What's trending in Affordable Housing



May 17, 2016

Author(s): John H. Cornell, III, Lee Harrington, Allen A. Lynch, II, Jeffrey W. Sacks

Tax exempt volume cap bonds for housing in Massachusetts, assisted living model in Massachusetts, bankruptcy case’s impact on affordable housing project.

Massachusetts

Massachusetts should use more volume cap bonds for housing

At a time when the spread between taxable and tax exempt debt is historically small, Massachusetts should use more tax exempt volume cap bonds for affordable housing to generate the additional benefit of low-income housing tax credits.—Jeffrey W. Sacks and Pamela Swanson

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Proposed changes to Massachusetts law reflect evolving assisted living model

Those who think that assisted living providers are not in the health care business will need to think again.—Allen Lynch

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Appeals court in bankruptcy case allows valuation of affordable housing project assuming land use restriction agreement is eliminated

In an opinion that potentially creates significant obstacles to reorganization of affordable housing borrowers/operators that seek bankruptcy relief, the 9th Circuit Court of Appeals held that, in the context of a “cram down” plan of reorganization in a Chapter 11 bankruptcy, the secured creditor’s interest in real property should be based on a valuation that is not discounted by the presence of affordable housing covenants.—Jeffrey W. Sacks, Lee Harrington, John H. Cornell and Nicole Gallerano

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Upcoming Events

NH&RA Spring Developers Forum

Location: The Ritz-Carlton | Marina del Ray, CA

Date: May 16–17, 2016

Speakers: Harry Kelly

Topics include: State of the Golden State, tax credit equity, state legislative update, affordable housing debt case studies, public housing joint venture development opportunities, fair housing and much more.

Institute for Responsible Housing Preservation Chicago Seminar

Location: Renaissance Blackstone Hotel | Chicago, IL

Date: May 18–19, 2016

Speakers: Richard Goldstein, Richard Michael Price, Anthony Ruvolo, Monica Sussman, Deborah VanAmerongen and Steve Wallace

Topics include: Washington update, low-income housing tax credits/tax reform, RAD program update, equity and debt, emerging preservation marketplace, plus much more.

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