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News Clips

RealEstateRama, Wednesday, December 07, 2016
(RECAP: HUD today unveiled the Community Assessment Reporting Tool (CART) – an innovative reference and mapping tool created to help answer the question, “How is HUD investing in my community?” CART provides a snapshot of HUD investments across a community, cutting the time it takes to generate this information from several business days to minutes. CART uses geospatial technology to show the wide variety of HUD investments by city, state, county, metropolitan area, or congressional district. It also provides an interactive mapping interface that allows users to explore HUD investments within their community and see property- and grant-level detail at a variety of geographies.)
Novogradac, Tuesday, December 06, 2016
(RECAP: Reports indicate that President-elect Donald Trump and House Republicans plan to aggressively pursue tax reform in early 2017. It’s too soon to say what the tax reform might mean for specific tax provisions, such as the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), historic preservation tax credit (HTC) and renewable energy tax credits. But, it’s important to note that even if these tax credits are left intact, Congress and the president could consider a number of other changes that would have significant implications for the future of investment affordable rental housing, community development, historic preservation and renewable energy.)
Inside NOVA, Monday, December 05, 2016
(RECAP: Though born in controversy, Arlington’s Affordable Housing Study Working Group managed to win over most critics during its three-year effort, and on Dec. 4 was among the honorees at the eighth annual Ellen M. Bozman Affordable Housing Awards, presented by the Alliance for Housing Solutions. “It’s great to live in a community where affordable housing is a bipartisan issue. Arlington can serve as an inspiration to the country as to how we can make it work,” said Michael Spotts, who served as vice chair of the 18-member task force. The body’s work evolved into an Affordable Housing Master Plan, adopted unanimously by the County Board last year.), Monday, December 05, 2016
(RECAP: Big cities may be getting all the attention, but the suburbs are holding their own in the battle for population and young earners. Research shows that suburbs are continuing to outstrip downtowns in overall population growth, diversity and even younger residents. The suburban areas surrounding the 50 largest metropolitan areas make up 79% of the population of those areas but accounted for 91% of population growth over the past 15 years, according to the study. What’s more, three-quarters of people age 25 to 34 in these metro areas live in suburbs.)
National Mortgage News, Monday, December 05, 2016
(RECAP: While the designation of retired neurosurgeon Ben Carson to run HUD appears like an unusual choice, lenders are hoping he can bring a fresh perspective to the industry. At the very least, some industry analysts said Carson's seemingly close relationship with President-elect Donald Trump could help bring more attention to housing issues. Their relationship will help "elevate the issue of housing," said Brian Montgomery, a former commissioner of the FHA. "No doubt in my mind that President Trump values his relationship with Carson." Many compared Carson to President Reagan's selection of Samuel Pierce, a corporate lawyer who had little experience with housing, as head of HUD in 1980. At that time, the Reagan transition team also selected a Realtor and Home Builder to be Pierce's No. 2 and the head of the FHA. The team was credited with rejuvenating FHA by introducing a direct endorsement program in 1983. That leaves many in the housing industry waiting to see who is picked to back up Carson.)
The Roanoke Times, Monday, December 05, 2016
(RECAP: The Roanoke County Planning Commission voted against a proposal Monday to allow a mixed-use development next door to William Byrd High School. The recommendation, which will be weighed by the board of supervisors at its Dec. 20 meeting, was a victory for homeowners who have opposed the approximately 23,700-square-foot project. The project, referred to as Emerald Creek in applications filed with the county, would bring a three-story building to 2602 Washington Ave., with office space on the first floor and apartments above. The development would be capped at 18 apartments. On a 4-1 vote, the planning commission voted to advise the board of supervisors to reject the project application as currently presented. Some commissioners expressed hope that Dorra would refine his proposal. In an interview, he said he would seriously consider the feedback but was unsure if substantial steps could be taken before the supervisors’ meeting in two weeks.)
Loudoun Times-Mirror, Monday, December 05, 2016
(RECAP: As the county delves into its land use plan and vision around the future Silver Line Metro stations, Loudoun supervisors have made it clear: Residential development should be restricted around Dulles International Airport. After discussing a series of 11 key “decision points,” supervisors at a special business meeting Nov. 29 sent their draft Silver Line comprehensive plan amendment, or CPAM, to the Planning Commission for review. The draft plan outlines a number of policies, including deciding how homes should be designed around the areas closest to Metro stations and whether residential should be allowed east of Loudoun County Parkway near the future Loudoun Gateway Metro station and Dulles Airport -- an area the board spoke about extensively. Allowing more residential near the airport -- an area considered the county’s largest economic driver -- has been an issue supervisors have grappled with for months.)
The Atlantic , Friday, December 02, 2016
(RECAP: Donald Trump’s choice to have his one-time rival Ben Carson head HUD has triggered a lot of head-scratching. Carson’s ongoing dilly-dallying on whether to accept the job has perhaps driven many into full excoriation disorder, wondering why a retired neurosurgeon with no housing policy experience is even being considered. But if the critique is that a medical professional is unfit for the HUD position, then that doesn’t square with the research, which is increasingly convinced that housing is indeed a health issue. “There are clear and obvious links between health and housing,” says Diane Yentel, president and CEO of the National Low Income Housing Coalition. “Whether Dr. Carson would use his position and his expertise to make that case in order to protect and expand proven affordable housing solutions remains unknown.”)
The New York Times , Friday, December 02, 2016
(RECAP: Steven Mnuchin, President-elect Donald J. Trump’s nominee to run the Treasury Department, electrified Fannie Mae and Freddie Mac shareholders on Wednesday when he signaled that the mortgage finance giants would finally be allowed to get out from under Washington’s thumb. As a former head of the mortgage-backed securities desk at Goldman Sachs, Mnuchin well understands the mechanics of this enormous market. He also recognizes the significant role a well-capitalized Fannie and Freddie could play in ensuring that borrowers have access to mortgage money in good economies as well as bad. A first step in ensuring Fannie and Freddie are safe would be to let them rebuild their capital. Since the government began taking all their profits in 2012, it has directed the companies to operate on a small and shrinking sliver of capital. Under the current arrangement, the companies will have zero capital at the end of 2018.)
The Virginian-Pilot, Thursday, December 01, 2016
(RECAP: Virginia Beach’s 25th Street development and an affordable housing project in the city have won annual Vision Awards from the Urban Land Institute of Virginia. The development turned the city’s 244-space surface parking lot into a 147-unit apartment complex, the iFly indoor sky-diving facility and a parking structure. The urban planning and development group awarded its innovative deal of the year to the $12 million Crescent Square affordable apartment complex in Virginia Beach. The 80-unit housing project from Richmond-based nonprofit Virginia Supportive Housing was built by Breeden Construction. Units are rented to adults earning no more than 50 percent of the area’s median income or to individuals who had been homeless.)
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