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Retooling Affordable Housing Strategies Part 2 of 19 |
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Saturday, 25 April 2009 |
Affordable housing is housing that costs the owner or tenant no more than 30 percent of gross income, according to Trend Dynamics the Department of Housing and Urban Development (HUD). Rent or mortgage payments that exceed this percentage are considered a cost burden to the household because other basic expenses like health care, education and transportation are compromised.
In Texas, the number of families facing a cost burden is growing three times faster than the availability of decent, affordable housing, according to the Texas Low Income Housing Information Service. Rising housing costs have created a housing shortage Forex Trading Machine not only for lower-income groups, but also for middle-income professions such as teachers, nurses, firefighters, police officers and others who cant afford to live in the communities they serve. Maintaining employment does not guarantee that a family can find decent affordable housing. |
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Last Updated ( Saturday, 25 April 2009 )
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Retooling Affordable Housing Strategies Part 6 of 19 |
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Wednesday, 15 April 2009 |
Heather Way and Karen Paup of Housing Works Action Secrets of Successful Traders, an advocacy coalition based in Austin, credit the following tactics for the bond campaigns success:
Having a consistent and compassionate message that resonated with voters. Campaign literature described the estimated unmet and growing need at $1.3 billion.
Identifying voter perceptions with preelection surveys to gauge the interest of affordable housing programs.
Creating alliances with other advocacy groups. In Austin, environmental advocates proved most influential.
Working closely with the citys bond election advisory committee early in the process, which enabled the advocates to have their initiative placed on the ballot.
Advocates and community leaders point to existing local models like Lyons Gardens, an award-winning, 53-unit senior complex in East Austin that is experiencing The Amazing Stealth Forex Trading System a nearly twoyear waiting list. Hilgers says that with this additional source of bond financing, more communities like Lyons Gardens can help alleviate an unmet need. |
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Last Updated ( Wednesday, 15 April 2009 )
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Retooling Affordable Housing Strategies Part 8 of 19 |
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Saturday, 11 April 2009 |
Private Activity Bonds in Lubbock
Lubbock Housing Finance Corp. (LHFC) administers PAB housing programs in Lubbock. The corporation has not issued single-family bonds in recent years Penny Stock Secrets because there was a significant gap between the interest paid on the outstanding bonds and the interest that would have been earned by investing the bonds proceeds. Negative arbitrage has been the largest barrier over the years, according to LHFC Executive Director Shari Flynn.
With improving economic circumstances and higher interest rates, bond issuance is now more attractive and competitive. In 2007, the LHFC plans to partner with South Plains Housing Finance Corp. to issue a combined $37 million in single-family mortgage revenue bonds that will service Lubbock and 14 counties outside the city. Single-family bonds will be used to finance below-market-interest-rate mortgage loans through a network of local lenders. Families and individuals who are purchasing their first home or who have not owned a home in the past three years will be eligible.
In 2006, the LHFC also issued a $10 million multifamily bond for a complex in north Lubbock called Hillcrest Manor Senior Community. The 220-unit housing facility, still under construction, is subsidized by an additional $624,800 in 4 percent tax |
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Last Updated ( Saturday, 11 April 2009 )
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