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NAA Education Institute Announces NEW Certified Apartment Maintenance Technician (CAMT) Designation Program

The NAA Education Institute (NAAEI) recently delivered the new curriculum for its Certified Apartment Maintenance Technician (CAMT) designation program, designed to meet the needs of today’s apartment maintenance professionals.

The new CAMT curriculum has a total of 70 hours of classroom training and seven hours of online learning. CAMT training includes seven courses: two non-technical online courses and five technical courses with hands-on classroom training followed by online practice scenarios.

Non-Technical Courses:
• Inside the Apartment Business
• People, Projects and Profits

Technical Courses:
• Electrical Maintenance and Repair
• Plumbing Maintenance and Repair
• Heating, Ventilation and Air Conditioning Maintenance and Repair
• Appliances Maintenance and Repair
• Interior and Exterior Maintenance

These courses may be taken as standalone seminars or in full to earn the industry designation. Click below to learn more about earning the CAMT designation or contact NAAEI at education@naahq.org.

click for web site

Headlines

Association News

NAA Education Institute Announces NEW Certified Apartment Property Supervisor (CAPS) Designation Program
NAA Education Institute Announces NEW Certified Apartment Manager (CAM) Online
Register to Attend the 2008 NAA Accessibility Conference in November
Register to Attend the 2009 NAA Green Conference & Exposition scheduled for April 28-29, 2009 at The Phoenix Convention Center–LEED Certified, Phoenix

Industry News


"Affordable-Housing Goals Scaled Back"
"Homeownership Mission Vulnerable After Rescue Housing Advocates: Will Profitability Trump Mission?"
"Housing Act Simplifies HUD"
"Sources Grapple With Green"
"Green--Affordably"
"Sixteen to Go Green"
"Disaster Tax Relief Moving"
"Affordable Builders Escape Worst of the Market Woes"
"United States: Low-Income Housing Credits Present An Investment Opportunity"
"Downturn Inspires City's Affordable Housing Groups"
"Bill in Legislature Could Create $10M Affordable Housing Fund"
"Economy Dragging on Low-Income Home Plans"
"More Are Going 'Mobile'"
"County Doubles Housing Fee for Builders"


Association News

NAA Education Institute Announces NEW Certified Apartment Property Supervisor (CAPS) Designation Program

The NAA Education Institute also has delivered the new curriculum for its Certified Apartment Property Supervisor (CAPS) designation program, designed for industry professionals who have experience in managing multi-site properties and for those professionals with experience as community managers.

The new CAPS curriculum is a weeklong classroom training event with five, eight-hour courses.

New curriculum courses include:

• Legal Responsibilities and Risk Management
• Financial Management
• Property Performance Management
• Property Evaluation and Due Diligence
• Effective Leadership

These courses may also be delivered as seminars or in full to earn the industry designation. Click below to learn more about earning the CAPS designation or contact NAAEI at education@naahq.org.
click for web site | Return to Headlines

NAA Education Institute Announces NEW Certified Apartment Manager (CAM) Online

The NAA Education Institute is pleased to announce that its Certified Apartment Manager (CAM) designation program is now available online. The program, including the CAM Community Analysis, is delivered in an online, self-paced module designed for busy professionals. CAM Online students have access to a 24/7 Technical Help Desk and the ability to direct questions regarding the curriculum or course content to an instructor. Click below for more information about CAM Online.
click for web site | Return to Headlines

Register to Attend the 2008 NAA Accessibility Conference in November

Join NAA in Dallas for the 2008 NAA Accessibility Conference:
November 12, 2008
8:00 a.m. – 4:00 p.m.
The Westin Galleria Dallas

This conference will focus on:
• The recently released joint statement from the Justice Department/HUD, “Reasonable Accommodations Under the Fair Housing Act,” from which attendees will learn to avoid discrimination claims for refusal to make reasonable accommodations;
• Trends in accommodations and modifications and how to handle complicated requests;
• Accessibility cases and lawsuits recently filed or decided, with testimony from the attorney who successfully argued the Garcia case; and
• A Best Practices Resources discussion involving companies who have experience being sued.

