Print Page   |   Contact Us   |   Sign In   |   Register
Community Search
NALHFA News
Blog Home All Blogs
Search all posts for:   

 

Top tags: Member Spotlight  Housing Finance Update  NALHFA  Facebook  new members  Twitter  welcome 

NALHFA Welcomes Stifel

Posted By Administration, Wednesday, May 16, 2018

The National Association of Local Housing Finance Agencies (NALHFA) announced today that Stifel is its newest member.

 

NALHFA is the leading local affordable housing advocate, influencing the shape and content of congressional legislation and agency regulations affecting the affordable housing finance industry.

 

Stifel provides financing alternatives to state and local housing finance agencies, for-profit developers, and 501(c)(3) corporations seeking taxable or tax-exempt funding for housing projects that serve low- and moderate-income families. A national leader in publicly offered, multifamily housing bond-financed projects, Stifel offers comprehensive investment banking services, in-depth housing sector knowledge, and expansive distribution channels.

 

The Stifel affordable housing team has experience in a wide range of debt alternatives, including public bond offerings and private placements that utilize fixed and/or variable rates for new construction, acquisition, rehab, and refinancing. Stifel’s business contacts in this specialty sector of municipal finance encompass a highly experienced national network of tax credit providers, credit enhancement sources, investors, lawyers, lenders, and other professionals. Stifel’s experience, industry knowledge, professional associations, and contacts combine to provide value in helping clients achieve the best possible results.

 

In 2017, Stifel ranked No. 1 nationally with 69 multifamily housing transactions closed and No. 2 in total par amount with $1,088.8 million in multifamily housing transactions closed.  (Source: Thomson Reuters SDC as of January 1, 2018, senior managed negotiated transactions allocated to book runner.)

 

“Stifel is excited to join NALHFA because two-thirds of the issuers that used Stifel to underwrite housing bonds in 2017 were either local HFAs or local municipal conduit issuers. We look forward to working with NALHFA and its members by issuing many of the housing bonds that finance affordable multifamily housing throughout the country,” said John Rucker, head of Stifel’s Public Finance Housing Group.

 

For more information on Stifel, click here.

This post has not been tagged.

Permalink
 

NALHFA Announces Leadership Team for 2018-2019

Posted By Administration, Friday, May 11, 2018

The National Association of Local Housing Finance Agencies (NALHFA) is pleased to announce that its 2018-2019 leadership team was installed yesterday at the association's Annual Conference in New Orleans, LA. At the annual business meeting, the NALHFA membership elected Richard Froehlich, Executive Vice President and General Counsel of the New York City Housing Development Corporation as the association's 2018-2019 President.

 

"Throughout the past year NALHFA has proven its effectiveness in representing the interests of the local housing finance industry and its members," said Froehlich. "Following recent tax legislation and continued uncertainty over HUD funding it is essential that our voice is heard in Washington DC. NALHFA will continue to be a leader in the fight to preserve and enhance federal affordable housing resources."

 

"I look forward to working closely with Rich as we are both deeply committed to moving NALHFA forward, growing membership, and advancing the regulatory and legislative priorities of the association," said NALHFA Executive Director Jonathan Paine. "His experience and commitment to the industry will certainly help drive NALHFA forward as we work to become an even better advocate for the industry." 

 

In addition to Froehlich, the other members of the 2018-2019 NALHFA Executive Committee are:

  • Vice President: Dawn Luke, COO, Invest Atlanta (Atlanta, GA)
  •  Treasurer: Vivian Benjamin, Assistant Director, Mortgage Finance Division, Montgomery County Housing Opportunities Commission (Kensington, MD)
  • Secretary: Tom Cummings, Director, Department of Housing, Urban Redevelopment Authority of Pittsburgh (Pittsburgh, PA)
  • Immediate Past President: Ron Williams, Executive Director, Southeast Texas Housing Finance Corporation (Houston, TX)

This post has not been tagged.

Permalink
 

NALHFA Honors Olson Lee with Lifetime Achievement Award

Posted By Administration, Friday, May 11, 2018

NALHFA honored Olson Lee with its Lifetime Achievement Award on Thursday, May 10 at its annual conference held in New Orleans. 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.

