Affordable housing bonds

A new law in Virginia goes into effect as attorneys provide counsel about economic development authorities serving as conduit bond issuers for affordable housing communities.

The effects of the 21st Century ROAD to Housing Act are already being sized up as the impetus for maximizing their intentions may fall on local public finance and regulatory policies.

Mayors and city leaders face an uncertain future from dwindling federal infrastructure funding, but a major housing bill offers hope.

Uncertainty about the fate of the bipartisan housing bill, advance refunding, and a new take on Build America Bonds is raising hopes and concerns among issuers.

The President is pumping the brakes on signing the first major housing bill in 30 years including a provision that lifts the public welfare cap, a move that could spur bond sales.

California lawmakers and the governor said they agreed on an $11.3 billion housing bond measure in November, aiming to lift affordable housing and homeownership.

"We do good work," said Mike LaPierre, president of GPM Municipal Advisors, which acts as advisor and staff to the Public Finance Authority and the California Community Housing Agency.

Moody's said the $350 million of Series 2007 Class I bonds are on review for further downgrade.

The HOME deal is being priced through the Philadelphia Redevelopment Authority, but carries ratings on par with the city's issuer ratings.

The rating agency cited weak demand for the facilities.

By an overwhelming bipartisan majority, the House advanced affordable housing legislation that includes a proposal that's expected to spur mortgage revenue bond issuance.

Kutak Rock warns tax attorneys about the Internal Revenue Service doing compliance checks as opposed to formal audits on certain multifamily bond issues as tax season is expected to add more stress to an understaffed agency.

The measure would fund 40,000-plus homes to address the state's persistent supply gap, supporters say. Time is tight to qualify it for the June election.

Los Angeles plans to price $86 million in bonds off its Proposition HHH bond measure, closing out the $1.2 billion GO authorization from 2016.

Legislation to increase the affordable housing supply which often includes bond sales is getting attention in Congress as the bipartisan ROAD to Housing Act hits a speed bump.

The federal budget bill lowered the percentage of private-activity bonds needed for affordable housing projects to qualify for 4% tax credits, but it hasn't been the boon expected.

The Senate passed the ROAD to Housing Act, which should boost the use of mortgage revenue bonds, as a rider on the Defense Reauthorization Act.

Housing advocates are resuming a fracas with the federal government over Build America, Buy America requirements they claim are slowing down efforts to build more affordable housing, which relies on private activity bonds.

A bill to provide state credit support for housing finance and another to create an infrastructure bank were placed in the legislature's suspense file.

Changes in how Low-Income Housing Tax Credits are awarded has bond attorneys searching for answers in government offices that have been hollowed out through layoffs and retirements.