Affordable housing bonds

The Affordable Housing Credit Improvement Act last week achieved a milestone by garnering bipartisan cosponsorship by more than half of the 435 members of the House.

S&P Global Ratings is postponing a March 31 forum on public housing bonds due to concerns about the outbreak of COVID-19.

The Illinois attorney general's office is also believed to be looking into the foundation, which issued $170 million of tax-exempt bonds that have defaulted.

Rep. Peter DeFazio said gas tax revenue could finance $500 billion in Treasury bonds.

Bankruptcy hearings are underway for Lindan Properties, one of five troubled bond-financed Better Housing Foundation affordable housing portfolios in the area.

Newsom highlighted programs to combat homelessness in his annual address.

The Community Preservation Corp. says its inaugural sustainability offering is the single largest bond sale by a community development financial institution.

The state conduit that issued $170 million of defaulted Better Housing Foundation bonds is weighing in as S&P prepares housing bond criteria changes.

A proposed asset sale would resolve — with a loss for bond investors — one of five Better Housing Foundation-owned portfolios in default in the Chicago area.

The city comptroller, assailing what he called a "gentrification industrial complex," proposed measures including eliminating a state tax subsidy program.

The New York City Housing Development Corp. plans to issue $375 million of housing impact bonds, a new category of sustainable development bonds.

The San Diego City Council approved a resolution asking staff to craft language for a $900 million affordable housing bond.

Rhode Island's governor is asking lawmakers to forward $269 million worth of initiatives to voters.

The Better Housing Foundation's Chicagoland suburban bond portfolios are now experiencing bond covenant and payment defaults.

Bob Labes, a partner at Squire Patton Boggs, explores the growth of multifamily housing bonds, private activity bond caps, the RAD program and other dynamics. Paul Burton hosts.

The state should allocate $4 billion, the majority of its 2020 private activity bond allocation, to affordable housing, said the California Housing Consortium.

The deal, issued through the California Housing Finance Agency, is the first multifamily tax-exempt deal to qualify for the GSE's Green Rewards program.

The agency's repair backlog is measured in the tens of billions of dollars.

Next week's $500 million taxable revenue bond deal is backed by a 1% surcharge on annual incomes higher than $1 million.

Richard "Ad" Eichner was known as a pioneer for his work in multifamily housing and tax-exempt charter school bonds.