Items Tagged with 'Affordable Housing Program'

ARTICLES

  • Freddie Mac invests $61 million in housing for families displaced by Hurricane Harvey, others

    Launches new LIHTC fund to provide housing for homeless individuals
    Freddie Mac, which re-entered the Low-Income Housing Tax Credit market last year for the first time in nearly 10 years, is making another investment in affordable housing. The government-sponsored enterprise announced Monday that it closed a LIHTC fund with National Equity Fund and made three investments, totaling more than $61 million.
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  • Freddie Mac partnering with RBC to provide $180 million for affordable housing

    Fund has already provided money for rebuilding Puerto Rico
    Freddie Mac, which re-entered the Low-Income Housing Tax Credit market last year after nearly 10 years away, is partnering with RBC to provide more than $180 million for affordable rental housing. The fund has already closed 10 transactions, including two in Puerto Rico and eight more in five states: New York, South Carolina, Tennessee, Texas, and West Virginia.
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  • Freddie Mac just had its biggest year ever in multifamily

    Multifamily support hits all-time high
    We already knew that Freddie Mac set an all-time record for multifamily security issuance in 2018, so it probably shouldn’t come as a surprise that 2018 was the government-sponsored enterprise’s best overall year ever in multifamily. Here are more details about how the GSE got there.
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  • Freddie Mac makes another LIHTC investment, inks deal with Boston Financial

    Fund will provide as much as $100 million for affordable housing
    Freddie Mac, which recently re-entered the Low-Income Housing Tax Credit market for the first time in nearly 10 years, is making another investment in affordable housing. The GSE announced this week that it closed its first LIHTC Fund with Boston Financial Investment Management and made its first investment in the fund.
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  • Fairfax County, Virginia opens public housing waiting list for first time in 10 years

    Area outside Washington, D.C. hasn’t taken new applications since 2007
    Residents of Fairfax County, Virginia, haven’t been able to get on the waitlist for public housing in the area in 10 years due to high demand for affordable housing, but that’s about to change. Fairfax County officials announced recently that the county’s housing authority will soon be opening up the Rental Assistance Demonstration Waitlist for the first time since 2007.
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  • Fannie Mae experts: How to address rising rents for moderate income households

    Bob Simpson and Tanya Zahalak on helping middle income renters afford their rent
    [Expert commentary] There should be a surplus of available units for for middle income renters, so why do rents keep rising? It's complicated. And what are we supposed to do about it? That's complicated too. Here's a look an exclusive look at some solutions to these issues from experts at Fannie Mae.
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  • FHLBank of San Francisco issues $65.9 million in grants for affordable housing projects

    Will help fund 70 affordable housing projects
    The Federal Home Loan Bank of San Francisco is issuing $65.9 million in grants for 70 affordable housing projects across seven states. The 2018 AHP grants were awarded to the 70 projects through 29 FHLBank San Francisco member financial institutions working in partnership with community-based housing sponsors or developers to apply for funding.
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  • Historic Iowa military barracks transformed into affordable housing community

    LIHTC used to convert Fort Des Moines to housing
    A lot of people may not know about Fort Des Moines, but the Iowa military base has significant historical value. The Iowa installation was the site where black Americans were first trained to be military officers during World War I, and now, part of the historic area has been preserved, restored and converted into a 142-unit affordable housing community, thanks to a novel approach from a leading affordable housing developer.
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  • Former executive director of Michigan housing commission jailed for stealing HUD funds

    Sentenced to 37 months for scheming to steal $336,000 in federal funds
    The former executive director of the St. Clair Housing Commission in Michigan was sentenced earlier this week to more than three years in prison after pleading guilty to stealing Department of Housing and Urban Development money that was supposed to be used to provide housing to low-income families.
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  • Former Michigan housing commission exec admits to stealing Section 8 funds

    Also admits to embezzling funds from commission’s operating budget
    The former executive director of an affordable housing commission in Michigan admitted in court this week to stealing more than $336,000 in federal funds, including $162,000 that was meant for the Section 8 housing program. Additionally, Lorena Loren admitted to using the commission’s two credit cards to make unauthorized purchases of personal items for herself and relatives from Amazon, Walmart and Sam’s Club stores, to the total of $166,000.
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