Click below for additional details or to register. click for web site | Return to Headlines

Register to Attend the 2009 NAA Green Conference & Exposition scheduled for April 28-29, 2009 at The Phoenix Convention Center–LEED Certified, Phoenix

NAA will host its first green conference, assembling experts from all sections of the green building/management movement—green development (general green, mixed-use and transit-oriented), green building criteria, green marketing and green property management—so attendees will come away with a complete understanding of how green will affect and potentially benefit their multifamily housing properties.
In addition to the education sessions, the conference will feature a state-of-the-art trade show for apartment industry suppliers to showcase their valuable green products and services.
Click below for additional details or to register. click for web site | Return to Headlines

Industry News

"Affordable-Housing Goals Scaled Back"
Washington Post (09/24/08) P. A11; Goldfarb, Zachary A.

Fannie Mae and Freddie Mac will continue to support affordable housing, although the companies will finance fewer mortgages for people with low and moderate incomes for the second consecutive year, according to Federal Housing Finance Agency director James Lockhart. His comments came during testimony before the Senate Banking Committee. Lockhart did not reveal whether the companies would contribute to the housing trust fund that Congress set up earlier in the year to help low-income people buy and rent homes. He said he would make a decision "only after a careful and thorough review of existing conditions."
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"Homeownership Mission Vulnerable After Rescue Housing Advocates: Will Profitability Trump Mission?"
Virginian-Pilot (09/14/08) P. D1; Appelbaum, Binyamin; Merle, Renae

When the federal government assumed control over Fannie Mae and Freddie Mac this summer, it also assumed two of the companies' largest obligations. One of those obligations was the creation of an affordable-housing trust fund that would be given to states to support the creation and preservation of low-cost housing. The fund is supposed to be financed by a 4.2 cent fee Fannie Mae and Freddie Mac paid the government for every $100 in new loans they purchased from lenders as part of another program to refinance the mortgages of distressed homeowners. The funding is supposed to begin flowing to the affordable-housing trust fund in 2010 when the refinancing program winds down. But now that Fannie Mae and Freddie Mac have been taken over by the federal government, Federal Housing Finance Agency Director James Lockhart has the ability to suspend those contributions in order to preserve the financial health of the two companies. Such a move could be supported by the administration. Last year, the Department of Housing and Urban Development--which regulated Fannie Mae and Freddie Mac at the time--accepted the companies' argument that they were unable to meet their affordable-housing goals because of their financial situation. As a result, some affordable housing advocates are expressing concern that the government will put the financial health of Fannie Mae and Freddie Mac ahead of goals to create affordable housing by delaying funding for the affordable-housing fund. Although affordable housing advocates say that Fannie Mae and Freddie Mac could be in better financial shape in 2010 when the financing is supposed to start flowing to the affordable-housing fund, they are beginning to put pressure on Congress to find other sources of money for the fund.
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"Housing Act Simplifies HUD"
Multi-Housing News (09/08)

The Housing and Economic Recovery Act of 2008 that was signed into law on July 30 features several new provisions on multifamily programs overseen by HUD (Department of Housing and Urban Development). The changes involve such things as simplifying processing for projects that are also funded by the Low Income Housing Tax Credit (LIHTC) program. Other changes include slashing the costs of compliance reporting by abandoning duplicative requirements among programs. The new law requires that HUD deploy procedural and administrative changes within six months to make HUD's approval process for FHA-financed projects more efficient. The law also calls for HUD to consult with the IRS in an effort to streamline the handling of rules, regulations, forms, and approval requirements for the funding of FHA-insured tax credit projects. For the Section 8 project-based program, the housing act increases the maximum contracts from 10 to 15 years and allows the public housing agency (PHA) to extend the contract for up to 15 years. The housing agency can, at its discretion, set LIHTC project rents at the higher rent, subject to the rent reasonableness test, if the LIHTC rent is lower than the voucher rent. The maximum rent cannot be less than the initial rent under the initial Section 8 voucher contract. Also, HUD subsidy layering review is now no longer required for an existing structure, or if the review has already been conducted by the applicable state or local agency. The act also establishes clearer standards for voucher rent reasonableness for projects using LIHTC. For the Section 8 Moderate Rehabilitation program, the act repeals the prohibition against using LIHTCs in projects developed under the program.
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"Sources Grapple With Green"
Multi-Housing News (08/08) P. 202; Foong, Keat

