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Redevelopment Excellence Category: National Community Development Week NALHFA Member Spotlight

Posted By Administration, Monday, April 24, 2017

 

National Community Development Week NALHFA Member Spotlight 
National Community Development Week continues with another NALHFA member spotlight. Below are projects submitted for the Redevelopment Excellence category of the NALHFA Awards program. Read full article

Be sure to follow NALHFA on FacebookTwitter, and LinkedIn to see what we're up to for the rest of Community Development Week!

 

Martha's Vineyard Place Apartments: Dallas Housing Finance Corporation 

Hunter's Point South A & B: New York Housing Development Corporation

San Francisco RAD Portfolio Conversion: SF Mayor's Office of Housing & Community Development 

Piccadilly Square Redevelopment: Washington County Community Development Agency

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Multifamily Excellence Category: NALHFA Celebrates National Community Development Week

Posted By Administration, Wednesday, April 19, 2017
National Community Development Week NALHFA Member Spotlight 
 National Community Development Week continues with another NALHFA member spotlight. Below are projects submitted for the Multifamily Excellence category of the NALHFA Awards program. 

Be sure to follow NALHFA on FacebookTwitter, and LinkedIn to see what we're up to for the rest of Community Development Week!

Multifamily Excellence Category. Read more.

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Commuinity Development Week Spotlight: Dave Wright Apartments & Landings at Marine Creek

Posted By Administration, Tuesday, April 18, 2017

National Community Development Week NALHFA Member Spotlight 
 As NALHFA continues to celebrate Community Development Week, we will be featuring this year's submissions for the NALHFA Awards program. For over 20 years, NALHFA has been recognizing the outstanding efforts of its member agencies and non-profit organizations through our Awards program. Held in conjunction with the NALHFA Annual Educational Conference, these awards draw submissions from across the United States and in all categories of affordable housing development-single family, multifamily redevelopment, mixed-use, senior housing, and many others. The NALHFA awards committee judges submissions and final decisions will be announced at the 2017 Annual Conference

HOME Excellence Category: Dave Wright Apartments, Allegheny County Residential Finance Authority 

HOME Excellence Category: Landings at Marine Creek, Fort Worth Housing Finance Corporation, Read more.

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NALHFA Celebrates Community Development Week: Green Homes North Project

Posted By Administration, Monday, April 17, 2017
This week (April 17-22) communities across the nation will celebrate National Community Development Week. This annual event is designed to celebrate the accomplishments of community, economic, and housing development programs across the country.

Throughout Community Development week, held during the spring Congressional recess, hundreds of communities will hold numerous events and meet with Members of Congress in their home districts to build support for the programs that make their community development projects possible. To recognize the achievements of our members and these programs, NALHFA will also be participating in Community Development week by sharing content, featuring member projects, and meeting with Hill staffers to advocate for these important programs. Read more.

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NALHFA Members Take Action: Meet with Your Lawmakers Now Over the Spring Break

Posted By Administration, Thursday, April 13, 2017

Congress is currently taking its traditional break from April 10th until April 24th. Take action over the two-week congressional spring break by meeting with your Members of Congress in the communities they represent.

Now is a great time to contact your local House and Senate offices and invite them to tour your housing projects. NALHFA is happy to help in providing you with the tools you need to engage your elected officials during the extended break.

When you do make your appointments make sure to let us know, and after the meeting please send your pictures to hvoorman@nalhfa.org.

We encourage NALHFA members to focus their outreach on the following areas: Read more.

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Trump's Budget Asks for $6 billion in HUD Cuts

Posted By Heather Voorman, Friday, March 17, 2017

[Washington, DC- 3/17/17] The Office of Management and Budget's "blueprint" for 2018 came out this week showing more than $6 billion in cuts to HUD's funding. These funding levels closely match the preliminary numbers leaked to the Washington Post last week.

 

The budget blueprint calls for the elimination of the Community Development Block Grant (CDBG) program, stating that the program is "not well-targeted to the poorest populations and has not demonstrated results." Additionally, the blueprint calls for the elimination of the HOME Investment Partnerships (HOME) program, the Choice Neighborhoods program, and the Self-help Homeownership Opportunity Program. Read More. 

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HUD Budget Faces Proposed Cuts

Posted By Heather Voorman, Friday, March 10, 2017
[Washington, DC- 3/10/17] Preliminary budget documents from the Trump administration reveal a proposal of more than $6 billion in cuts for the Department of Housing and Urban Development. The proposed cuts include big hits for public housing authorities, where operational funds would be reduced by $600 million, or 13 percent and the public housing capital fund would see cuts of an additional $1.3 billion, or about 32 percent.
 
The proposals also include eliminating Community Development Block Grant and HOME Investment Partnerships funds entirely. Direct rental assistance payments, housing for the elderly, housing for people with disabilities, and money for Native American housing would be cut by $521 million collectively. These cuts, if enacted, would increase the number of families that struggle to find affordable housing and would halt efforts by HUD to combat poverty and urban decline. Read More.

