) program, the property becomes the latest addition to the Seattle-based […]
Facts: The resident of a two-bedroom unit at a Detroit, Michigan low-income housing tax credit property sued the site owner, alleging discrimination based on her disability. The resident did not specify what her disability was, nor did she provide any documentation supporting her disability claim. But she mentioned in her complaint that she had a […]
