Affordable Housing News & Views - May 2019

Catch the latest housing credit pricing updates and trends from CohnReznick’s Tax Credit Investment Services (TCIS) group. The latest survey of housing tax credit market participants, including 40 syndicators and direct investors, shows the median reported housing credit price in the last 60 days was $0.92 across 155 deals. Among 4% deals recently assessed, hard debt on average makes up for 35-45% of the total development costs. Click below to read more , including current national and regional multi-investor funds, pricing, and other insights.

After a long and highly anticipated wait, Treasury has finally lifted the veil on a new set of proposed regulations that attempts to bring additional clarity to tax breaks on investments in economically disadvantaged communities that are designated as qualified opportunity zones (QOZs). The proposed regulations, some 169 pages in length, were released on April 17, and supply additional guidance under Section 1400Z-2 of the Internal Revenue Code.

• Catch up with CohnReznick’s April 30 webinar discussing the more impactful aspects of the new guidelines and related significant considerations that should be explored.
• Review CohnReznick’s “long and the short” with 12 quick hits on the latest guidelines. 

In order for not-for-profits to best leverage their real estate assets, they must first have a good understanding of their assets, their options, and market conditions. Listen to the on-demand webinar from April 4 as CohnReznick, along with Goldstein Hall, Denham Wolf, and Think Forward Financial provide not-for-profits with practical advice and best practices for leveraging real estate to support their missions, operations, and financial needs. Topics discussed include legal and tax issues involved, how NFPs can finance their assets, development challenges and what models and options are available.

Listen in as Beth Mullen, CohnReznick’s national affordable housing practice leader, checks in with Will Eckstein, vice president of development, from Greystone, a leading investment, lending and advisory firm. Beth and Will discuss the latest trends, contract services for developers of all stripes including not-for-profits, and what they are seeing in the housing industry so far this year. 

With mid-century buildings representing a vast opportunity and market advantage for well-informed practitioners, the conference covered a series of presentations and panel discussions focused on deal-structuring, approvals, tax and legal issues, including other tax credits such as NMTC and LIHTC and the latest on Opportunity Zones. Marshall Phillips, Charles Fisher and Bill MacRostie discuss a spring Mid-Century Historic conference, the latest with HTCs and other aspects to help maximize investing in community development.

 

AROUND THE COMMUNITY

CohnReznick’s New Markets Tax Credit Summit, May 13-15

NYSAFAH Annual New York City Conference, May 16

Affordable Housing of Montgomery County (MD) Housing Conference, May 17

California Council of Affordable Housing Spring Conference, May 15-17

National Multifamily Housing Council Spring Board of Directors Meeting, May 15-17

National Association of Local Housing Finance Agencies, May 15-18

HAND Housing’s Changing Face of Nonprofit Developers, May 28

Pennsylvania Association of Housing and Redevelopment Agencies 2019 Spring Conference & Expo, June 2-5

NH&RA Asset Management Conference, June 3-4

Housing Advisory Group Annual Meeting, June 4

National Association of Affordable Housing Lenders Annual Policy and Practice Conference, June 5

CAHEC Annual Partners Conference, June 4-5

HAND’s 28th Annual Meeting & Housing Expo, June 11

Virginia Housing Alliance Housing Virginia Conference, June 12-13

NCSHA Housing Credit Connect, June 11-14

Consortium for Housing and Asset Management Annual Conference, June 18-19

NLHA Annual Meeting, June 19-21

IPED Annual Historic Tax Credit Summit, June 20-21

PHFA 2019 Multifamily Affordable Housing Conference, June 26-28

HEADLINES

Fannie Mae Launches $10 Million Affordable Housing Challenge (WJCT Public Media)

REACHing Out With Intergenerational Affordable Housing (DJCOregon.com)

Year 15: Facing Off With The Aggregator (Tax Credit Advisor)

Low-Income Housing Fund Closes With $109M (GlobeSt.com)

New Report: Solutions For Miami’s Housing Affordability Crisis (Miami Herald)

Affordable Housing Bills At Nevada Legislature Address Tax Credits, Evictions & More (Reno Gazette Journal)

Affordable Housing Gap Grows, And Available Resources Are Lacking (Bisnow Chicago)