2016 mar mheg newsletter

Page 1

MHEG in a Minute Keeping you up to date on MHEG in just a minute’s time. Volume 9, Issue 1

March 2016

2015 A Record Year for MHEG

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 October 2015 30%PV

AFR

3.21%

2.58%

We are excited to announce that MHEG raised and deployed $160 million in equity capital in 2015. This money was invested into thirty-eight properties and helped finance over 1,600 affordable rental homes. Both the equity deployed and units financed are records for our organization. If you see a MHEG team member, please congratulate them for their dedication to changing lives! Last year’s portfolio of investments was very diverse, the following stats describe deals closed in 2015: • 8 states and 35 cities are represented • Units per project ranged from 8 to 237, averaging at 44 units • 20 developments are multifamily, 12 are age restricted, 3 are single family and 3 are special needs • 28 developments include new construction, 8 are rehab and 3 are historic rehab • 25 developments are located in rural areas, 10 in urban areas and 3 in suburban areas We are pleased to help meet the varied and diverse affordable housing needs throughout our footprint.

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

November 2015 30%PV

AFR

3.20%

2.57%

December 2015

March

April

IFA Board Meeting: Mar. 9th Des Moines, IA - IFA Office

IFA Board Meeting: Apr. 6th Des Moines, IA - IFA Office

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

KHRC Board Meeting: Apr. 7th Topeka, KS - KDFA Board Room

Annual MHDC Commission Meeting: Mar. 18th Columbia, MO - TBD

OHFA’s 2016 Housing Summit: Apr. 14th Oklahoma City, OK - Moore Norman Technology Center

NIFA’s Housing Innovation Marketplace: Mar. 22nd-23rd LaVista, NE - LaVista Conference Center

NIFA Board Meeting: Apr. 15th Lincoln, NE - NIFA Board Room

Annual Nebraska Appreciation Dinner: Mar. 22nd LaVista, NE - Nebraska Brewing Company

ADFA Board Meeting: Apr. 21st Little Rock, AR - ADFA Office

CHFA Board Meeting: Mar. 24th Denver, CO - CHFA Board Room SDHDA Board of Commissioners Meeting: Mar. 29th Pierre, SD - SDHDA NIFA CRANE Meeting: Mar. 30th Lincoln, NE - NIFA Board Room TDHCA Board Meeting: Mar. 31st Austin, TX - Capitol Extension Auditorium

AFR

3.31%

2.61%

January 2016

Upcoming Events

OHFA Board of Trustees Meeting: Mar. 23rd Oklahoma City, OK - OHFA’s Conference Room

30%PV

CHFA Board Meeting: Apr. 28th Denver, CO - CHFA Board Room TDHCA Board Meeting: Apr. 28th Austin, TX - Capitol Extension Auditorium

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

30%PV

AFR

3.22%

2.65%

February 2016 OHFA Board of Trustees Meeting: May 18th Oklahoma City, OK - OHFA’s Conference Room ADFA Board Meeting: May 19th Little Rock, AR - ADFA Office

30%PV

AFR

3.22%

2.62%

Please note we will no longer show the 70% PVC rate as it was permanently fixed at 9% in December 2015. For more information view the Protecting Americans from Tax Hikes Act of 2015.

CHFA Board Meeting: May 26th Denver, CO - CHFA Board Room

Portfolio Update

TDHCA Board Meeting: May 26th Austin, TX - Capitol Extension Auditorium

Developments Units

MHDC Commission Meeting: May 27th Columbia, MO - TBD

June MHEG Annual Meeting & Golf Outing: Jun. 6th Ashland, NE - Quarry Oaks Golf Course

440 13,060

Counties Represented

165

Cities Represented

203

Vacancy Percentage

6.54%*

Debt Coverage Ratio

1.54*

Information current as of 3/1/16 *Percentage compiled from 12/31/15 figures using stabilized developments only, vacancy percentage is using economic vacancy.

AHAA Annual Conference: Jun. 7th-8th Little Rock, AR - Wyndham Riverfront Hotel

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.

IFA Board Meeting: Jun. 8th Des Moines, IA - IFA Office

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

For any other inquiries about the content of this newsletter, please contact Keely McAleer. 6

Tabor Grand Receives Governor’s Award On February 3rd, Governor John Hickenlooper awarded Tabor Grand Hotel the 14th Annual Governor’s Award for Historic Preservation. The award was presented to the City of Leadville, Mayor Jamie Stuever, and Overland Property Group for their work on the rehabilitation. “This public-private partnership really sets an example on how communities can come together around historic preservation,” said Governor Hickenlooper in a statement.

First Minnesota Deal Closed MHEG is very excited to partner with Southwest Minnesota Housing Partnership (SWMHP) for our first development in Minnesota. Maplewood Apartments involves the rehabilitation of a three-story rural development project that was originally constructed in 1985 in St. Peter, Minnesota. The property will undergo a massive transformation; including new appliances and fixtures, new cabinets in the kitchen and bathroom, new flooring (carpet and vinyl), and new windows and doors. Once complete Maplewood Apartments will provide 30 affordable housing units, six one-bedroom units, 18 twobedroom units and six three-bedroom units.

​abor Grand provides 37 units of affordable T rental housing to families in Leadville. CHFA awarded $652,836 in Low Income Housing Tax Credits in 2013, and an $880,000 CHFA Housing Opportunity Fund loan to facilitate the rehabilitation of the property.

SWMHP is a non-profit community development corporation that was established in 1992. To date they have developed, financed or preserved over 7,300 housing units.

We’re Hiring!

Save the date Monday, June 6th, 2016, for MHEG’s Annual Meeting and Golf Outing. We will again host our meeting and tournament at the Quarry Oaks Golf Course in Ashland, Nebraska.

MHEG is looking for an Asset Manager to join our team in the Omaha office. For more information on this position, visit our website’s Employment page: www.mheginc.com/aboutmheg/employment To apply, email a copy of your resume and a completed MHEG application (download from our website) to kmcaleer@mheginc.com.

Save the Date: June 6th

This event is an enjoyable occasion for our board of directors, committee members, staff, investors, developers and many other associates to come together for an afternoon of friendly competition. We look forward to seeing you there! 1


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.