In the future, apartment developers may be able to secure better terms from a lender if they build green structures. Debt and equity capital sources are both aware that sustainable construction is desirable, and may eventually desire to participate in the space. Green portfolio investment is gaining "traction with equity investors" who "want to be part of a 100 percent green portfolio," says Paul M. Cummings, senior vice president, Tax Credit Syndication, Enterprise Community Investment Inc. PNC Real Estate Finance senior vice president William Lashbrook III asserts that, "If an investor is looking at two [similar] investments, and one has green attributes, he will have a preference to place it in his portfolio if it does not cost more to do so." Capital providers that are able to quantify projects' economic benefits could lead to green financing schemes where better terms for the projects are available. Green projects could slash operating costs or reduce resident turnover. A group called Capital Markets Partnership recently launched the Green Building Mortgage Underwriting Standards. A first draft of the underwriting standards has been readied, and could potentially be implemented by the end of 2008, says Tomek Randio, CEO of mortgagegreen, Inc. and a member of the partnership. Enterprise was the first company in the country to form a green building program. Enterprise exceeded its first targets for the Green Communities program, and has pledged more than $570 million so far in grants, equity, and debt financing. A total of 250 LIHTC properties are targeted under the program.
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"Green--Affordably"
Chicago Tribune (09/21/08) Greene, Chuck

The market for environmentally friendly homes is projected to pick up in coming years, with industry officials suggesting this segment of housing could account for 12 percent of all new residences by 2012. The growth is not unexpected, according to Cindy Holler of Chicago-based Mercy Housing Lakefront--one of the biggest national nonprofits focused on affordable housing--who says public awareness of "green" issues has been on the rise for the past five or 10 years. The gravitation toward green, she says, can be blamed largely on escalating energy and gas prices and is especially strong among lower-income households, which funnel nearly 17 percent of their income into such expenses. Also adding to the growing popularity of green living is the fact that the cost of eco-friendly technology, including solar panels, is coming down. Moreover, research from Columbia, Md.-based Enterprise--which provides financing and technical aid to builders of affordable housing--shows that green homes can produce significant financial savings from lower energy and water consumption while also contributing to the improved health of occupants.
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"Sixteen to Go Green"
Health Risk Factor Week (08/05/08) P. 202

Sixteen affordable housing developers in Ohio will receive funding for constructing "green" homes for low-income people. The funding was allocated by the Ohio Green Communities initiative, which comprises the Ohio Housing Finance Agency, the Ohio Capital Corporation for Housing, Enterprise, and the National City Community Development Corporation. Funding is supplied primarily through low-income housing tax credit (LIHTC) equity awarded by OHFA on projects that meet the Enterprise Green Communities criteria. "Our partnership is making a mark on Ohio that is sustainable, energy-efficient, and designed for people who need cost-effective, healthy homes the most," said Mark McDermott, central region vice-president and homeownership project director of Enterprise Community Partners. The 16 projects will feature such things as water-conserving appliances and fixtures, energy efficient heating and cooling systems, indoor materials that emit less pollutants than conventional materials, mold prevention measures, and home maintenance guidance for residents and staff. Each project has a minimum of 25 apartments intended for people earning 60 percent or less of the area median income. Enterprise has raised and invested more than $9 billion in equity, grants and loans to help build or preserve more than 240,000 affordable rental and for-sale homes. Enterprise is currently investing in communities at a rate of $1 billion a year.
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"Disaster Tax Relief Moving"
Baton Rouge Advocate (LA) (09/29/08) Shields, Gerard

