As one of the leading tax credit syndicators in our region, CAHEC actively participates in dozens of affordable housing and community revitalization projects throughout the Southeast and Mid- Atlantic. Check out our news posts below to learn more about what’s happening here at CAHEC and to find the latest news related to our clients, properties, and residents.
A flight to Germany from Pennsylvania would typically take close to nine hours, but for the senior residents at Academy II Apartments, it was just a short walk to the community room. Earlier this year, the property manager at Academy II, Alison Boga, worked with her supportive services coordinator to come up with a way to show her residents the world. “During covid, so many wonderful places started doing virtual tours, so we thought that would be a great way for us to bring other parts of the world to our property!”
Read MoreOne of the responsibilities of Risk Management at CAHEC is to review risks associated with a development’s site, both man-made and natural. Many tools have been developed and widely used, and our partners are very familiar with them – Phase I Environmental Site Assessments being one of the most universal. Engineers are engaged to visit sites and to research records for hazards on the site, or that are nearby and could impact the site. Most often these identified hazards are man-made - remnants of other land uses, rather than hazards caused by the natural environment.
Read MoreEvery year, National Mental Health Awareness Month is recognized in May to raise awareness of trauma and the impact it can have on the physical, emotional, and mental well-being of children, families, and communities. One organization, Youth Villages, is working hard to shed light on the mental health issues faced by so many in our country.
Read MoreCommercial insurance rates for affordable housing organizations have continued to trend upwards since 2016. While this trend will continue for property coverage, there may be some relief for pricing, conditions and coverage capacity for some other commercial lines of coverage. Below are highlights of the expected commercial insurance market outlook for the affordable housing industry for 2023...
Read MoreThe Women's Affordable Housing Network (WAHN) is an organization committed to the empowerment and development of women who work in affordable housing. Their goal is to create a nationwide network that brings women together from all sectors to carry out its mission. We're excited that employees from two CAHEC entities have played an integral role in the creation of their respective affiliates in North and South Carolina, and currently serve on the leadership teams for each.
Read MoreIt’s no secret that affordable housing organizations today are facing significant financial pressures from nearly every direction. Unfortunately, the challenging insurance market is no exception. While today’s insurance market is seeing significant pricing increases on most lines of coverage, this article focuses on changes and trends we are seeing in the builder’s risk insurance market.
Read MoreBond issues have become an important part of the affordable housing industry in recent years and are an important asset in CAHEC’s growing portfolio. The Low Income Housing Tax Credit (LIHTC) was designed to subsidize either 30% of the project through the 4% program (bond financing), or subsidize 70% of the project through the 9% program.
Read MoreTowneBank started in 1998 with a big dream in a two-car garage in Portsmouth, Virginia: a community-oriented bank focused on key principles that include a commitment to recruiting the very best employees, creating a family atmosphere, engaging local board members, and delivering the ultimate in customer service while providing quality, upscale banking facilities that house the most efficient technology available.
Read MoreThe New Markets Tax Credit (NMTC) Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities. In the case of the Carmichael building at 300 N. Duke St. in Durham, North Carolina, there is no question – it worked.
Read MoreCAHEC is proud to be able to share resident stories, just like Shavon’s, that showcase how affordable housing can positively impact families throughout our footprint.
Read MoreCAHEC has been around for over 29 years, and part of the reason we have been so successful is because of our great partners and residents. The other part of our success is directly attributed to the CAHEC staff, which now includes 47 people.
Read MoreI asked our staff for feedback regarding some of the basic issues that they are seeing while performing compliance file reviews of LIHTC properties and do you know what the top recurring theme was?
Read MoreRecently, we have seen an increasing number of property dispositions within the 15-year compliance period. While the IRS no longer requires LIHTC recapture bonds, many LP’s are hesitant to allow a change in ownership during the tax credit compliance period.
Read MoreSince 2004, CAHEC has offered the Open Doors Homeownership Grant to assist nonprofit organizations who develop for-sale affordable housing within our footprint.
Read MoreThere is no doubt that 2020 will be a year to remember. One of the most important events of the year was the brutal killing of George Floyd by members of the Minneapolis police department and the broad and sustained movement for racial justice that it sparked.
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