Murphy Talks About Challenges Facing Affordable Housing
Having fought many battles with Congress over curbs to bond and other programs that affect affordable housing, John Murphy expects the challenges will continue as he retires from the National Association of Local Housing Finance Agencies after 30 years as its executive director.
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The International Municipal Lawyers Association has filed a friend of the court brief asking a federal appeals court to reconsider its decision to disregard a qualified immunity defense for Miami, Fla.'s former budget director, warning that allowing the Securities and Exchange Commission lawsuit against him to go forward would negatively affect municipalities everywhere.  more »
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A federal judge wants more information on bond firms involved in a $31 million borrowing by Allen Park, Mich. that was the target of a recent SEC probe.  more »
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The Massachusetts Development Finance Agency and the Wentworth Institute of Technology have entered into a settlement with the Internal Revenue Service to resolve tax issues relating to land located in Concord, Mass. that was acquired with bond proceeds. The institution sold the land in 1998 without redeeming bonds or finding alternative qualified use for the sale proceeds at the time.  more »

The Allen Park, Mich., case marks the first time a city official has been charged on the theory that he "controlled" the persons who committed the primary securities law violations, even though he isn't alleged to have participated or even known of the conduct at issue.

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