Affordable housing bonds

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.

Other debts are piling up that could make it harder to craft a solution favorable to holders of the affordable housing bonds, the trustee said.

The Connecticut Housing Finance Authority will price the housing mortgage finance program bonds through negotiation.

Public facilities and electric power were the sectors with the biggest declines.

Fitch Ratings upgraded California general obligation bonds to AA from AA-minus, the state's first upgrade in three years.

The university scaled back its parking and commercial leases at the public-private student housing project, which is dipping into its debt service reserve.

The two suburban affordable housing portfolios are owned by the Ohio-based Better Housing Foundation.

RBC Capital Markets added Ian Parker as it positions itself to help issuers bring to market billions of dollars in authorized affordable housing debt.

Better Housing Foundation defaulted on $84 million of bonds and lacks funds to maintain the properties.

Lawmakers are plowing through a pile of trailer bills, including two tax increases, that must pass to avoid blowing a hole in their $214.8 billion budget.

The troubles of the Better Housing Foundation bonds had been flagged in earlier rating downgrades and disclosure statements.

The New York City Housing Development Corp. intends to issue up to $1.1 billion of multi-family housing revenue bonds and provide roughly $27 million of additional financing.

Robert “Bob” Larson, who died on April 27 after a yearlong battle with cancer, is remembered as a dedicated public servant who continued to work until his passing.

The debt service reserves for the Better Housing Foundation deals were drained to make the last bond payment.

Municipal bond buyers will be seeing more than $5 billion of supply headed into the market.

The clarification allows dozens of otherwise stalled housing projects around the nation to move ahead with financing that includes a combination of tax exempt multifamily PABs and the 4% federal housing tax credit.