Affordable Housing

News & Analysis as of

Preservation of affordable housing using conventional equity

Since the introduction of the Low Income Housing Tax Credit program in 1986, the majority of commercial equity investors in affordable housing projects have been those seeking tax credits in return for their equity...more

Upcoming Bi-Partisan Policy Center Housing Summit shows that housing truly is “The Color Purple”

Did you catch the news clips of the House and Senate leadership holding hands and singing during the “Kumbaya” moment at the recent ceremony commemorating the anniversary of the Civil Rights Act of 1964? (Check it out on...more

Pennsylvania Senate considers a bill to provide additional state funding for affordable housing

Recently, a bipartisan group of Pennsylvania State Senators sponsored a bill to expand the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund, commonly known as the State Housing Trust Fund. If passed,...more

Treasury Aims To Expand Assistance For Borrowers, Renters

On June 26, Treasury Secretary Jack Lew announced (i) a new financing partnership between Treasury and HUD designed to support the FHA’s multifamily mortgage risk-sharing program...more

Legislative Update from NCSHA Conference

In previous Housing Plus blog posts we’ve discussed various tax credit proposals that have been released since the beginning of the year, which include the comprehensive tax reform proposal from House Ways and Means Committee...more

Housing options for veterans

With Independence Day right around the corner and with several bond financings benefitting homeless veterans recently in the news (see Proposition 41 Bond Measure and Apartments for Homeless Veterans), it seemed fitting to...more

Tax Injunction Act Bars Challenge to Local Demolition Tax

Recently, the Seventh Circuit Court of Appeals denied a challenge to a municipal tax on the demolition of real estate based on the strict enforcement of the Tax Injunction Act. This decision reinforces long-standing...more

Baltimore County renews focus on affordable housing development

Earlier this week, the Baltimore County Department of Planning hosted a forum for the affordable housing development community as a part of its renewed commitment to expanding affordable housing opporunities in Baltimore...more

Tax-Exempt Bond Financing for Manufactured Home Communities

Did you know that an estimated 20 million people in the United States live in mobile home or manufactured home communities? These communities make up a significant component of the nation’s affordable housing stock....more

Being a “good landlord” not enough to prove low income housing qualified for Indiana’s charitable purpose property tax exemption

In Housing Partnerships, Inc. v. Tom Owens, Bartholomew County Assessor, Pet. No. 49T10-1005-TA-23 (June 6, 2014), Taxpayer owned several individual homes, duplexes and small apartment buildings. The properties were rented...more

HUD announces RAD changes at the RAD Network Training

HUD hosted the RAD Network Training on June 4th and 5th with a crowd in attendance that exceeded HUD’s expectations. The two day series of panel presentations spanned a range of topics with insights shared by HUD staff and...more

Restructuring of tax-exempt obligations used to finance affordable housing projects and “tax reissuance”

Recently I have assisted several clients restructure the tax-exempt obligations originally issued to finance their affordable housing projects. The purpose of these restructurings has been for anything from reducing the...more

Proposed Section 752 Regulations and LIHTC Transactions: Part II

In a previous post earlier this week, I described the proposed regulations under Section 752 of the Internal Revenue Code (the “Proposed Regulations”), and in particular, the proposed changes to the rules regarding the...more

HUD Adopts New Accessibility Standard

On May 23, the U.S. Department of Housing and Urban Development (HUD) announced its adoption of an alternative accessibility standard for construction and alteration of housing and other facilities subject to Section 504 of...more

Proposed Section 752 Regulations and LIHTC Transactions: Part I

One of the hot topics at the recent ABA Taxation Section meetings in Washington, D.C. was the IRS’s proposed regulations regarding the allocation of partnership recourse and nonrecourse liabilities under section 752 of the...more

5 things to know about RAD

With HUD’s Rental Assistance Demonstration program in full swing and transactions moving through the RAD pipeline, it may be helpful to step back now and again to consider some points about RAD. Here are a few that have...more

Evolving trends in Maryland affordable housing

On April 30th Ballard Spahr was proud to host representatives from the Maryland Department of Housing and Community Development (DHCD), the Maryland Attorney General’s office, Pennrose Properties and AGM Financial to discuss...more

Study shows stable housing slashes health care costs

Affordable Housing Finance recently reported that a study of the residents of permanent supportive housing in Portland, Oregon found health care expenses fell dramatically in the first year after a resident moved into the...more

Insight into the affordable housing shortage

House for SaleAccording to a report released in December, 2013 by the Joint Center for Housing Studies of Harvard University, an extreme shortgage of affordable housing is available within the United States for low-income...more

FHA Low Income Housing Tax Credit Pilot Program Revisions

In February 2012, the United States Department of Housing and Urban Development (HUD) launched the FHA Low Income Housing Tax Credit Pilot program under the mandate of the Housing and Economic Recovery Act of 2008 for the...more

Latest Community Infrastructure Levy Amendment Regulations come into force

The latest round of amendments to the Community Infrastructure Levy (CIL) Regulations 2010 have come into force. Key changes are: - Phased payment of CIL for hybrid and other multi-phase consents - CIL can be...more

New FHFA Head Will Delay Proposed Mortgage Fee Hike

Former North Carolina congressman and the new head of the Federal Housing Finance Agency (FHFA), Mel Watt, has given the public a sneak peek of how he will lead the FHFA. On December 20 he released a statement expressing his...more

Right of First Refusal Act in Prince George's County, Md., Impacts Multifamily Rental Properties

Prince George's County Council recently passed CB-27-2013 (Conversion of Rental Housing), to regulate the sale of multifamily rental housing under certain circumstances to protect quality low- and moderate-income affordable...more

Financial Services Bulletin: Action At Federal Agencies

Agencies Adopt Final Rules Exempting Certain Higher-Price Mortgage Loans from Appraisal Requirements - On Thursday, December 12, 2013, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal...more

Spotlight on Density Incentives in CR Zones

With the zoning rewrite work sessions as a backdrop, Councilmembers George Leventhal and Marc Elrich have resurrected their dissatisfaction with the "incentive density point" distribution under CR Zone. The following...more

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