Page 1

MHEG in a Minute Keeping you up to date on MHEG in just a minute’s time. Volume 8, Issue 3 Inside this Issue: Recent Highlights

1

CEO Update

2

Region Updates

2, 3

Property Spotlight

4

Recent Events

4

Closed Acquisitions

5

Staff Announcements

5

Upcoming Events

6

Monthly LIHTC Rates

515 N. 162nd Ave., Ste. 202, Omaha, NE 68118

June 2015 70% PV

30%PV

AFR

7.47%

3.20%

2.50%

July 2015 70% PV 7.52%

30%PV

AFR

3.22%

2.74%

August 2015

KHRC Board Meeting: Oct. 1st Topeka, KS - KDFA Board Room KHRC Public Hearing for QAP: Oct. 14th Topeka, KS - KDFA Board Room **QAP for 2016 applications has significant changes in Developer Fees** IFA Board Meeting: Oct. 7th Des Moines, IA - IFA Office ADFA Board Meeting: Oct. 15th Little Rock, AR - ADFA Office TDHCA Board Meeting: Oct. 15th Austin, TX - Capitol Extension Auditorium NIFA Board Meeting: Oct. 16th Lincoln, NE - NIFA Board Room CHFA Board Meeting: Oct. 22nd Denver, CO - CHFA Board Room SDHDA Annual Housing Conference: Oct. 27th-28th Pierre, SD - Best Western Ramkota RiverCentre

30%PV

AFR

7.53%

3.23%

2.82%

September 2015

Upcoming Events October

70% PV

70% PV

November

IFA Board Meeting: Nov. 4th Des Moines, IA - IFA Office

7.51%

December

30%PV

AFR

3.22%

2.64%

October 2015

IFA Board Meeting: Dec. 2nd Des Moines, IA - IFA Office

70% PV

30%PV

AFR

7.49%

3.21%

2.58%

KHRC Board Meeting: Nov. 5th Topeka, KS - KDFA Board Room

KHRC Board Meeting: Dec. 3rd Topeka, KS - KDFA Board Room

TDHCA Board Meeting: Nov. 11th Austin, TX - Capitol Extension Auditorium

MHDC Commission Meeting: Dec. 4th Columbia, MO - TBD

OHFA Board of Trustees Meeting: Nov. 18th Oklahoma City, OK - OHFA’s Conference Room

CHFA Board Meeting: Dec. 10th Denver, CO - CHFA Board Room

Units

Annual OK Luncheon: Nov. 18th OK City, OK - Oklahoma History Center

Counties Represented

157

NIFA Board Meeting: Dec. 11th Lincoln, NE - NIFA Board Room

Cities Represented

193

NIFA CRANE Meeting: Nov. 18th Lincoln, NE - NIFA Board Room

ADFA Board Meeting: Dec. 17th Little Rock, AR - ADFA Office

Vacancy Percentage

6.28%*

Debt Coverage Ratio

1.73*

ADFA Board Meeting: Nov. 19th Little Rock, AR - ADFA Office

TDHCA Board Meeting: Dec. 17th Austin, TX - Capitol Extension Auditorium

Portfolio Update Developments

417 12,429

Information current as of 10/01/15 *Percentage compiled from 6/30/15 figures using stabilized developments only, vacancy percentage is using economic vacancy.

CHFA Board Meeting: Nov. 19th Denver, CO - CHFA Board Room If you would like to receive our newsletter by email, go to our homepage to sign-up. For past issues of MHEG in a Minute check our website under News & Events. For any other inquiries about the content of this newsletter, please contact Keely McAleer.

6

October 2015

2015 Ad Astra Award Winners This past August the Kansas Housing Resources Corporation (KHRC) hosted their annual Bringing Kansas Home Housing Conference in Manhattan, Kansas and presented their Ad Astra Awards. The awards honor individuals and organizations who demonstrate excellence in developing affordable housing, shaping housing policy and creating innovative housing solutions to meet the daily needs of low and moderateincome Kansans. MHEG was excited to learn that two of our partners received awards this year recognizing them for their outstanding service to the Above: Pat affordable housing industry in Kansas. Innovation in Housing and Community Development: Baxter Springs Senior Residences (BSSR, LP of MHEG Fund 40) developed by Prairie Fire Development Group and located in Baxter Springs, Kansas.

Michaelis (MHEG), Marilyn De La Pena (Prairie Fire Development) and Kelly Hrabe (Prairie Fire Development). Below: Partners of House to Home, Mesner Development Co, MHEG, KHRC, CHWC.

Special Achievement in Affordable Housing Development Urban: House to Home Riverview/Escalade, LLC (MHEG Fund 40) developed by Mesner Development Co and Community Housing of Wyandotte County (CHWC), located in Kansas City, Kansas. Congratulations to these developers, MHEG is proud to partner with these leading organizations.

Asset Manager Needed

Spectrum’s Charitable Giving Initiative

MHEG is still looking for an Asset Manager to join our Oklahoma City office team.

In 2012, the Spectrum Companies introduced their “Charitable Giving Initiative” program, which makes donations to certain charities based on recommendations of their partners.

For more information on this position, visit our website’s Employment page: www. mheginc.com/about-mheg/employment To apply, email a copy of your resume and a completed MHEG application (download from our website) to kmcaleer@mheginc.com.

In 2015, at the suggestion of MHEG, Spectrum selected New Beginnings, Inc. of Hutchinson, Kansas as one of their charities. They received over $1,600. New Beginnings was created in 1986 with the mission to shelter and rebuild human lives while fostering the development of affordable housing. The Spectrum Companies have been providing compliance services for over 25 years for affordable housing. MHEG is proud to partner with both of these great organizations.

AHF Recognize Wiechmann As 2015 Young Leader Each year since 2008, the Affordable Housing Finance magazine recognizes a handful of individuals 40 and under who are making an impact in the affordable housing industry with the Young Leader Award. The award was created as a way to celebrate and support a new generation of leaders who are helping to build organizations and finding innovative ways to deliver affordable housing. MHEG is proud to announce that this year’s group includes one of our own team members, John Wiechmann. Since joining MHEG in 2012 as CEO, John has diversified our investor base and expanded our operations from four to ten states. Additional honorees of this year’s award are: Sasha-Gaye Angus (Michaels Development Co), Andrew Bailey (Millennia Companies), Karla Burck (Herman & Kittle Properties), Michael Duffy (McCormack Baron Salazar), and Matt Rule (National Church Residences). The Young Leaders will be honored at the AHF Live Conference in November in Chicago. Be looking for the October issue of the AHF magazine, which will feature a story showcasing each of the leaders.

1

2015 oct mheg newsletter