2016 mar mheg newsletter by MHEGINC

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

CEO Update

Region Updates

2, 3

Property Spotlight

Recent Events

Closed Acquisitions

Staff Announcements

Upcoming Events

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

Volume 9, Issue 1

Keeping you up to date on MHEG in just a minute’s time.

CEO Update

Northeast Region Update

John Wiechmann Hard to believe the first quarter of 2016 is almost over! I’d like to believe that winter is behind us – but it’s Nebraska and I suspect we probably have at least one more snowstorm left! As discussed on page 1, 2015 was a very successful year for MHEG. We raised and deployed $160 million of equity capital, helping finance more than 1,600 quality affordable rental homes throughout the Midwest. This success is not ours alone. Each of you made it possible. Thank you for helping us execute on our mission of changing lives for a better tomorrow! 2016 is off to a great start! We closed on our first Minnesota deal with Southwest Minnesota Housing Partnership (again, see page 1 for more on this new partnership). It took us a couple years to find the right deal to begin making an impact in this new state. We look forward to closing our second Minnesota deal later this year. There’s lots of activity, both development and legislative, taking place across our entire footprint – please take a minute to read the various updates from our Business Development Officers. There are two legislative items in Nebraska that I want to spend some time on. The first item is our new property tax legislation. Last year, the Housing Policy Network and the Nebraska Housing Developers Association, together with many other stakeholders, worked hard to get legislation passed that requires County Assessors to utilize the net operating income approach when valuing affordable housing developments financed with federal low-income housing tax credits (“Housing Credits”). That legislation, LB356, became law late last summer. In October, property owners were required to submit income and expense data to the County Assessors. By Dec. 1, the Rent Restricted Housing Projects Valuation Committee (the “Committee”) was required to determine and publish the appropriate capitalization rate(s) for the Assessors to apply when calculating Housing Credit property values. Counties had until Jan. 31 of this year to file appeals to the valuation methodology and/or the calculation of the cap rate(s). So far, it seems the process has worked well. Information was submitted, the capitalization rate was published and, as near as I can tell, no appeals were filed. To help ensure that the statute and its underlying processes continue to function as intended, the Committee is presenting an educational session during the NIFA Conference next week – it takes place on Wed., March 23 @ 11:00 a.m. (at the Courtyard Marriott in LaVista, NE). This legislation can create the stability, uniformity and predictability that Housing Credit stakeholders sought for so long. I hope to see you at the session.

The second item is LB951, a bill introduced in the Unicameral this session by Senator Burke Harr of Omaha. LB951 proposes to create a state low-income housing tax credit. The concept is fairly simple – the state program will mirror the federal program. The Revenue Committee held a hearing on LB951 on Feb. 10th. There were many proponents who testified in favor of the bill; there was no opposition. The bill was then amended into another bill, LB884, via Amendment 2522. The Revenue Committee approved LB884, as amended with the state tax credit, by a vote of 7-1. LB884 also has priority status, meaning that it has a good chance of being considered by the entire Unicameral, even during this short session. At this juncture, the most important thing we can all do is to reach out to our state senators and encourage them to support LB884, as amended by Amendment 2522 (the amendment has our bill in it). Please let me or anyone at MHEG know if we can help you with this outreach. As with LB356 last year, we’ve only come this far because of each of you and your efforts, especially the members of the Housing Policy Network and the Nebraska Housing Developers Association. On the federal front, we’re very pleased that Congress permanently fixed the applicable percentage at 9% at the end of 2015. The on-again/off-again nature of the fixed 9% rate was causing some difficultly in underwriting new developments. It is great to have one more variable removed from the financing equation. It is even better to see both parties of Congress coalesce around the Housing Credit program. Just as important was the fact the Congress funded the HOME Program at $950 million, a $50 million increase over the prior fiscal year. As we look forward, it seems tax reform is fairly remote, at least until after the Presidential election. Even then, meaningful reform seems doubtful. That being said, it is still very important to stay in contact with our Congressional delegations in every state. Get elected officials and staff to your ribbon cuttings and open houses. It’s the best way to educate them about the value of the Housing Credit and demonstrate the need for even more resources. As always, please reach out to me or anyone at MHEG if we can help with the planning of such events. Thank you again to all of our volunteer leaders, investors, developers, property managers, financing partners and government officials for making 2015 such a great year! We look forward to partnering with you in 2016 and changing even more lives for a better tomorrow. See you all on June 6th at our Annual Meeting.

