Yearly Archives: 2017

National Council of State Housing Agencies (NCSHA) President Grant S. Whitaker testified before the U.S. Senate Committee on Finance during an August 1 hearing on “America’s Affordable Housing Crisis: Challenges and Solutions.” Whitaker addressed the nation’s critical need for affordable housing and the roles the Low Income Housing Tax Credit (Housing Credit) and tax-exempt private activity Housing Bonds (Housing Bonds) play in responding to that need.

The Department of Housing and Urban Development (HUD) published on August 9 its Worst Case Housing Needs: 2017 Report to Congress, showing that 8.3 million unassisted very low income households in America spend more than half of their income on their housing, live in severely substandard housing, or both. The number of households experiencing this “worst case housing” has increased by 41% since 2007 and by 66% since 2001. We are experiencing an affordable housing crisis of unprecedented proportions.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Goodwill property located at 1715 Wisconsin Avenue in Grafton, Wisconsin for $3,074,400.

Wind energy costs are lower than ever, with steady advances in technology and better wind turbine performance, according to three new reports released by the U.S. Department of Energy (DOE). New DOE reports include the “2016 Wind Technologies Market Report,” the “2016 Offshore Wind Technologies Market Report,” and the “2016 Distributed Wind Market Report.”

The Real Estate Standards Organization, or RESO, announced the biggest update in the history of its RESO Data Dictionary, which serves as the real estate industry's “Rosetta Stone” by creating a common language that allows real estate data to be more easily understood and shared across all technology systems, with the release of its 1.6 update.

International award-winning KTGY Architecture + Planning unveiled today the planning and design for a new Experiential Urban Lifestyle development in the City of Westminster, California. Currently called Bolsa Row, the new project will serve as the prominent gateway to “Little Saigon,” the largest Vietnamese community in the U.S., and one of Orange County’s fastest growing treasures. Bolsa Row is being developed by IP Westminster, LLC, led by Joann and Bac Pham, a developer with hotels in Garden Grove and other nearby cities.

The Building Owners and Managers Association (BOMA) International honored four of its members with the Regional Member of the Year Award during the 2017 BOMA International Conference & Expo in Nashville, Tennessee, in late June. Regional Member of the Year Awards are given annually to BOMA members who have demonstrated an outstanding commitment and contribution to both the association and the commercial real estate industry.

The number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015, according to a new report released today by the U.S. Department of Housing and Urban Development. HUD reports that in 2015, 8.3 million very low-income unassisted families paid more than half their monthly income for rent, lived in severely substandard housing, or both.

An Aug. 16 symposium in downtown Philadelphia will explore how knowledge and skills alone won't improve a person's financial situation; policies, programs and financial products are necessary to promote prosperity for more individuals and families.

Suniva and SolarWorld have failed to show that a rising level of imports caused them serious injury and left them unable to compete in the U.S. market, the Solar Energy Industries Association (SEIA) and others stated in pre-hearing written arguments to the U.S. International Trade Commission (ITC).  If the ITC agrees with SEIA’s arguments, such a failure would result in an ITC finding of no injury, ending the case.

This new book is a valuable resource for those who want to keep up and stay ahead of the newest ideas and trends in commercial real estate, Appraisal Institute President Jim Amorin, MAI, SRA, AI-GRS, wrote in the books foreword

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), released the following statement on the bipartisan introduction of the SAFE Transitional License Act in the U.S. Senate. The bill (S. 1753) was introduced and originally co-sponsored last week by Senators Dean Heller (R-NV) and Bob Menendez (D-NJ). Substantially similar bipartisan legislation (H.R. 2948) was introduced in the U.S. House of Representatives in late June, and originally cosponsored at that time by Reps. Steve Stivers (R-OH), Bruce Poliquin (R-ME), Joyce Beatty (D-OH), and Kyrsten Sinema (D-AZ), respectively.

The Alliance to Save Energy released the following statement from President Kateri Callahan lauding the National Conference of State Legislatures (NCSL) for adopting a resolution Monday urging the U.S. Congress to fully fund the Department of Energy’s (DOE) appliance and equipment standards program. The resolution also seeks to ensure that the Department meets its statutory obligations to update energy efficiency standards regularly and to enforce manufacturer compliance with such standards

PHH Corp. PHH Mortgage Corp. and PHH Home Loans (collectively, PHH) have agreed to pay the United States $74,453,802 to resolve allegations that they violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA), guaranteed by the United States Department of Veterans Affairs (VA), and purchased by the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) that did not meet applicable requirements, the Justice Department announced today.

The countdown to the grand opening has begun for VITAE, a collection of 20 detached single-family homes in the heart of Costa Mesa, developed by Newport Beach-based Planet Home Living and designed by international award-winning KTGY Architecture + Planning of Irvine. KTGY and Planet Home Living have partnered on many successful small-lot communities around the greater Los Angeles area.

In a further sign that the housing sector is continuing to gain momentum, nearly 300 markets nationwide posted an increase in economic and housing activity from the first quarter to the second quarter, according to the National Association of Home Builders/First American Leading Markets Index (LMI) released today

Members of the National Association of Home Builders (NAHB) Building Systems Councils are celebrating Building Systems Week from Aug. 7 - 11 This week-long event aims to educate NAHB members and consumers on the advantages of systems-built homes as opposed to traditional stick building.

VA Secretary David J. Shulkin announced an extension of funding to organizations that applied for Fiscal Year 2018 grants under VA’s Homeless Providers’ Grant and Per Diem Program, but would be found ineligible due to new program guidelines.

The DC Department of Housing and Community Development (DHCD) closed two loan agreements totaling more than $4.2 million that will help preserve 33 affordable housing units in Ward 4 for tenant organizations that invoked their purchase rights through the Tenant Opportunity to Purchase Act (TOPA). The funding was made available through the Housing Production Trust Fund (HPTF).

Fort Myers, Florida – Acting United States Attorney W. Stephen Muldrow announces that Twaski Jackson (38, Lee County) today pleaded guilty to a two count information charging him with stealing and embezzling thousands of dollars from the City of Fort Myers Housing Authority and the Lee County Housing Authority.