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NALHFA Appoints Jonathan M. Paine Interim Executive Director

Posted By Administration, Wednesday, February 15, 2017
NALHFA Appoints Jonathan M. Paine Interim Executive Director 
 
[Washington, DC- 2/15/17] 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 interim executive director of the association effective February 6, 2017. Paine replaces Marc Selvitelli, who recently left the association to pursue another career opportunity. 

Jonathan Paine has served as the chief executive officer of the National Lumber and Building Material Dealers Association (NLBMDA) and as the chief operating officer for the Window and Door Manufacturers Association (WDMA). Read more.    

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Capital Area Finance Authority Announces Upcoming Search for Executive Director

Posted By Administration, Monday, January 9, 2017

Capital Area Finance Authority Announces Upcoming Search for Executive Director

Press Release Contact: Cheri Ausberry 
Phone: (225) 939-6347 

FOR IMMEDIATE RELEASE:

 

 Baton Rouge, La.—December 22, 2016—The Capital Area Finance Authority (CAFA), announced it will soon begin the search for a new executive director.

 

Vickie Theriot will serve as the interim director until a new director is chosen. Theriot has worked with CAFA in various capacities since June 1979, and has served the organization as executive vice president for almost two years.

 

“We are looking forward to beginning the search for a new executive director,” said Chair of the Board Cheri Ausberry. “We are so grateful to have Vickie Theriot’s leadership in the interim, and we are confident that CAFA will continue to grow and serve as a nationally recognized finance authority.”

 

Former executive director Mike Airhart has served CAFA since June 2014, and presided over the organization’s rebrand in 2014. Formerly known as the East Baton Rouge Mortgage and Finance Authority (EBRMFA), the organization expanded its service offerings and broadened its geographic area. The rebrand also reflected the organization’s new project financing capabilities including healthcare, correctional, educational, water generating facilities, mass transit and parking facilities, cultural and civic facilities, community development and redevelopment financing, power generating facilities, industrial development financing, airport and water facilities and manufacturing facilities. Read full press release.

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Housing Finance Update - November 2016

Posted By Administration, Wednesday, November 30, 2016

Save the Date- 2017 NALHFA Annual Conference

Hosted by: Mayor's Office of Housing and Community Development
The 2017 NALHFA Annual Conference is rapidly approaching. Next year’s conference will occur on April 26- 29, 2017 at the Park Central Hotel in San Francisco, California. Registration for the conference will open in early January. The conference webpage, is updated regularly and will soon include information including: agendas, hotel information, and tours.

Book your hotel today!


Legislative & Policy Update

Election Results and Implications

President-elect Donald Trump (R) has begun the transition process as he plans to succeed Barack Obama on January 20. Trump has begun naming nominees to his Cabinet as speculation continues over who may be nominated as Secretary of Housing and Urban Development (HUD).

In the Senate, Republicans will remain in the Majority next year after winning most of the close races. Sen. Mitch McConnell (R-KY) will return as Majority Leader as Republicans are expected to hold a narrow majority of 52-48 next year when adding the two Independents that organize with Democrats.

Republicans suffered narrower than expected losses in the 435 House races and have lost a net of only five seats from their current majority. Four races remain undecided. Republicans are expected to have a 47-seat advantage to start the new Congress.

Caps on discretionary budget authority, which includes funding for programs such as CDBG and HOME, remain in place from 2017 to 2021. The cap for nondefense funding will decrease from $518 billion for 2017 to $516 billion for 2018 and then rise to an estimated $555 billion for 2021. Thus, a substantial increase in investment for CDBG and HOME is unlikely through 2021.

For the first time in 10 years, Republicans will control the White House, Senate, and House of Representatives. Trump has pledged to repeal controversial regulations from the Obama Administration, which could mean repeal to portions of Dodd-Frank. Should Congress and the President-elect look to change the current budget agreement it could affect the funding levels for discretionary programs such as CDBG and HOME. NALHFA is monitoring the issue and working with other associations to preserve funding for vital community and economic development programs. TOP


Congress Plans for Short-Term Funding Agreement

House Republicans announced last week that they will move forward with an agreement funding the federal government through March 31 as requested by President-elect Donald Trump’s transition team. Funding for federal government programs is set to expire on December 9. It is expected that congressional Republicans will work with the Trump Administration early next year to reach an agreement funding the federal government for the second half of Fiscal Year (FY) 2017, which expires on September 30.