Central Region Update Pat Michaelis

MHEG is again sponsoring several LIHTC project applications for the 2016 round. Forty three applications were submitted to KHRC. Here are some interesting statistics on the applications: • 35 developers submitted applications in 30 cities and 25 counties • 27 applications in MSA’s and in 16 rural communities • Total LIHTC application requests: $21,538,627 to build 16,047 units • Approx. Amount Available for Reservation: $5,515,700 • 27 applications were for family projects; 15 for elderly; and one for special needs • 33 applications were for new construction; 5 for acquisition rehab; and 5 for historic Clearly, KHRC has some great housing options across Kansas and also some hard choices that impact communities, developers and other industry players. Our best wishes go to all interested parties. We look forward to working with you once awards are announced. Kansas Housing Association is again sponsoring a Washington DC Legislative visit April 10th-12th. Appointments have been secured with Senators Roberts and Moran; and Representatives Jenkins, Pompeo, Yoder, and Huelskamp or their key staffers. For details go to the KHA web site. We have a strong group attending but you are invited and welcome to sign-up. Keeping our congressional delegation informed and supportive is a major responsibility of the Kansas Housing Association and all of us in the industry. On a similar note, Representative Pompeo is attending and speaking at two housing dedications in Wichita on March 31st: Rushpointe Apartments, 16 special needs by Mark Cox and KETCH; and French Quarter II, 44 family units by Mennonite Housing. I encourage you to invite your senator and/ or representative to your events as well. They need to know the good we are doing for the residents. The Kansas Jayhawks, ranked number One in most basketball polls, are heading into the NCAA tournament. We wish them all the best. GO Jayhawks! 2

March 2016

Scott Fitzpatrick 2016 has been off to an exciting start here in Des Moines, the town has been bustling with activity related to the first in the nation Iowa Caucus. No matter where you went, you would come across one of the many campaigns or members of the press covering them. The progress in Des Moines is taking ahold as the press discussed how they used to dread coming here to cover the Caucus, but now they request it! While affordable housing is not among the discussions of the presidential debate, it is a good reminder to make sure we stay in touch with our local, state and federal representatives and senators to make sure they know the importance of affordable housing in our communities!

Des Moines will host first and second round games of the NCAA tournament for the first time this year. In addition, the 2016 tax credits awards will be announced on March 9th. March will definitely be an exciting month around here! Lastly we’d like to congratulate Community Housing Initiatives on receiving the Community’s Best Kept Secret award in the small business category from the Greater Des Moines Partnership at the 2015 Celebrate Business Awards. MHEG is always proud to see one of our great partners recognized for their success.

Speaking of bustling activity, we are approaching March Madness and

Northwest Region Update Jen Oscarson

The Northwest region ended 2015 strong including the partnership with Pioneer Group, Horizon Bank, Hall County Housing Authority, NIFA, Nebraska Department of Economic Development, and the Veterans Administration to develop 24 new units of housing in Grand Island, Nebraska on the VA campus. Once complete these units will provide a preference for veterans that are homeless or at risk of becoming homeless. This is an exciting opportunity to leverage public and private dollars to make a difference in the lives of those who have served our country. 2016 looks promising, Nebraska just announced the first round of credits that will help create over 220 new housing units in the state. Minnesota Housing Finance Agency (The Agency) has not had newly constructed senior housing in the state for some time. Currently, Minnesota has roughly 40,000 senior renter households with incomes at or below 30 percent of the state median income. This represents about 40 percent of all senior renters and with those numbers expected to double over the next 25 years The Agency has created a pilot program to identify and test a financing and delivery model that could potentially be brought to a larger scale and help meet this need as it increases in the future. It is expected at least one of the tax credit awards later this year will include the new construction of senior housing. Legislatively the Colorado State tax credit is scheduled to sunset in 2016 prompting a broad coalition of community and business partners to ask the Colorado General Assembly to extend the program through 2019. Last year alone the State LIHTC supported the development of over 1,900 units of affordable rental housing leveraging $168.2 million in new private sector investment. The construction is estimated to generate nearly $593.8 million in economic impact and support 3,361 jobs. The Governor has included the State Tax Credit in his budget but it is up to the housing community to ensure the General Assembly is going to keep the availability of this much needed financing tool. Governor Dennis Daugaard of South Dakota has a passion and a policy to develop more energy efficient units though Passive House Standards. These standards are rigorous requiring heavy insulation, an airtight envelope, highly efficient heating and cooling systems, and energy recovery air exchangers. These principles have been in use for their affordable home ownership program called Governors Houses. South Dakota Housing Development Authority is looking to expand this energy efficient standard into their affordable housing multifamily affordable development, at the Governor’s request. We will be watching the QAP for these potential changes. We sincerely thank our partners and investors for making these new homes a reality in the Northwest Region.

