Affordable housing bonds

Affordable housing got a boost this week when the City Council approved tax-exempt financing for a commercial real estate firm's purchase and renovation of a large apartment complex on the city's western edge.

The Sacramento Housing and Redevelopment Agency plans to issue up to $25 million in tax-exempt mortgage revenue bonds to finance the renovation of 74 low-income housing units in south Sacramento. The financing does not include the addition of any new affordable housing units.

The tax fix is being lost in the rush by Congress to enact a temporary spending measure to keep the government operating through Feb. 8.

The Internal Revenue Service has told bond attorneys that the law doesn’t explicitly say that veterans are a special needs population under the rules for the tax-exemption for multifamily private activity bonds.

Such "granny flats" may be the next frontier for PACE financing.

Proceeds from a $40.64 million multifamily conduit revenue bond issue will benefit the residents of the Georgia King Village Project.

The District of Columbia Housing Finance Agency priced $74.5 million of tax-exempt bonds.

State Auditor Elaine Howle said the state's housing department's oversight of bond expenditures is inconsistent.

Municipal bond market participants offered their views on how California will confront housing, education and transportation challenges.

The city has $260 million in unspent bond authority that could go to housing, said Mayor London Breed.

Thirty states told the Council of Development Finance Agencies they issued mortgage revenue bonds in 2017 compared to only 18 that issued mortgage credit certificates.

States reported a 20.2% jump in the issuance of private activity bonds from the $20.4 billion issued in 2016.

In his in final days as California Treasurer, John Chiang talks housing, green bonds and regulatory reforms as legacy items for his time in office. Keeley Webster hosts.

Builders’ confidence in the market for new single-family homes was steady this month, according to the National Association of Home Builders.

The authority hasn't sold bonds since 2010.

Tom Wynne is leading a new housing financing initiative in the West and Michael Colton is joining the New York team.

Gov. Kate Brown says the plan would reduce child and veteran homelessness and accelerate the construction of new housing.

Owners of a Los Angeles complex had argued that their duty to provide affordable units ended when bonds were paid off.