Working in partnership with the city’s Office of Housing, Seattle Housing Authority has made available 50 project-based rental vouchers to qualified nonprofit organizations. The vouchers will make it possible for selected organizations to offer housing units to extremely low-income residents—those with incomes below 30 percent of median income—for 40 years. “These vouchers are part of […]
California State Treasurer Bill Lockyer announced that his state has awarded $146.9 million in tax credits to affordable housing projects, which will create more than 4,862 units for low-income households. The state also awarded $49 million in federal stimulus money to affordable housing projects. The California Tax Credit Allocation Committee, chaired by Lockyer, approved the […]
HUD announced the availability of $20 million to help convert multifamily projects into assisted living facilities for low-income seniors. The funding is being offered through HUD’s “Assisted Living Conversation Program” (ALCP). Private nonprofit owners of eligible multifamily assisted housing developments specified in section 683(2)(B), (C), (D), (E), (F), and (G) of the Housing and Community […]
HUD has published a Federal Register Notice seeking comments on a proposal to end its policy of maintaining Section 8 income limits at the previously published level in cases where they would otherwise decrease. HUD adopted this “hold-harmless” policy to ensure that the Multifamily Tax Subsidy Projects (MTSPs) would not be subject to income-limit decreases. […]
New York Congressman Charlie Rangel called on Baruch Singer, landlord of Harlem-based Gloria Harding Apartments since 2006, to renew the project-based Section 8 contract he has for the 113-unit building complex. Over the past year, Rangel has worked with residents and reached out to Singer to encourage him to explore various options with HUD, including […]
The Texas Department of Housing and Community Affairs (TDHCA) was given the okay by a U.S. district court judge to go ahead with the way it had been promoting investment in low-income housing developments. The suit, which was brought by nonprofit group Inclusive Communities Project, Inc., alleged that the agency was disproportionately allocating tax credits […]
In its first joint effort, members of the Affordable Rental Housing (A.C.T.I.O.N.) (A Call to Invest in Our Neighborhoods) Campaign met with Capitol Hill staff members to discuss industry consensus proposals included in a letter recently sent to urge Congress to enact proposed changes to the low-income housing tax credit in upcoming tax legislation. The […]
In 2008, Hollybrook Farms in Laurel, Delaware, received a variety of public and private financing to complete the extensive renovation of the aging community. The majority of financing was in the form of private equity raised from the sale of federal low-income housing tax credits (LIHTC). In May 2009, while the renovations were 58 percent […]
Ten years after Chicago began a systematic overhaul of its distressed public housing, the fate of residents differs starkly depending on where they live, according to a recent report released by Business and Professional People for the Public Interest (BPI). BPI’s “The Third Side: A Mid-Course report on Chicago’s Transformation of Public Housing” praises the […]
Committed to creating and maintaining affordable housing for seniors and families, Speaker of the House Nancy Pelosi joined residents in celebrating the preservation of 245 affordable apartments at Nihonmachi Terrace in San Francisco. The seven-building property is currently undergoing $25 million in renovations that will include energy-efficiency enhancements and structural improvements. The rehab is scheduled […]
