Solar energy savings coming to affordable housing residents

Low-income renters will get a break in their electricity bills—and a foot in the door to California’s clean energy economy—thanks to the Solar on Multifamily Affordable Housing (SOMAH) program. Under a proposal recently approved by the California Public Utilities Commission, the program will create incentives for rooftop solar installations that benefit tenants at multifamily affordable rental housing properties.  It will Read More


Last Chance to Save Affordable Housing Bonds and Tax Credits

Now that the U.S. Senate has approved its own tax reform bill replete with hastily scribbled hand-written notes, which you can read here, Congress has entered the final stage in which the Senate and House will attempt to reconcile differences between their two bills through a conference committee. While significant differences between the two bills remain, all expectations are that Read More


New Senate Tax Reform Bill Released; Call for Action in the House

Senate Finance Committee Chair Orrin Hatch (R-Utah) released his modifications to the tax reform bill last night having just added a provision that repeals the Obamacare individual mandate to generate approximately $330 billion in savings over 10 years to pay for the 20% corporate tax rate they are desperately trying to achieve. (Unlike the House, the Senate is bound by Read More


ACTION NEEDED: Tell Congress to Restore Private Activity Bonds & 4% Housing Credits!

I am writing you from Washington, D.C. to alert you that there is a time-sensitive effort today being led by Rep. Randy Hultgren (R-IL-14th), who is co-chair of Congressional Municipal Finance Caucus, to restore Private Activity Bonds in the House tax reform bill, H.R.1.  My October 27th blog described the damage that will be done to California if the Republican House tax reform Read More


Message to Housing Advocates: Don’t Panic. Push Back with Facts, Stories and Emotion

My October 27th blog described the damage that will be done to California if the Republican House tax reform proposal eliminates tax exempt private activity bonds (PABs) including multifamily housing bonds, thereby also eliminating California’s ability to use 4% Low Income Housing Tax Credits. Unfortunately, the draft bill released by House Ways and Means Chairman Kevin Brady (R-Texas) last week Read More


Solar Financing 101: CHPC GREEN Talk Highlights Solar Financing Options and Lessons

Last month, 20 nonprofit developers joined a California Housing Partnership Corporation (CHPC) Green Rental Home Energy Efficiency Network (GREEN) “Talk” to learn the basics of solar financing, and hear from other developers who are actually using these financing tools.  Panelists for the talk included solar experts from GRID Alternatives, and three developers—Mercy Housing, Eden Housing, and National Housing Trust—who provided Read More


AB 693 Proposed Decision Released

Good news – the California Public Utilities Commission (CPUC) finally released its Proposed Decision to implement Assembly Bill 693 creating the $1 billion Solar on Multifamily Affordable Homes (SOMAH) program for affordable rental properties located in investor-owned utility territories!  As a reminder, the CPUC is in the process of establishing guidelines for the SOMAH program, which will provide up to $100 million in Read More


Matt/CHPC LIHTC Federal Advocacy Action Alert

Saving the Low Income Housing Tax Credit: Now is the Time More than 325,000 lower income California households are currently living in apartments produced and made affordable through federal Low Income Housing TaxCredits (Housing Credits) authorized by Congress 30 years ago. More than 7 million Californians will directly benefit from these affordable apartments over the next 50 years thanks to Read More


Capturing Water Savings Through On-Bill Financing: Lessons from BRIDGE Housing

CHPC’s water affordability initiative works to increase access to water conservation resources for the nonprofit multifamily affordable rental housing owners and the lower-income tenants they serve in California. Below is the fifth in a series of reports on leaders, best practices, and emerging trends in water conservation for affordable housing.   Finding ways to pay for energy efficiency and water Read More


State Adds $100M to AHSC NOFA

It isn’t often possible to change the thinking of state officials tasked with the job of spending Cap-and-Trade funds governed by complex and overlapping regulations and statutes. Not to mention when it must be done under the ever-watchful eye of the state Department of Finance. But I give huge credit to Strategic Growth Council (SGC) Executive Director Randall Winston for being Read More