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NALHFA Appoints Jonathan M. Paine Executive Director

Posted By Administration, Thursday, July 13, 2017
[Washington, DC] The Board of Directors of the National Association of Local Housing Finance Agencies (NALHFA) has announced the appointment of Jonathan M. Paine, CAE, as its executive director effective June 30, 2017. Paine has been serving as the Interim Executive Director since February 6 replacing Marc Selvitelli, who left the association to pursue another career opportunity. Read more.

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How Can Issuers of Municipal Bonds Use EMMA?

Posted By Administration, Wednesday, July 5, 2017

Electronic Municipal Market Access, or EMMA, is the official repository for information on virtually all municipal bonds, providing free access to official disclosures, trade data and other information about the municipal securities market. The Municipal Securities Rulemaking Board (MSRB) has two videos available to inform issuers about how to use EMMA. Click below to access these helpful videos featuring NALHFA Board of Directors member Richard Froehlich, who also serves on the MSRB Board. 

 

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NALHFA Plans for Housing Day of Action on July 29

Posted By Administration, Monday, June 12, 2017

 

Call for Greater Federal Investments in Affordable Housing

 

[Washington, DC - 6/12/2017] - The Campaign for Housing and Community Development Funding (CHCDF) and the National Association of Local Housing Finance Agencies, along with other state, local, and national leaders call on advocates, elected officials, and concerned citizens will participate in the Our Homes, Our Voices day of action on July 29 to bring more attention to America's affordable housing crisis. Coordinated activities will be held in cities across the nation to call for a greater investment in affordable homes and community development.

 

All people deserve an affordable home, and no one should be forced to give up food and basic healthcare to keep a roof over their heads. When we invest in affordable homes, we invest in people, our communities, and America as a whole - from increased employment and economic mobility to improved health and better education.

 

Yet, far too many families - including low income seniors, people with disabilities, veterans, and families with children - struggle to keep a roof over their heads. Nationwide, more people are renting their homes than ever before. But our investments in affordable housing have not kept pace. Today, three out of four families in need of federal housing assistance are turned away due to a lack of funding. As a result, millions of people do not have an affordable place to call home and half a million people live on the street, in shelters, or in their cars on any given night. Every state and community is impacted.

 

This year, federal investments in affordable housing face significant budget threats. In the name of deficit reduction, Congress has put in place low spending caps that starve low income families and communities of the resources they need to thrive. President Trump has proposed even deeper cuts in 2018, which would slash federal investments in affordable housing by $7.4 billion or 15%. Instead of reducing our nation's investments in affordable housing, we should make a bold and sustained commitment to ensure that everyone has a safe, accessible and affordable home. This starts with Congress rejecting the President's 2018 budget proposal, lifting the spending caps equally for defense and domestic programs, and fully investing in affordable housing resources that help low income families keep a roof over their heads.

 

"President Trump's budget proposal would be catastrophic to local governments that rely on this funding for affordable housing," said NALHFA Interim Executive Director, Jonathan Paine. "The country is in a serious affordable housing crisis and there is a great need to highlight the importance of government investment in affordable housing infrastructure. The Our Homes, Our Voices day of action will be an exceptional way for communities across the nation to emphasize the necessity of affordable housing investment."

 

Organizations, elected officials, and individuals who would like to participate in the Our Homes, Our Voices day of action should contact hvoorman@nalhfa.org

 

The following national, state, and local organizations are partners for Our Homes, Our Voices: The National Low Income Housing Coalition, B'nai B'rith International, Council of Large Public Housing Authorities, Enterprise Community Partners, Habitat for Humanity, Housing Assistance Council, National Alliance to End Homelessness, National Association of Local Housing Finance Agencies, National Law Center on Homelessness & Poverty, National Network to End Domestic Violence, New York Housing Conference, Washington Low Income Housing Alliance

 

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NALHFA Washington Briefing Webinar (Members Only)

Posted By Administration, Monday, May 22, 2017
Thursday, June 15 
2:00 pm Eastern

  
Register today for NALHFA's Washington Briefing Webinar, part one of NALHFA's new educational webinar series for members only. 

Since 1982, NALHFA has been promoting, protecting and advancing the legislative and regulatory interests of local housing government agencies and providing leadersh ip in the field of affordable housing finance. The NALHFA Government Relations team is proud to represent the industry's interests and share with you the latest from Washington DC on a variety of topics ranging from tax reform to the federal budget and its potential impact on the affordable housing financing community. The team will also be taking your questions and look forward to hearing directly from you what you see as key priorities for the industry as well.