Congress has passed a disaster tax-relief package that, among other things, would allow homeowners to deduct more of their losses from hurricanes Gustav and Ike. Under current rules, homeowners are able to declare only damage that is more than 10 percent of their adjusted gross income. Under the new measure, the income requirement would be dropped, meaning homeowners could deduct all of their losses over $100. The bill also would allow businesses to declare losses in the year they occurred, and allow the use of tax-exempt bonds to finance loans of up to $150,000 for repairing chief residences damaged in areas declared disasters by the president. The legislation calls for extending bond financing for businesses that sustained damage as a result of a federal disaster. And the bill would allocate additional low-income housing tax credits for states in federally declared disaster areas.
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"Affordable Builders Escape Worst of the Market Woes"
Crain's New York Business (09/15/08) P. 26; Luxenberg, Stan

Despite the credit squeeze, affordable housing builders are continuing to launch projects, although at a slower pace. These projects are moving forward because of the availability of both tenants and funding, which usually comprises a public/private blend. Blue Sea Development Co. is abandoning nonessential features like landscaped plazas to make projects more viable, says Les Bluestone, a partner in the company. Blue Sea forecasts that its next project in Harlem will cost $16 million, of which tax credits will likely provide about $3.7 million, he says. Freddie Mac recently committed $74 million to refurbish the 1,527-unit Linden Plaza complex in Brooklyn, N.Y., which is for income-restricted tenants. "When we finish an affordable project with 50 units, 3,000 people will apply for the apartments," observes Michael Lappin, president of Community Preservation Corp. During the fiscal year ended in June, the number of affordable units completed fell just 8 percent to 17,008, according to New York City's Department of Housing Preservation and Development. In contrast, the number of permits issued in the city for conventional residential construction during the first five months of 2008 fell 43 percent from the year earlier period, according to the Census Bureau.
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"United States: Low-Income Housing Credits Present An Investment Opportunity"
Mondaq (09/10/08) Moeling, Walt; Knudson, Kathryn; McAlpin, Jim

The federal Low-Income Housing Tax Credit (LIHTC) is available to investors, including banks, over a ten year period. The credit is based on a percentage of the cost of construction of a multifamily apartment complex. Investments in LIHTC partnerships have shown to be beneficial to banks over the past three decades. The yields for LIHTC investments can currently reach 7 percent, a significant increase over the yields available 12 months ago as a result of the withdrawal of Fannie Mae and Freddie Mac from the LIHTC investment market. LIHTC projects have historically seen an extremely low foreclosure rate as a result of the low loan to value ratio. This is a result of the greater equity available to these projects, such as from Georgia's state-level low-income housing tax credits and North Carolina's 0 percent interest tax credit loan program. Because foreclosures would lead to a recapture of the LIHTC for which the developer is personally liable, the projects are essentially financed on a recourse basis. The recently enacted "Housing Assistance Act of 2008" has modifications intended to provide greater liquidity in the LIHTC marketplace and facilitate the transfer of investments in LIHTC funds without triggering recapture.
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"Downturn Inspires City's Affordable Housing Groups"
Portland Business Journal (OR) (09/29/08) Culverwell, Wendy

A disintegrating residential real-estate market and the growing gap between wages and house prices are spurring Portland, Ore., affordable-housing developers to push even harder for low-income housing. Between 1990 and 2008, median family income in the city rose 82 percent, from $37,100 to $67,500, the Portland Development Commission reports. The median home price increased by over 250 percent during that time, prohibiting affordable housing to a larger number of Oregonians. The median home price is currently $283,000, compared to $79,700 in 1990. Habitat for Humanity's 34 Oregon affiliates--including Portland's--have built 750 houses, which are sold at cost to low-income purchasers, and are trying to reach 1,000 homes by 2010. In addition, the Portland Development Commission is promoting affordable housing by giving out more mortgages, offering down-payment aid, and providing a mortgage credit that converts mortgage interest into a tax credit and lowers the price of borrowing money. The program started in June and has already approved seven applications. The commission wrote 41 mortgages for the year that just concluded, up from 14 the year before.
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"Bill in Legislature Could Create $10M Affordable Housing Fund"
Gettysburg Times (09/18/08) Messeder, John

