Fall 2008

WHEDA's Qualified Allocation Plan

Wisconsin runs a two-year Qualified Allocation Plan (QAP) cycle and is currently working on the draft 2009-2010 QAP. In speaking with Antonio Riley, the executive director of WHEDA, we learned that WHEDA is considering the following overall priorities in drafting changes for the QAP.
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United House - A Model for Supportive Housing

United House is a supportive housing project of 24 units located on the north side of Milwaukee. The project is a joint venture between United Christian Church, Cardinal Capital Management, and Our Space, with each party playing a vital role.
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The Growing Demand for Permanent Supportive Housing in the Midwest

Supportive Housing will continue to be in high demand because supportive housing works! Supportive housing is the combination of permanent affordable housing with integrated high-quality support services. It works for those who have experienced repeated or long periods of homelessness and are high end users of emergency and crisis care services...
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Michigan's 2008 Qualified Allocation Plan (QAP) Priorities

Michigan recently finalized and approved its 2008 QAP. Earlier this year, MSHDA held a funding round that earmarked 25% of the state's 2008 allocation using the 2005/2006 QAP which had remained in effect over the pas few years. Applications were due August 1, 2008 to reserve approximately 75% of Michigan's 2008 Low Income Housing Tax Credits (LIHTCs) using the new QAP.
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Lessons in Permanent Supportive Housing

The Greater Lansing Housing Coalition (GLHC) is a partner in two projects that provide permanent supportive housing to people who were previously homeless. The projects were developed using very different models and agreements. As a result, GLHC has learned valuable lessons that will guide further work with the Greater Lansing Homeless Resolution Network (GLHRN).
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Indiana's Qualified Allocation Plan for 2009/2010

The Indiana Housing and Community Development Authority issued its Qualified Allocation Plan for two year periods. The QAP for 2009/2010 has been through the public comment period and the IHCDA staff plan to seek board approval at the July board of directors meeting on July 24, 2008. The QAP has many guidelines established by section 42 of the Internal Revenue Service, but there is considerable latitude given to the state housing authorities to focus on their state's housing needs as they perceive them.
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Indiana's Permanent Supportive Housing Initiative

In 2007, the Indiana Housing and Community Development Authority (IHCDA) and Great Lakes Capital Fund (GLCF) announced a new partnership to fund the Corporation for Supportive Housing (CSH) in Indiana. IHCDA and CSH are providing technical and financial assistance to local homeless organizations and their development partners to create permanent supportive housing for homeless individuals and families.
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Illinois 2008 Qualified Allocation Plan Priorities

In Illinois, an annual comprehensive housing plan is written and the QAP is partially driven by a desire to serve the populations that are identified as underserved in the state's plan. The 2008 housing plan identified the following five populations as having the direct housing need and the QAP was modified to support these public policy goals.
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Great Lakes Capital Fund Wins 2008 Governor's Service Award

Great Lakes Capital Fund is the proud recipient of the 2008 Governor's Service Award for Corporate Community Leader, presented by Governor Jennifer M. Granholm at the annual awards dinner on June 19th. "This is a great honor for all of us at Great Lakes Capital Fund," said Mark McDaniel, president of the Lansing-based Great Lakes Capital Fund. "Our employees have big hearts. Community service is part of our core mission..."
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Financing Permanent Supported Housing

Designing a successful and sustainable development plan for Permanent Supported Housing is like designing a three-legged stool. The three legs are (1) a creative financial structure, (2) long term rent subsidy, and (3) adequate supportive service funding.
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Events & Happenings

Rink Savoy wins a national award, news on the Michigan Business Tax and more.
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Congress Enacts Major Changes to LIHTC Program

On July 25, 2008, Congress gave final approval to the Housing and Economic Recovery Act of 2008, H.R. 3221, legislation which includes a number of measures to help restore the housing sector in this country. The tax title of the legislation, the Housing Assistance Tax Act, includes nearly two dozen provisions modifyint the Low-Income Housing Tax Credit...
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