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PMIB Freeze Impact Data
Needed |
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The financing freeze on Multifamily Housing Program
and Prop 1C program funds by the state's Pooled Money
Investment Board (PMIB) continues affecting
infrastructure projects throughout the state. The total
impact on San Diego County housing-related projects and
city housing programs is nearly $83 million, with more
than 90% of that total committed to affordable
developments.
Developments affected by the freeze previously
received funding commitments from the CA Department of
Housing and Community Development (HCD). However,
the state does not sell all authorized bonds from
initiatives such as Proposition 1C at one time and,
therefore, the cash to meet State commitments is not
readily available. Passage of the State budget
will not ensure that the committed funds can be released
immediately.
It's reported that transportation and environmental
infrastructure advocates have argued
succesfully that their projects are already
underway and should be the first to receive state funds
as they become available. Since the impact on
affordable housing developments hasn't been documented
as well, housing is not likely to be the first to
receive funds previously frozen. HCD intends to honor
all awards it has made although there is no time-certain
for this action.
We're interested in hearing about projects in the
pipeline or active developments that have received
commitments for MHP, TOD, or Infill Infrastructure
funding and when State funds will be needed to meet the
commitments. Please provide project location,
number of units, targeted residents, committed funding,
and note the impact of the state funding delay. Please
forward information to doris@housingsandiego.org by
Tuesday, February
3.
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Letters Needed Today for
LIHTC |
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The U.S. House of Representatives passed its
version of the economic stimulus package this
week. A similiar proposal is expected to be voted
on in the U.S. Senate (as early as Monday). Since
the proposals aren't the same, they will require a
conference between the houses before a bill is ready for
the President's signature, hopefully in
mid-February. California advocates met this week
to discuss the most critical needs for the tax credit
program in the state.
It is important to let San Diego Representatives
and California Senators Feinstein and Boxer know that
relief is urgently needed for the Low Income Housing Tax
Credit Program. If you've written or called
already, thank you. It is important to contact them
again or, if you haven't yet, do so now. Click here
for a sample
letter. PLEASE SEND TODAY! Sen. Feinstein's
fax is 1-202-228-3954 and Sen. Boxer's is
1-202-224-0454. San Diego County Congressmen
Bilbray, Hunter and Issa all voted against the House
proposal. |
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Comments Due Today on Tax Credit
Regs |
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Comments on proposed changes to Californina's Low
Income Housing Tax Credit allocation program are due
TODAY. TCAC issued the proposals in two
separate memos: December 10
and December 22
. Comments should be faxed to 916-654-6033 by
5 p.m. this
afternoon. |
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National Homelessness Conference
Here |
The 2009 National
Conference on Ending Family Homelessness is coming
to the San Diego Sheraton Hotel and Marina February
12-13. San Diego Grantmakers, through member
partners of the Homelessness Working Group, are making
available a limited number of partial scholarships
(participants pay remaining $ $150). Mail scholarship
requests to San Diego Grantmakers, 4270 Executive
Square, Ste. 200, La Jolla, CA 92037. All requests must
be received by Wednesday, February 4. |
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Register Today for Fair
Housing Conf Discount |
Discounted registration ends today for the 16th
Annual Fair Housing Laws & Litigation Conference
February 12-13 at the San Diego City Concourse.
The conference includes sessions on discrimination
against those with disabilities, housing elements,
design and construction, sex discrimination in housing,
and other civil rights issues. It will commemorate the
50th anniversary of California's Fair Employment and
Housing Act. Contact the Fair Housing Council of San
Diego or click here for
more information.
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Annual Real Estate Conf February
18 |
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The University of San Diego's Burnham-Moores Center
for Real Estate will host its 13th Annual Real Estate
Conference Wednesday, February 18 from 7:30 a.m. to
11:30 a.m. at the San Diego Marriott Hotel & Marina.
This half-day conference will feature keynote presenter
Richard K. Davis, CEO, U.S. Bancorp in Minneapolis, as
well as some of the nation's leading bankers,
institutional investors, hedge fund managers, mortgage
bankers and workout specialists. To register, click here. | |
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| February
Roundtable |
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Finance &
Development
Strategies for
A Challenging
2009
SOLD
OUT
Affordable Housing
Roundtable Thursday, February 5
7:30 a.m. to 10:30 a.m.
NTC Command Center
Pt. Loma
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