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Affordable Home Funding

Alderville gets funding for affordable housing from CMHC

A First Nations family now has an affordable, energy efficient home. Habitat for Humanity in Windsor-Essex partnered with Can-Am Urban Native ...

Detroiters in need of affordable housing are about to lose a lifeline

As the car whizzed past the Alberta King Village in Detroit’s Midtown neighborhood, Jessica Williamson leaned forward.

"Wow-w-w-w," she said, drawing out the second “w.” Pushing a cell phone toward the finger-smudged window, the 9-year-old pretended to snap pictures. 

To many, the village would register as nothing more than nondescript city backdrop — 121 uniform brick units clustered around tidy, clipped lawns, a wreath or potted plant peeking out here and there. 

But to Williamson, her 5-year-old sister Jammie Moore and their mom, Rashiko Washington, Alberta King represented so much more. The community — the houses — signified stability. 

For years the family had been bouncing around the city. With a monthly income of $675 from Supplemental Security Income, daily life was a struggle. The smallest crisis could scuttle any progress toward security.

2018 Spending Plan Boosts Funding for Affordable Housing ...

On March 23, President Trump signed into law the Consolidated Appropriations Act, 2018, a $1.3 trillion spending package that includes a 12.5% increase in low-income housing tax credit allocations over the next four years, along with funding increases for several affordable housing programs. This is welcome news to affordable housing developers who have been facing funding gaps as a result of reductions in the corporate tax rate under the Tax Cuts and Jobs Act enacted in late 2017, which led to reduced pricing from equity investors.

The new law increases the state housing credit ceiling for years 2018 through 2021 by 12.5%, after taking into account applicable cost-of-living adjustments. Also included in the spending package are increased appropriations for tenant- and project-based rental-assistance programs, the public housing capital fund, the HOME Investment Partnerships Program, Community Development Block Grants, and other HUD programs. While these increases will not completely offset the gaps created by the corporate tax rate decrease, they will allow for an increase in production of affordable units.

Which investment funds would invest in a profitable affordable home building company in an emerging market?

None; a publicly traded home builder in emerging markets in a beast virtually unheard of.