Affordable housing bonds

St. John's Lutheran Church in Madison is redeveloping its property to build affordable housing blocks from the Capitol in the booming East Washington corridor.

The new law was modeled after a North Carolina law and its use in Charlotte, said Matt Wiltshire, president of Pathway Affordable Housing Corporation, which works to develop affordable rental housing in Nashville.

States are increasingly turning to public-private partnerships with developers to create new workforce housing so residents can afford to live where they work.

The aim of the program was to create affordable moderate-income housing more quickly by acquiring existing apartment communities and converting the units to below-market-rate as existing tenants moved out.

"What we saw in 2023 was a large surge of issuers coming back into the single-family bond market," said Kurt van Kuller of Sit Investment Associates.

Inflows continued for the third consecutive week as LSEG Lipper report fund inflows of $295.5 million for the week ending Wednesday with high-yield hitting the 10th consecutive week of positive flows.

BofA Securities is the latest firm to scoop up former employees from Citi, which decided to shutter its muni division late last year.

One investor is offloading the debt, while another sees an opportunity.

The North Dakota Housing Finance Agency recently priced $189 million of bonds for its home mortgage finance program, a sector in which issuance has increased.

Telluride town and its schools both issued debt to fund 'workforce housing' for teachers and public servants who can't afford multi-million dollar real estate.

In her State of the County address, Mayor Daniella Levine Cava unveiled plans to invest in housing, septic to sewer conversions, flood prevention, parks and other infrastructure.

Affordable housing expert Marian Zucker retired on Dec. 1 as head of S&P Global Rating's housing group after over 40 years of working in the public and private sectors of the municipal bond industry.

Justin Cooper, Orrick's co-head of public finance, breaks down how states like Oregon, Washington and California are funding efforts to lessen their affordable housing and homelessness crises. Keeley Webster hosts (24 minutes)

The California governor is this week signing bills to alter the state's mental health policies in a package that includes a $6.3 billion state bond measure.

Peter Lam has served as bond counsel to state and local issuers for public and privately placed bond issuances.

Mohamed Balla, Atlanta's CFO, talks about housing bonds and his participation in the recent National Association of Security Professionals' annual conference. Thomas Nocera hosts. (22 minutes)

The new California Housing Finance Agency credit pools multifamily housing loans.

Charles Treece and Azer Akhtar in Washington, D.C., and Jennifer Santangelo in Philadelphia have become partners at Ballard Spahr.

City officials believe the structure of the $100 million issuance will help assuage investors concerned with inflation, high interest rates, and the specter of recession.

Public sector employers are in a fierce competition with the private sector for workers and may be losing amid labor shortages and inflation.