South Region Update Andrea Frymire In 2015, the Oklahoma Department of Commerce, OHFA and HUD commissioned the Oklahoma Statewide Housing Needs Assessment. The results of the study will be presented on April 14th at the OHFA Housing Summit. Major findings of the study show: • 66,821 total housing units are needed by 2020, 43,942 for homeownership and 22,879 for rent • 5,486 units are needed for seniors over age 62 • 7,410 units are needed for persons with one or more disabilities Most of the individual county reports are complete. You may download these reports at: http://oklahomahousingneeds.org/. Meanwhile, the Oklahoma Legislature has six different pieces of legislation to reduce, eliminate or place a moratorium on the Oklahoma Affordable Housing Act that was just passed in 2014. The Oklahoma Coalition for Affordable Housing will be hosting a series of Regional Housing Forums across the state with the participation of the Federal Reserve Bank of KC-Oklahoma City Branch and the FDIC. Forums will be held

from May through July and include the towns of Alva, Ardmore, Lawton, Oklahoma City and Tulsa. These Forums will be a great resource for community leaders, developers, nonprofits, bankers, etc. to hear the results of the Needs Assessment and discuss next steps. In all three states we have been busy writing letters for tax credit applications. Competition among developers for credits remains fierce. Awards in Arkansas will be announced in August, Oklahoma awards will be announced in May and November, and Texas awards will be announced in July. The syndication market remains highly competitive. We remain committed to all of our partners and appreciate the trust they have placed in us. We appreciate your business and look forward to additional successful partnerships in the future.

Volume 9, Issue 1

Keeping you up to date on MHEG in just a minute’s time.

CEO Update

Northeast Region Update

Central Region Update Pat Michaelis

March 2016

Speaking of bustling activity, we are approaching March Madness and

Northwest Region Update Jen Oscarson

Volume 9, Issue 1

Keeping you up to date on MHEG in just a minute’s time.

Property Spotlight: Ridgeway Villas at the Legends, L.P.

Closed Acquisitions

2015 was a year of growth for Missouri, we closed five deals in our third year servicing the state bringing our total developments to date to eight. The property we’re highlighting for this spotlight is Ridgeway Villas at the Legends, a property that we’ve received more website inquiries on than any other property in our portfolio. Located in Raymore, Missouri, this newly constructed development is just south of Kansas City and will offer 56 affordable housing units for those in the area. The townhomes and duplexes will provide 14 two-bedroom units and 42 three-bedroom units ranging from 1,416 - 1,625 square feet. Each unit will have its own garage and safe room. Rents will range from $250-$700 depending on the unit size. The community will also have a clubhouse, computer lab, playground and pavilion for tenants to enjoy. North Star Housing, LLC served as the developer for Ridgeway Villas. This was MHEG’s first time partnering with them. Mid America Management, Inc will serve as the property manager. Ridgeway Villas looks to be complete in the summer of 2016.

Ridgeway Villas at the Legends, L.P. General Partners

LRG-Ridgeway, LLC and Windfield-Ridgeway, LLC

Developer

North Star Housing, LLC

Property Manager

Mid America Management, Inc

Groundbreakings, Ribbon Cuttings, Dedications and Events....

March 2016

LIHTC DEVELOPMENTS

FUND

CITY / STATE

UNITS DATE

Saint Street Apartments, L.P.

MHEG 45 Branson, MO

October

North Star Housing, LLC

Goldfinch Grove, LLC

MHEG 44 Hull, IA

October

Excel Development Group

Prospect Village Limited Partnership

MHEG 44 Omaha, NE

November

Holy Name Housing Corp

Northfield at Stapleton Apartments LLLP

MHEG 44 Denver, CO

November

Northeast Denver Housing Center, Inc.