The Pennsylvania House Commerce Committee is considering legislation to create an Affordable Housing Trust Fund that would provide $10 million per year to help local governments get more struggling families into transitional housing units. It has been about eight years since housing authorities were given additional funds for housing vouchers, says Christopher Gulotta of the Cumberland County Housing and Redevelopment Authority. Services in many areas have been cut as a result. The money in the trust fund also would be used to cover the state contributions required to obtain federal housing funds. If approved, the bill would move to the Senate.
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"Economy Dragging on Low-Income Home Plans"
Ventura County Star (CA) (09/27/08) Wilson, Kathleen

Affordable-housing builders in Ventura County, Calif., are grappling with paying the costs of new projects due to poor demand for corporate tax credits, a fallout connected to the country's economic slowdown. Developers claim the money is crucial because corporate income-tax credits have offered between a third and 60 percent of the funds they need to construct rental housing for lower-income individuals. Not only are the buyers of the credits paying less, many of them have disappeared from the market, one housing official said. "In the past we're told that 40 percent of affordable housing tax credits nationally were purchased by Fannie Mae and Freddie Mac," explains Peoples' Self-Help Housing executive director Jeanette Duncan. "Now they're out of the market." Ventura County developers state they previously got $1 of funding for each $1 of tax credit, and that they are currently getting between 80 and 90 cents on the dollar. While subsidized housing projects usually mandate funding from eight to 10 sources, the tax credits are a fundamental element, officials note. The Internal Revenue Service provides tax credits to states, which give them to housing developers. California, for instance, got $77 million in 2007. The developers then sell them to companies, which utilize them as tax credits for 10 years.
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"More Are Going 'Mobile'"
Hartford Courant (CT) (09/21/08) Seay, Gregory

Supported by demand for affordable housing options, mobile home parks are getting improvements and upgrades by owners looking to shake the parks' typecast image. In the past six months, Charles Hoddinott, owner and operator of The Willows mobile home park in Hartford, Conn., has removed several run-down homes from his 100-unit park and replaced them with stylish, energy-efficient models. Proponents of manufactured housing note that today's offerings include such amenities as cathedral ceilings, wall-to-wall carpet, and kitchen islands. Lance Blackwell and Dawn Canada moved in May from their home in Middletown to a $39,000, two-bedroom unit in The Willows. The couple says their new home allows them to remain in Connecticut after retirement and gives them the freedom to travel between their timeshare homes without worrying about upkeep of the yard and the house. Retiree Roger Brown moved his family into an $18,000, three-bedroom unit 30 years ago because it was close to his job and because the overhead fees--$335 a month to rent a space in the park and about $950 in annual property taxes--were very affordable. "The image has improved enough to where people tend to know it as an affordable option," says Ken Hoddinott, who with his father Charles has helped to renovate and upgrade a third of the park's homes since buying The Willows in 2000. "There's a real niche for this, and affordability is the key." Moreover, observers say the government rescue of Fannie Mae and Freddie Mac, along with other actions on Capitol Hill, could increase ownership of manufactured homes.
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"County Doubles Housing Fee for Builders"
Marin Independent Journal (CA) (09/16/08) Halstead, Richard

Marin County, Calif. supervisors have voted to raise the fee that developers must pay if they fail to make 20 percent of the new units in their projects affordable to low-income residents. The fee now stands at $232,020, which is 60 percent of the difference between the cost of an affordable home in the county and a market-rate home. The fee had been $99,900 since 1998. Meanwhile, Marin County supervisors are considering charging builders of new single-family homes larger than 2,000 square feet a housing impact fee of $5 for every square foot over 2,000. The fee would also apply to tear-downs and remodels that would create more than 500 square feet of new space and result in a home with more than 2,000 square feet. Builders of homes larger than 3,000 square feet would pay a fee of $10 for every square foot over 2,000. However, the plan exempts builders of homes under 3,000 square feet that include a second unit or agricultural worker unit in the project. Builders of homes larger than 3,000 square feet, meanwhile, would pay 50 percent of the proposed fee if they took similar steps. County supervisors are scheduled to take action on the housing impact fee on Oct. 14. Money raised by both the affordable unit fee and the housing impact fee would go into Marin County's affordable housing trust fund.
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October 2008