 

"I was proud to have the opportunity to present Olson Lee with NALHFA’s Lifetime Achievement Award," said Adam Cray, NALHFA Board Member. "Olson has made an incredible impact on San Francisco. The projects and programs he’s overseen during his career have helped thousands of San Franciscans in need find a place to call home. He is a credit to our profession and an inspiration to us all."

 

Olson Lee is the former Director of the San Francisco Mayor’s Office of Housing and Community Development (MOHCD) and a long-time member of NALHFA’s Board of Directors. After serving the people of San Francisco for more than 25 years, Olson retired from his positions at MOHCD and NALHFA in June of 2017.

 

As Director of MOHCD for six years, Olson led the office that guides and coordinates San Francisco’s housing and community development policy, provides financing and other support for affordable housing development and rehabilitation, works to ensure the long-term affordability and physical viability of the City's affordable housing portfolio, and supports community partners in their efforts to strengthen San Francisco’s neighborhoods. During Olson’s tenure, MOHCD facilitated the development or rehabilitation of more than 7,500 affordable housing units at nearly 100 projects throughout San Francisco and provided $2.5 billion of tax-exempt financing for multifamily housing.

 

Before joining MOHCD, Olson served as Deputy Executive Director of the San Francisco Redevelopment Agency. During his career, Olson served on several boards and committees for affordable housing organizations, including the Board of Directors of the California Association of Local Housing Finance Agencies and the Loan Committee and Board of Directors of the Northern California Community Loan Fund. Olson was a founding member of NALHFA and served for over 20 years on NALHFA’s Board of Directors. Olson was recognized in 2003 for his work preserving at-risk affordable housing with a Public Managerial Excellence Award from the Municipal Fiscal Advisory Committee. In 2010, he received the Distinguished Public Official Award from the Non-Profit Housing Association of Northern California.

This post has not been tagged.

Permalink
 

ProLink Solutions Joins NALHFA

Posted By Administration, Monday, May 7, 2018

WASHINGTON, DC – The National Association of Local Housing Finance Agencies (NALHFA) announced today that ProLink Solutions is its newest member.

 

NALHFA is the leading local affordable housing advocate, influencing the shape and content of congressional legislation and agency regulations affecting the affordable housing finance industry.

 

ProLink Solutions is a software company that enables the real estate finance industry to efficiently allocate capital, manage assets, and maintain compliance. They apply industry-leading technology and expertise to automate business processes and improve data accessibility.

 

ProLink specializes in orchestrating the workflow and business processes of their clients by developing tailored software based on the ProLink Framework. Their team is experienced in providing solutions for enterprise investment management in multiple industries, including Housing Finance Agencies, community development corporations, and international real estate companies.

 

“ProLink has been supporting housing finance agencies for about 20 years now, which is why we are so excited to become a member of NALHFA. It is in our mission to help our clients find efficiencies to optimize their work in order to provide more affordable housing, and we believe that our relationship with NALHFA will help us advance in our mission,” said Shawn McKenna, CEO & President of ProLink Solutions. “We are excited to begin our relationship at the upcoming conference in New Orleans, and begin learning more from the industry leaders that make up this great organization.”

 

For more information on the ProLink Solutions, click here.      

 

For more information about NALHFA and how to join, click here.

This post has not been tagged.

Permalink
 

HCGA Consulting Partners Joins NALHFA

Posted By Administration, Monday, April 30, 2018

WASHINGTON, DC – The National Association of Local Housing Finance Agencies (NALHFA) announced today that HCGA Consulting Partners is its newest member.

 

NALHFA is the leading local affordable housing advocate, influencing the shape and content of congressional legislation and agency regulations affecting the affordable housing finance industry.

 

HCGA Consulting Partners is a Strategic Talent Acquisition & Retention Solutions firm based in metropolitan New York City area with affiliate offices in Washington, DC, founded and focused on providing custom solutions and distinguished service to its clients. HCGA specializes in providing retained executive search, retention, succession planning and leadership advisory services to the Affordable Housing & HFA, Association & Non-Profit, Healthcare, middle markget growth company sectors.