Southern Pointe, LLLP

MHEG 44 Spencer, IA

November

Community Housing Initiatives, Inc.

Bluffview Place, LLC

MHEG 44 Wichita, KS

November

Mennonite Housing Rehabilitation Services

Windhaven Estates, LLC

MHEG 44 Holdrege, NE

November

Mesner Development Co

Willow Ridge Apartments, L.P.

MHEG 44 Manhattan, KS

December

Excel Development Group

Victory Place, LLC

MHEG 45 Grand Island, NE

December

Pioneer Group Inc

Chestnut Place, LLC

MHEG 44 McPherson, KS

December

Vintage Construction

Wilderness Falls II, LLC

MHEG 44 Falls City, NE

December

Excel Development Group

BRAD Black River Housing, an Arkansas LP

MHEG 44 Pocahontas, AR

December

White River Regional Housing Dev Corp

Vintage Apartments at Hillsboro LLC

MHEG 44 Hillsboro, KS

December

Vintage Construction

Judy Meadows, LP

MHEG 42 Kearney, NE

December

Dana Point Development Corp

3101 S. 24th Street, LLC

MHEG 42 Omaha, NE

December

Arch Icon Development Corp

Eastwood Apartments, LLC

MHEG 44 Hoisington, KS

December

Mesner Development Co

Heritage Hawthorne Partners II, LLC

MHEG 44 Salina, KS

December

Overland Property Group

Western Housing Partners, LP

MHEG 44 Fort Scott, KS

December

Flint Hills Holding Group

Pathways Warrensburg Housing Associates, LP MHEG 44 Warrensburg, MO

December

Pathways Community Behavior Health, Inc.

Gardner Properties, L.P.

MHEG 44 Gardner, KS

December

MACO Development

Prairie Trails Partners III, LLC

MHEG 42 Garden City, KS

December

Overland Property Group

Maplewood of St. Peter Limited Partnership

MHEG 44 St. Peter, MN

January

Southwest Minnesota Housing Partnership

Park Village Residences, LLC

MHEG 44 Parkville, MO

February

Investment Resources Corporation

Total Units Closed from October - February Total Units Closed in 2015

DEVELOPER

628 1,685

Staff Announcements Sharita Nelson, Compliance Specialist Sharita was hired as a Compliance Specialist for our Omaha office. She will be responsible for assisting the compliance department and working with property managers/owners regarding compliance/asset management issues. Her main duties include reviewing and retaining all initial tenant files for properties, assisting with lease-up and providing technical support for property managers, as well as monitoring and maintaining folders on MHEG’s portfolio of projects tracking rent/income percentages. Sharita joins MHEG with past affordable housing experience working for a local housing authority. She most recently worked for Trimble Navigation Limited as a Sales Support Consultant. She started with MHEG at the beginning of November 2015.

Caleb Van Horn, Asset Management Intern Caleb was recently hired as our Asset Management intern for the Oklahoma City office. He will be assisting the Asset Management department. Duties will include data entry of financial statements, inspection reports, rent review, assisting with quarterly reporting and other projects as assigned. Caleb is a Senior at the University of Oklahoma and is majoring in Finance. He started with MHEG at the end of December.

Calvin Custard, Acquisitions and Asset Management Intern 1) Mennonite Housing Rehabilitation Services held a groundbreaking ceremony on November 4, 2015, for Bluffview Place (MHEG Fund 44) in Wichita, Kansas. Participating in the ceremony were (L to R) Riley Williams (Mennonite Housing Board), Byron Adrian (Mennonite Housing), Marcia Wood (StepStone Chairperson), Theresa Denton (CSJ Ministries), Fred Bentley (KHRC), Kit Lambertz (StepStone), Pat Michaelis (MHEG), and Rich Kerschen (The Law Company). This new development will provide 28 new multifamily units. 2) AHF recognized the following individuals as 2015 Young Leaders on November 19, 2015 at the annual AHF Live Conference in Chicago: (L to R) Michael Duffy (McCormack Baron Salazar), Andrew Bailey (Millennia Companies), Sasha-Gaye Angus (Michaels Development Co), Karla Burck (Herman & Kittle Properties), Matt Rule (National Church Residences) and MHEG’s own John Wiechmann.