 

This Washington Briefing webinar is a terrific new member benefit, so don't miss out, register today! 

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NALHFA Celebrates Infrastructure Week

Posted By Administration, Monday, May 22, 2017
Why Affordable Housing Infrastructure Matters  

It's infrastructure week and across America its #TimeToBuild! Infrastructure week is a national week of education and advocacy that brings together organizations, businesses, local governments, workers, elected leaders, and community members to focus on our nation's infrastructure needs. A piece of the infrastructure puzzle that is often left out is affordable housing.  Affordable housing is a vital component to infrastructure investment, and the construction and preservation of our country's affordable housing stock will strengthen productivity and economic growth, promote economic mobility, and will support job creation and increased incomes. Read more.
 

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Housing Credit Program Remains a Successful Affordable Housing Tool

Posted By Administration, Monday, May 22, 2017
[Washington, DC - 5/12/2017] - The Low Income Housing Tax Credit (LIHTC) program is widely regarded as the most successful tool available for boosting private investment in the development and preservation of affordable housing in the United States. The program gives state and local allocating agencies the equivalent of approximately $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, and new construction of rental housing targeted to lower-income households. With these funds, approximately 14 million low-income people have lived in affordable housing apartments financed by LIHTC since the program began in 1986. Furthermore, the program annually generates 96,000 jobs and $3.5 billion in taxes and other revenue for local economies. Read more.

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NALHFA Member Spotlight: The Low Income Housing Tax Credit Program

Posted By Administration, Wednesday, May 10, 2017

Over the last 30 years, the Low Income Housing Tax Credit (LIHTC) program has developed or preserved virtually all of the affordable rental housing in the United States. Widely regarded as the most successful affordable housing production and preservation program in the nation's history, the program givesstate and local allocating agencies the equivalent of approximately $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, and new construction of rental housing targeted to lower-income households. With these funds, approximately 14 million low-income people have lived in affordable housing apartments financed by LIHTC since the program began in 1986. Furthermore, the program annually generates 96,000 jobs and $3.5 billion in taxes and other revenue for local economies.

 

The LIHTC program is a critical tool in combating the country's affordable housing crisis and has helped millions of families across the nation. Numerous NALHFA members have used LIHTC to help fund innovative, state-of-the-art affordable housing projects in their communities. As part of our Member Spotlight series, this month NALHFA will be showcasing several successful member projects that utilized this essential funding source.

 

Be sure to follow NALHFA on Facebook, Twitter, and LinkedIn to see the rest of our member spotlights this month!

 

Low Income Housing Tax Credit Member Spotlight:

Westgate Apartments

Housing Finance Authority of Palm Beach County, Florida


The Housing Finance Authority of Palm Beach County, Florida is a proud participant in the financing of the "Westgate Plaza" apartments in suburban West Palm Beach.The recently constructed seniors' rental apartment community was developed by Landmark Development Corporation, Miami, Florida together with co-partner Palm Beach County Housing Authority which provided Section 8 vouchers for all 80 units.The $16M project was a public/private partnership involving the Authority which issued $7.5M of tax exempt bonds purchased by Citibank NA, a $6.1M loan of Neighborhood Stabilization Program 2 funds from Palm Beach County, and equity from the syndication of 4% low income housing tax credits. The four-story complex includes 56 one-bedroom units and 24 two-bedroom units; twenty units are reserved for seniors with incomes no greater than 30 percent of AMI and 24 apartments are reserved for seniors with incomes no greater than 50 percent of AMI.The apartments contain energy-efficient appliances and impact-resistant windows and doors, with connections for cable television and Internet service. Four of the units are completely designed to meet Uniform Federal Accessibility Standards and include wider doorways and larger spaces to accommodate persons using mobility assistance devices,roll-in showers with grab bars, lowered counter tops and open counter bases, and appliances with front control knobs. Westgate Plaza amenities include a computer lab, library, fitness room, club room, and a pavilion with picnic tables and barbecue grills.

