Protecting Affordable Housing Rental Properties from Abusive Behavior: Addressing an Alarming Trend in the LIHTC Industry
Release Date: 02/18/2021
Asset Management with April and Miranda - The Developers Perspective on AM
Advancing Communities
Cinnaire’s Advancing Communities Podcast includes a special asset management series called AM With A&M. Asset management experts April Priebe (A) and Miranda Bialk (M) bring together thought leaders, policy makers, and others to discuss issues, share strategies and provide resources to professionals working in the field of asset management (AM). In this month’s podcast, April and Miranda invite Joseph Hankes, Senior Asset Manager for the Wisconsin Housing Preservation Corp. to talk about asset management from the developer's perspective. As a senior asset manager, Joseph is responsible...
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Episode 2 Beth Baar Special Guest
Advancing Communities
Cinnaire’s Advancing Communities Podcast includes a special asset management series called AM With A&M. Asset management experts April Priebe (A) and Miranda Bialk (M) bringing together experts in the asset management industry to discuss issues, share strategies and provide resources to professionals working in the AM field In this month’s podcast, April and Miranda invite Beth Baar, Manager, Construction & Lease Up with Cinnaire to explain the vital role Asset Management plays within the affordable housing industry. She discusses the importance of having open...
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Asset Management with April and Miranda
Advancing Communities
Introduction to Asset Management with April and Miranda In their new series on Cinnaire's Advancing Communities podcast, AM With A&M, April Priebe (A) and Miranda Bialk (M) will be introducing listeners to the world of asset management (AM). April is an asset manager for Cinnaire’s special assets and Miranda is an asset manager for construction and lease up. Together they have over 22 years of experience working in affordable housing, specifically with property and asset management. The AM With A&M podcast is designed to discuss...
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Advancing Communities Podcast: Repositioning Public Housing - Understanding RAD and Its New Guidelines
Advancing Communities
Cinnaire’s Advancing Communities Podcast 2023 Episode 2 brings together Monty Childs, Senior Vice President, Cinnaire, with thought leaders, policy makers, and developers who are making an impact on the community development and affordable housing industries. In this episode, Monty moderates a panel discussion on how Housing Authorities can reposition and restructure their portfolios to make them more affordable and successful. Panel experts include Peter Levavi, Executive Vice President, Brinshore Development; Karly Brinla, VP of Development, Brinshore; Ron Clewer, Illinois Market...
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Just Action Book Discussion with Author Richard Rothstein
Advancing Communities
The Advancing Communities Podcast features Cinnaire team members conversations with thought leaders, policy makers and others who are making a difference in the community development industry. In this episode, Chris Neary, Cinnaire SVP Policy, Research and Advocacy, sits down with Richard Rothstein, the author of two important books -- The Color of Law: a Forgotten History of How our Government Segregated America, and a new book Just Action: How to Challenge Segregation Enacted Under The Color of Law. In The Color of Law, Richard provided a convincing and...
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Jumpstart Wilmington: Program Graduates Jumpstart Development in Wilmington
Advancing Communities
Cinnaire’s Advancing Communities Podcast brings together our Chief Strategy Officer, Jim Peffley, with thought leaders, policy makers, and others who are making an impact in the community development and affordable housing industries. Our guests share their experiences and perspective on a range of topics, each supporting the belief that all people deserve the opportunities provided by living in healthy communities. In this episode, Jim sits down with Dionna Sargent, Vice President of Community Development at Cinnaire who launched Jumpstart Wilmington, a program that was...
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Jumpstart Wilmington: Training Program Provides Aspiring Developers Skills and Resources to Build Wealth and Revitalize Neighborhoods
Advancing Communities
Each month, Cinnaire’s Advancing Communities Podcast brings together our Chief Strategy Officer, Jim Peffley, with thought leaders, policy makers and others who are making an impact in the community development and affordable housing industries. Our guests share their experiences and perspective on a range of topics, each supporting the belief that all people deserve the opportunities provided by living in healthy communities. In this episode, Jim sits down with Ken Weinstein, founder of Jumpstart Germantown, and Dionna Sargent, Vice...
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Private Equity Investors Seeking Windfall Returns at Y-15 - Opa-Locka CDC Wins Key Lawsuit in Florida
Advancing Communities
In this episode of the Advancing Communities Podcast, Cinnaire’s Chief Strategy Officer Jim Peffley continues his three-part series examining a growing crisis in the affordable housing industry where private equity funds or other investors are seeking above windfall returns at Year 15. By ignoring Right of First Refusal agreements and forcing owners to either make large payments to retain ownership or force a sale, these profit motivated investors are jeopardizing mission-focused organizations and our nation’s affordable housing stock. ...
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IMPACT JOBS: CDFIs 101 for Young Professionals
Advancing Communities
Each month, Cinnaire’s Advancing Communities Podcast brings together our Chief Strategy Officer, Jim Peffley, with thought leaders, policy makers and others who are making an impact in the community development and affordable housing industries. Our guests share their experiences and perspective on a range of topics, each supporting the belief that all people deserve the opportunities provided by living in healthy communities. In this episode, Jim sits down with a panel to discuss CDFIs101, a virtual learning and networking series developed to bring young diverse professionals –...
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When investors seek windfall returns from affordable housing, underserved communities pay the price – The Stockholm Manor Story and Its Implications for Affordable Housing Nationwide
Advancing Communities
The Low-Income Housing Tax Credit (LIHTC) Program has been a significant source of new multifamily housing for more than 20 years, providing more than 2.2 million units of affordable rental housing. As LIHTC investments mature, however, the affordable housing industry is becoming alarmed at growing efforts by private equity and other investors to secure unplanned payments as a condition for exiting the investment, threatening the properties’ long term affordability and draining resources from mission-focused organizations. In this episode of...
info_outlineIn this episode of Cinnaire’s Advancing Communities Podcast, Cinnaire’s Chief Strategy Officer Jim Peffley is joined by NASLEF’s Bobby Rozen, a longtime advocate for affordable housing in Washington who was involved in the crafting of the original Low Income Housing Tax Credit (LIHTC) program in 1986 and has been closely involved with the evolution of the program over the past 30 years.
Jim and Bobby discuss an alarming and growing trend in the LIHTC industry – efforts by private sector entities seeking to extract additional capital from owners or developers of affordable rental properties beyond the tax credits the program was designed to provide. These profit motivated investors have come to view the nation’s affordable housing stock as a source of capital and above market returns to the detriment of people the LIHTC program was designed to serve. Listen in to this thought provoking and informative discussion where Jim and Bobby describe these problematic trends, discuss their implications and strategize ways the industry can address these challenges to protect our affordable housing stock and the communities we serve.
During the conversation, Jim and Bobby cover:
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A brief overview of the Low Income Housing Tax Credit (LIHTC) Program and its structure for investments
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The trend of private equity investors acquiring syndicators to leverage limited partner interests and extract capital from properties beyond the intended tax benefits
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Potential implications for the nation’s affordable housing stock as capital is extracted for profit
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How owners and developers of affordable rental housing can protect themselves and their partnership agreements
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Current efforts underway to address the challenge and preserve affordable housing and LIHTC investments