 

Within the affordable housing & HFA sector, HCGA has made successful placements, helped build executive leadership teams and provided leadership advisory services to clients in Colorado, Connecticut, Iowa, Wyoming, California, District of Columbia, South Carolina, as well as, CSG Advisors. Tracy McMillan, HCGA Managing Partner, has been a frequent speaker at industry events and is slated to speak at the upcoming May 9th – 12th NALHFA Annual Conference in New Orleans.

 

“After having built and cultivated such a mutually beneficial relationship with the NCSHA and its members over the years, it made good strategic sense to turn our attention to NALHFA,” said Tracy McMillan. “We live in an era where local and regional HFAs experience the same leadership succession, talent acquisition and retention challenges as that faced by State Housing Authorities and other non-profit organizations. Accordingly, we have begun to forge relationships with Jonathan Paine, NALHFA Board members and Staff and are excited about advancing and growing the relationship with NALHFA members in the months and years to come, beginning with the NALHFA Annual Conference in New Orleans.”

 

For more information on HCGA Consulting Partners, click here.   

  

For more information about NALHFA and how to join, click here.  

This post has not been tagged.

Permalink
 

HUD Proposes Increased Rents, Work Requirements for HUD-Assisted Households

Posted By Administration, Friday, April 27, 2018

This week the Department of Housing and Urban Development (HUD) released proposed legislation that would increase rents, eliminate deductions for medical and childcare expenses and allow housing providers to implement work requirements on tenants served by public housing, Housing Choice Vouchers, and Section 8 Project-Based Rental Assistance. The current law requires most HUD-assisted households to pay 30 percent of their adjusted income on rent and a minimum rent of $50 per month, even if it’s more than 30 percent of the household’s monthly income. HUD’s proposal requires most families to pay either 35 percent of their gross income or a minimum of $150 per month, whichever is higher. Under HUD’s proposal, the lowest income households would pay three times more than they currently do on rent. 

 

These families would also lose the ability to take income deductions for medical and childcare expenses, which would also raise rents for households with high costs in these areas. The bill would allow for hardship exemptions, but HUD has yet to certify that Public Housing Authorities (PHAs) and housing providers are complying with hardship exemptions, a requirement of the Housing Opportunity Through Modernization Act of 2016.

 

Elderly and disabled households would also see rent increases. Under the Section 202 Housing for the Elderly and Section 811 Housing for Persons with Disabilities programs, families with an elderly or disabled head of household would pay 30 percent of the household’s monthly gross income or $50 minimum in rent, whichever is greater. Currently, elderly households are required to pay a minimum of $25 per month and disabled households do not have a minimum requirement. The bill also raises the age of an elderly household from 62 to 65. Seniors currently over the age of 65 and individuals with disabilities would be exempt from rent increases for the first six years.

 

The proposal additionally allows PHAs and housing providers to establish alternative rent structures and minimum work requirements for households. The rent structures could include tiered rents, calculating rents based on different income brackets; stepped rents, increasing rents systematically overtime; and timed escrow. These alternative structures could increase rents on low-income households. The work requirements could be applied to households or individuals, excluding elderly and disable households. The Secretary would set a maximum number of hours permitted in work requirement arrangements as well as the types of work and employment activities that would satisfy work requirements. It is estimated that currently 9 in 10 HUD-assisted households are elderly, disabled, working or receiving Temporary Assistance for Needy Families (TANF).

 

Next Steps

Since the legislation is a proposal from HUD, it would ultimately have to be approved by Congress. The proposal has not yet been introduced in Congress, and it is anticipated that if and when it is, it will be faced with harsh criticism. There is currently similar legislation being circulated by Rep. Dennis Ross, R-FL, but this bill also has yet to be introduced.

 

Take Action

Sign onto the national letter in opposition to any attempt to cut housing benefits for America's lowest income households. Click here to sign on! Please contact NALHFA Policy Director, Heather Voorman at hvoorman@nalhfa.org with questions and stay tuned to NALHFA Legislative Alerts for more information and advocacy opportunities regarding this proposal. 