 

 

The Yards D (Twelve 12 Apartments)

District of Columbia Housing Finance Agency

 

The Yards D Building is a newly-constructed mixed-income/mixed use building located at 1212 Fourth Street, SE in the District of Columbia. The building contains 219 rental units of which 175 are market rate and 44 are affordable. The project is one component in the transformation of a former US Naval industrial complex known as The Southeast Federal Center (SEFC). This transformation reflects significant investment in infrastructure by the District government in support of a development agreement between Forest City Washington, the Sponsor, and the federal government (GSA) for 2,800 residential units, 1.8 million square feet of office space, 300,000 square feet of retail, and a large outdoor park along the Anacostia River.

 

Yards D is a single building, legally fragmented by use, and financed in-part by the DC Housing Finance Agency (DCHFA). The DCHFA-funded portion of the development consists of forty-four (44) units of affordable housing, financed through tax-exempt bonds and equity raised through the syndication of 4% low income housing tax credits. The balance of the development was separately financed through the allocation of New Market Tax Credits from Forest City Washington. Sitting less than a mile from the U.S. Capitol building, and in the midst of incredible economic growth, The Yards D could have represented yet another episode in the story of the widening economic gulf in the District of Columbia. Instead, it is an example of how creative financing, as well as private/public commitment, can help to create an environment of economic inclusion.


Winnemucca Senior Campus - Larios Arms Senior Residences

Nevada Rural Housing Authority


The Nevada Rural Housing Authority, City of Winnemucca, Humboldt County, Humboldt Development Authority, and the local Senior Center joined a successful partnership to not only revitalize an older residential neighborhood, but to provide low income housing and amenities for fixed income seniors through two low income housing tax credit funds, a USDA-RD MRP loan, and local donations and grants to infuse the rehab of the community's aging senior center.The Winnemucca Senior Campus features 80 units of Senior housing ranging from 60% AMI and lower (including the rehabilitation of a 20 unit, 31-year-old complex), an expanded senior community building with increased parking, and a campus that adds landscape, gardening, walking path and park-style amenities to help foster these senior residents' lifestyles. This transformed neighborhood has helped correct a housing burdened senior population and has created an updated, amenity filled community concept that the Nevada Rural Housing Authority can use for future campus projects.

 

Do you have a successful LIHTC project you'd like to share? Let us know! Send your stories to hvoorman@nalhfa.org and we will use them to promote the LIHTC program on Capitol Hill. You may also be featured in an upcoming NALHFA Member Spotlight!


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NALHFA Member Spotlight: The Low Income Housing Tax Credit Program

Posted By Administration, Friday, May 5, 2017
The Low Income Housing Tax Credit (LIHTC) program has been one of the most successful tools for boosting private investment in the development and preservation of affordable housing in the United States. The LIHTC program was created by the Tax Reform Act of 1986, and since then has given LIHTC state and local allocating agencies the equivalent of approximately $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, and new construction of rental housing targeted to lower-income households. With these funds, approximately 6.5 million low-income households have lived in affordable housing apartments financed by LIHTC from 1986 to 2013. 

The LIHTC program is a critical tool in combating the country's affordable housing crisis and has helped millions of families across the nation. Numerous NALHFA members have used LIHTC to help fund innovative, state-of-the-art affordable housing projects in their communities. As part of our Member Spotlight series, this month NALHFA will be showcasing several successful member projects that utilized this essential funding source. Read the full story here. 

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NALHFA Honors Ernestine Garey with Lifetime Achievement Award

Posted By Administration, Thursday, May 4, 2017
[Washington DC - 5/4/2017] It is not often that NALHFA gets the chance to recognize one of its own for their contributions to the association. For just the third time in its history NALHFA honored Ernestine Garey with its Lifetime Achievement Award on Thursday, April 27 at its annual conference held in San Francisco.  The award is given in recognition of those individuals who have gone above and beyond the call of service to the local housing finance industry and who have devoted significant time, energy and effort toward creating and achieving the strategic initiatives of NALHFA, and who are distinguished in their selflessness and vision for both NALHFA and the industry as a whole. Read full story.

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NALHFA Announces Leadership Team for 2017-2018

Posted By Administration, Wednesday, May 3, 2017

[San Francisco - 4/27/2018] - The National Association of Local Housing Finance Agencies (NALHFA) is pleased to announce that its 2017-2018 leadership team was installed today at the associations' Annual Conference in San Francisco, CA. At the annual business meeting and luncheon, the NALHFA membership reelected Ron Williams, Executive Director for the Southeast Texas Housing Finance Corporation as the association's 2017-2018 President. Read full story.

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