CAHEC News & Articles

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.

Changes and Challenges in the Builder’s Risk Insurance Market

It’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.

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Bond Financing 101 & Industry Update

Bond 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.

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Partner Spotlight: TowneBank

TowneBank 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.

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New Markets Tax Credit Makes Big Impact in Durham

The 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.

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Resident Spotlight: Shavon Smalls

CAHEC 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.

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Employee Spotlight: Irish Farmer

CAHEC 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.

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Being Prepared for a File Review

I 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?

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Providing Assurance to Tax Credit Investors

Recently, 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.

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Three Nonprofits Receive CAHEC’s Open Doors Homeownership Grant

Since 2004, CAHEC has offered the Open Doors Homeownership Grant to assist nonprofit organizations who develop for-sale affordable housing within our footprint.

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Affordable Housing: One Important Step Towards Creating Safe, Just, and Equitable Communities

There 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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