This post has not been tagged.

Permalink
 

NALHFA Welcomes Jefferies as a New Member

Posted By Administration, Tuesday, April 24, 2018
WASHINGTON, DC – The National Association of Local Housing Finance Agencies (NALHFA) announced today that Jefferies LLC is its newest member.
 
NALHFA is the leading local affordable housing advocate, influencing the shape and content of congressional legislation and agency regulations affecting the affordable housing finance industry.
 
Jefferies, the world's only U.S.-headquartered independent full-service global investment banking firm focused on serving clients for over 50 years, is a leader in providing insight, expertise and execution to investors, companies and governments. The firm provides a full range of investment banking, sales, trading, research and strategy across the spectrum of equities, fixed income and foreign exchange, as well as wealth management, in the Americas, Europe and Asia.
 
Jefferies LLC’s parent company, Leucadia National Corporation, is also a 50% owner of Berkadia, a market leading mortgage lender and servicer focused on multifamily rental housing.
 
In 2016 Jefferies LLC created the Public Finance Housing Group focused on affordable housing and the financing needs of local and state housing finance agencies. Over the course of the last two years, the Public Finance Housing Group has partnered with housing finances agencies across the country to deliver capital for homeownership as well as development and preservation of affordable rental housing.
 
 “Jefferies is delighted to be a member of NALHFA and looks forward to continuing to work with housing finance agencies to further their goals and expand support for affordable housing creation throughout the country”, said Alan Jaffe, Managing Director and Head of the Public Finance Housing Group. “Along with our colleagues at Berkadia, we will continue to deliver the most efficient capital solutions for our clients”.
 
For more information on the Jefferies, visit click here .   
 
For more information about NALHFA and how to join, click here .

This post has not been tagged.

Permalink
 

Denton Housing Authority Joins NALHFA

Posted By Administration, Thursday, April 5, 2018

WASHINGTON, DC – The National Association of Local Housing Finance Agencies (NALHFA) announced today that Denton Housing Authority is its newest member.

 

NALHFA is the leading local affordable housing advocate, influencing the shape and content of congressional legislation and agency regulations affecting the affordable housing finance industry.

 

The Denton Housing Authority (DHA) is committed to transforming DHA into a premier housing authority through honest and effective leadership by providing quality affordable housing and promoting programs that foster economic independence to enhance the lives of our clients and enrich our community.

 

DHA owns and/or operates 314 affordable housing units at three locations throughout the City of Denton, and have another 322 unit multifamily development under construction, utilizing tax credit and bond financing. Additionally, the agency administers 1,536 Housing Choice Vouchers (HCV) throughout Denton County. DHA also funds local agencies through the use of non-federal funds to further its mission toward self-sufficiency for its clients.

 

“DHA recognizes the work that NALHFA has been doing throughout the country to further the effort for affordable housing for our most vulnerable citizens,” said Sherri McDade, Chief Executive Officer. "We appreciate NALHFA’s advocacy and education on behalf of our industry and look forward to being a part of such a wonderful organization.”

 

For more information on the Denton Housing Authority, click here

 

For more information about NALHFA and how to join, click here.  

 

This post has not been tagged.

Permalink
 

Budget Deal Signed: NALHFA Claims Victory in New Spending Bill

Posted By Administration, Monday, March 26, 2018

[Washington, DC - 3/23/2018] President Trump signed a $1.3 trillion spending deal today that includes improvements to the Low-Income Housing Tax Credit (LIHTC) program and big raises to important HUD programs, including $1.3 billion in funding for the HOME Investment Partnerships program and $3.3 billion for the Community Development Block Grant program. The budget deal is a substantial victory for NALHFA and communities across the country. These improvements to housing resources will be instrumental in combatting the nation’s affordable housing crisis.