Calvin was recently hired as our Acquisitions and Asset Management intern for the Omaha office. He will be assisting both the Acquisitions department and the Asset Management department. Duties will include data entry of financial statements, running reports, IRR models, mappings of UW models, compliance screen checks and other projects as assigned. Calvin is a Junior at the University of Nebraska at Omaha and is majoring in Finance. He previously worked as an intern for National Indemnity Company. Calvin started with MHEG in January.

3-5) MHEG hosted its annual Oklahoma Luncheon on November 18, 2015, at the Oklahoma History Center in Oklahoma City. Over 75 guests were attendance for this year’s luncheon.

Volume 9, Issue 1

Keeping you up to date on MHEG in just a minute’s time.

Property Spotlight: Ridgeway Villas at the Legends, L.P.

Closed Acquisitions

Ridgeway Villas at the Legends, L.P. General Partners

LRG-Ridgeway, LLC and Windfield-Ridgeway, LLC

Developer

North Star Housing, LLC

Property Manager

Mid America Management, Inc

Groundbreakings, Ribbon Cuttings, Dedications and Events....

March 2016

LIHTC DEVELOPMENTS

FUND

CITY / STATE

UNITS DATE

Saint Street Apartments, L.P.

MHEG 45 Branson, MO

October

North Star Housing, LLC

Goldfinch Grove, LLC

MHEG 44 Hull, IA

October

Excel Development Group

Prospect Village Limited Partnership

MHEG 44 Omaha, NE

November

Holy Name Housing Corp

Northfield at Stapleton Apartments LLLP

MHEG 44 Denver, CO

November

Northeast Denver Housing Center, Inc.

Southern Pointe, LLLP

MHEG 44 Spencer, IA

November

Community Housing Initiatives, Inc.

Bluffview Place, LLC

MHEG 44 Wichita, KS

November

Mennonite Housing Rehabilitation Services

Windhaven Estates, LLC

MHEG 44 Holdrege, NE

November

Mesner Development Co

Willow Ridge Apartments, L.P.

MHEG 44 Manhattan, KS

December

Excel Development Group

Victory Place, LLC

MHEG 45 Grand Island, NE

December

Pioneer Group Inc

Chestnut Place, LLC

MHEG 44 McPherson, KS

December

Vintage Construction

Wilderness Falls II, LLC

MHEG 44 Falls City, NE

December

Excel Development Group

BRAD Black River Housing, an Arkansas LP

MHEG 44 Pocahontas, AR

December

White River Regional Housing Dev Corp

Vintage Apartments at Hillsboro LLC

MHEG 44 Hillsboro, KS

December

Vintage Construction

Judy Meadows, LP

MHEG 42 Kearney, NE

December

Dana Point Development Corp

3101 S. 24th Street, LLC

MHEG 42 Omaha, NE

December

Arch Icon Development Corp

Eastwood Apartments, LLC

MHEG 44 Hoisington, KS

December

Mesner Development Co

Heritage Hawthorne Partners II, LLC

MHEG 44 Salina, KS

December

Overland Property Group

Western Housing Partners, LP

MHEG 44 Fort Scott, KS

December

Flint Hills Holding Group

Pathways Warrensburg Housing Associates, LP MHEG 44 Warrensburg, MO

December

Pathways Community Behavior Health, Inc.

Gardner Properties, L.P.

MHEG 44 Gardner, KS

December

MACO Development

Prairie Trails Partners III, LLC

MHEG 42 Garden City, KS

December

Overland Property Group

Maplewood of St. Peter Limited Partnership

MHEG 44 St. Peter, MN

January

Southwest Minnesota Housing Partnership

Park Village Residences, LLC

MHEG 44 Parkville, MO

February

Investment Resources Corporation

Total Units Closed from October - February Total Units Closed in 2015

DEVELOPER

628 1,685

3-5) MHEG hosted its annual Oklahoma Luncheon on November 18, 2015, at the Oklahoma History Center in Oklahoma City. Over 75 guests were attendance for this year’s luncheon.

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

CEO Update

Region Updates

2, 3

Property Spotlight

Recent Events

Closed Acquisitions

Staff Announcements

Upcoming Events

Monthly LIHTC Rates October 2015 30%PV

AFR

3.21%

2.58%

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

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 Acot 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

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.

Save the Date: June 6th

2016 mar mheg newsletter

Published on Mar 18, 2016

mheginc

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