During the stop-gap funding for the federal government, spending levels for most programs—including HOME and CDBG—are expected to remain at FY 2016 levels. A consequence of this decision is that the distribution of funds to HOME program award recipients for FY 2017 is unlikely to begin until approximately July 2017. TOP

House GOP to Consider Return of Earmarks

Speaker of the House Paul Ryan (R) has promised the House Republican Conference that they will have a vote early in 2017 on reinstating earmarks in appropriations bills. Some lawmakers have complained about the ban, which has been in place for five years, on the grounds that it cedes too much authority to the executive branch. Although there is interest from House Republicans and Democrats to lift the earmark ban, it does not appear that the Senate will bring them back. Senate Majority Leader Mitch McConnell (R) last week reiterated his support for continuing the earmark ban. TOP


NALHFA Meets with Senate Committee on HQLA

On October 19, NALHFA along with a diverse group of organizations, met with Majority Staff on the Senate Committee on Banking, Housing and Urban Affairs regarding legislation directing the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency (OCC) to classify all investment grade municipal securities as High Quality Liquid Assets (HQLA). During the meeting, Majority Staff stated that the current Chairman, Sen. Richard Shelby (R-AL), opposed the legislation but was not inclined to stop it should it have sufficient support in the committee, and ultimately the Senate Floor.

On February 1, the House of Representatives by voice vote passed H.R. 2209. The bill amends Liquidity Coverage Ratio: Liquidity Risk Measurement Standards; Final Rule - 79 Fed. Reg. 61439 by including municipal securities as HQLA. The legislation makes a technical correction to the rule by recognizing that municipal securities meet all the criteria to be characterized as HQLA, including limited price volatility, high trading volumes and deep and stable funding markets.

Sen. Shelby is term-limited as Chair of the Banking Committee and Sen. Mike Crapo (R-ID) is expected to serve as Chair next year. Earlier this year, Janet Yellen, Chair of the Federal Reserve Board of Governors, expressed opposition to H.R. 2209 stating it would interfere with the Fed’s supervisory judgment. NALHFA is continuing to work with other organizations as part of the Public Finance Network coalition to advance the issue in Congress. TOP


News & Notes

NALHFA Board Member Dawn Luke Makes Atlanta Business League’s “100 Women of Influence” List

Dawn Luke, Senior Vice President of Community Development for Invest Atlanta, has been named one of “Atlanta’s Top 100 Black Women of Influence” by the Atlanta Business League (ABL).

Luke, who has worked at Invest Atlanta for over 22 years, was named to the prestigious list at ABL’s recent 32 ndAnnual Super Tuesday Conference held at the Sheraton Atlanta Hotel, October 11, 2016. The conference honored outstanding African-American female business owners and professionals in their respective fields.

While the guests were treated to a host of speakers and presenters during their meals, they were also able to attend informative business workshops throughout the day. Luke was recognized for effective advancement of community development and her proven passion when it comes to the topic of affordable housing initiatives.

Founded in 1933, the Atlanta Business League supports the creation and development of successful businesses that are owned, operated and managed by African-Americans in metro Atlanta. TOP


U.S. House Prices Rise 1.5 Percent in Third Quarter

House prices rose 1.5 percent in the third quarter of 2016 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.1 percent from the third quarter of 2015 to the third quarter of 2016. FHFA’s seasonally adjusted monthly index for September was up 0.6 percent from August.

While the HPI rose 6.1 percent from the third quarter of 2015 to the third quarter of 2016, prices of other goods and services were nearly unchanged. The inflation-adjusted price of homes rose approximately 6.0 percent over the last year.

Additional information along with third quarter data is available here. TOP


HUD Publishes RAD Notice on Fair Housing, Civil Rights, and Relocation Requirements

On November 11, HUD published the anticipated RAD Notice Regarding Fair Housing and Civil Rights Requirements and Relocation Requirements Applicable to RAD First Component – Public Housing. The notice is intended to provide guidance regarding key fair housing and civil rights statutory and regulatory requirements, explain the situations in which HUD is requiring front-end fair housing and civil rights reviews, and provide information regarding the types of information that must be submitted to facilitate HUD’s review of certain fair housing and civil rights requirements in connection with public housing conversions under the First Component of RAD. The notice is also intended to provide guidance in response to requests for clarity among RAD participants on the review process, including how HUD evaluates whether or not to further invest on a particular site.

The Notice is effective immediately and applies to all projects that have applied for conversion under the First Component of RAD but have not yet converted. The Notice will not affect any front-end civil rights approvals provided by HUD prior to November 10, 2016. However, with respect to relocation activities, where a Financing Plan has been submitted and accepted for full review as of November 10, 2016, an exception from the Notice can be sought and the project may continue to be governed by Notice H 2014-09/PIH 2014-17 with respect to relocation activities, but not with respect to fair housing and civil rights requirements.

HUD also published a Solicitation of Comment seeking public comment on the Notice with a focus on the clarity of the information provided in the Notice. Comments are due December 14, 2016.

The full text of the notice is available here. TOP


About NALHFA The National Association of Local Housing Finance Agencies, founded in 1982, is the national association of professionals working to finance affordable housing in the broader community development context at the local level.
National Association of Local Housing Finance Agencies, 2025 M Street, NW, Suite 800, Washington, DC 20036
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Tags:  Housing Finance Update 

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