 

Included in the deal are important improvements to LIHTC, including an income averaging option that would allow the upper income limit on LIHTC projects to raise from 60% to 80% AMI across all units. This technical adjustment will help create greater diversity in incomes for LITHC housing and will allow for a wider range of affordability levels. Additionally, LIHTC will receive a 12.5% increase in allocation in years 2018 through 2021, which will produce approximately 30,000 more affordable homes over that time span. The deal did fail, however, to include many important provisions of the Affordable Housing Credit Improvement Act that are needed to make up for the loss of 235,000 homes over the next 10 years due to the loss of value in the credit following the passage of the Tax Cuts and Jobs Act of 2017.

 

NALHFA Executive Director Jonathan Paine said of the improvements, “LIHTC is one of the most effective resources our industry has for creating affordable housing. These improvements will help local housing finance agencies build more homes and serve more families. NALHFA commends Congress for taking these important steps to improve the LIHTC program, and will continue to encourage our partners on Capitol Hill to pass the full Affordable Housing Credit Improvement Act over the next few months.”

 

HUD funding also received a much needed boost, providing increased allocations for programs like the Public Housing Capital Funds, CDBG, HOME, Homeless Assistance Grants, Section 8, and more. These increased funds will help alleviate the need for affordable housing resources for the homeless, low-income families, and underserved populations.

 

NALHFA President Ron Williams said, “These boosts to affordable housing resources are a huge win for the industry. As our nation combats the affordable housing crisis affecting every state, county, and city, we need to continue to build up these important tools. NALHFA thanks Congress for their work and attention to the massive affordable housing needs of our country, and we look forward to collaborating with Congress on strengthening and expanding these resources to fully address the housing needs in the United States.”

This post has not been tagged.

Permalink
 

NALHFA Claims Victory In New Spending Bill

Posted By Administration, Thursday, March 22, 2018

Last night Congress released the text for a FY2018 budget deal that includes big raises to important HUD programs and improvements to the Low-Income Housing Tax Credit (LIHTC) program. The budget deal is a substantial victory for NALHFA and local communities across the country. If passed by Congress and signed by the President, it will ensure funding through September of this year for critical resources necessary to combat the affordable housing crisis in the United States.

 

LIHTC Improvements

  • Income Averaging Option—This technical change to the program would provide the option of raising the upper income limit on LIHTC projects from 60% to 80% AMI across all units. This will be very beneficial to creating mixed-income housing and allow for a wider range of affordability levels.
  •  12.5% LIHTC Increase—States will receive a temporary 12.5% allocation increase in years 2018 through 2021. This will partially offset the loss of units due to the lower corporate tax rate, providing 30,000 more affordable units across the country.

 

HUD Budget Increase

 

HUD programs received significant increases. From HOME, CDBG to Public Housing Capital Funds, the omnibus provides boosts that will help combat homelessness, house low-income families, and provide crucial services and facilities to under-served populations.

  • Public Housing Capital Funds would increase from $1.94 billion to $2.75 billion. This increase is desperately needed to combat a backlog of public housing needs.
  •  HOME would increase from $950 to $1.362 billion. This is above the NALHFA’s requested amount of $1.1 billion for FY2018.
  • CDBG would receive an increase from $3 billion to $3.3 billion. This is the amount NALHFA requested to Congress.
  • Homeless Assistance Grants would receive $2.513 billion, up from $2.38 billion in FY2017, including no less than $270 million for the Emergency Solutions Grants program.

 

The budget deal is a huge win for NALHFA and communities across the country. NALHFA wants to thank all of its members and coalition partners that have worked relentlessly over the past year to not only to protect current funding levels but to call for spending increases. Your dedication and perseverance helped make this happen.

 

Please make sure to reach out to your Representatives in the House and thank them for their support. NALHFA’s voice was truly heard on this issue and we want to continue to build upon the many relationships we have created over the last few months.

 

The NALHFA government relations team will continue to monitor the spending bill in the Senate and update its members on the latest developments.

This post has not been tagged.

Permalink
 
Page 5 of 9
1  |  2  |  3  |  4  |  5  |  6  |  7  |  8  |  9
more Calendar

The upcoming calendar is currently empty.

Click here to view past events and photos »

Association Management Software Powered by YourMembership  ::  Legal