From: Falth Petis ate: November 30, 2016 9:32:21 AM (-08) Te: brianl@beacondevgroup.com;Paui Purcell ce: Use Vatske Subject FW: Forbes “drain the swamp” article on LIHTC Attachments: Hello Brian and Paul, ‘You asked to be updated if this article was getting attention. The ABA Housing Forum is atwitter over t this morning, Below are just 2 few of the many many emails on the topic. I've also reached out to Forrest Milder the forum moderator and am hoping to connect, with hr, Faith Faith Li Pots Partner Orciica 1 2082451700 0 206246.1715 Fath Potie@PacticaLawGreup.com Iryauhoe recsed tc ematin err lene cornet me st eti@pslesuai. cm From: ABA Forum on Affordable Housing and CD Law Members [maito: HOMEFORUM@MAIL.AMERICANBAR,ORG] On Behalf Of alison, 3. wim Sent: Wecnesday, November 30, 2016 8:20 AM ‘To: HOMEFORUMGMAIL.AMERICANBAR.ORG Subject: Re: Forbes “drain the swamp” article on LIHTC | agree with Tony. Some parts like Davis Bacon statements) had me slapping my forehead. | think things like this need to be better informed since, without the fact straight, they are even more dangerous inthis envionment. | will mention that there might be a panel at the May conference focusing on efficiency, etc, but that isa separate email that | am about to send to conference chairs, ail 4. William Callison Partner lia ctontsegreBDcem Download yard Faogre Baker Daniels LLP 3200 Fargo Center | 170 tncly Steet | Denver, CO 80203-4532, USA From: ABA Forum on Affordable Housing and CD Law Members [malto:HOMEFORUM@MAL AMERICANBAR,ORG] On Behalf OF ‘anthony S Freedman Sent: Wednesday, November 30, 2016 9:15 AM “To: HOMEFORUMGMAIL,AMERICANBAR.ORG Subject: Re: Forbes “drain the swamp" article on LTHTC WSHFC_VAL2-002764Forrest, Regardless of where the author's heart i, his head isin a distinctly les useful place. Among the facts he gets completely wrong is ‘that Davis-Bacon does not, per se, apply to LIHTC projects. Its a requirement of many subsidy and financing programs that can be used with tax creits ~ and we often structure the use of thase programs to avid it, where possible ~ but t does not apply. “Moreover, where the article encounters an actual even partial fat, its analysis is often useless. ‘There are many discussions that can be had about how propery and efficiently to subsicize affordable housing. This snot one of them. Itsimply serves to create a negative impression In aperllous environment. Tony Anthony Freedman | Holland & Knight Partner Holland & Knight LLP 800 17th Street N.W., Suite 1300 | Washington, DC 20006 Phone 202.663.7243 | Fax 202.955.5564 anthony freedman@hklaw.com | wonw.hklaw.com ‘dead book |View oerdorlbagaah From: ABA Forum on Affordable Housing and CD Law Members (malto:HOMEFORUM@MAIL AMERICANBAR.ORG] On Behalf OF Milder, Forrest Sent: Wednesday, November 30, 2016 11:03 AM ‘To: HOMEFORUM@MAIL AMERICANBAR.ORG Subject: Re: Forbes "drain the swamp" article on LIHTC Thanks for sharing this, David! few observations ~ ‘+ The author was a housing director at a Seattle non-profit, managing housing operations and development, and he is ‘also an advocate for increasing the supply of housing in that city, His heart seems tobe inthe right place. ‘+ Henotes. few studies that have placed the burden on neighborhood opposition, legal and administrative review, ‘multiple sources of financing, permitting, impact fees and reserve requirements, federal, state, or local government regulations such as prevaling wage, zoning, green building standards, and local government parking and design standards, He also notes "a review by my own organization, Smart Growth Seattle, found that affordable housing projects have many unique costs, and often cost more because of financing, construction, and labor requirements, Affordable housing projects can be more expensive than market-rate due to some of these unique costs.” ‘+ He then makes three recommendations (1) He perceives that it costs SO cents to get a dollar of subsidy, which advocates “ae reluctant to talk about;” (2) He contends that Davis-Bacon prevaling wage rules érive up costs, and hhe wonders whether “a Republican administration might more successfully challenge the lock that organized labor has on wages"; and (3) He observes that “The arbitrary way we determine what is affordable housing ~ 30 percent of iase monthly income for rent ar housing costs - doesn’t make any sense. The new administration could push for better-researched and useful measures that could expand housing options and change the subsidy structure for housing. Maybe direct cash subsidies for families would be more efficient than building a new and expensive unit Others may want to weigh in with thelr views. There is some precision in these suggestions (the article Includes links to studies and some ofthe terms used), and members ofthe Forum certainly hasa lt of expertise here! | do worry a bit about someone suggesting that we replace a competitively subsidized housing program, with private investor oversight, and a very fine 30-year track record witha direct cash subsidy program. The latter might have alot of appeal to Republicans who seem to encourage this approach to every program (eg, social security, Obamacare, ete) Forrest NP sores oa mir Partner 7/617-345-1055 | C 617-824-0803 | F 866-547-2387 Nixon Peabody LLP | 100 Summer Street | Boston, MA 02110-2131, ‘xonpeabody.com | @nixonpeabodyLLP WSHFC_VAL2-002765rmetge om you eal system, Thank you From: ABA Forum on Affordable Hovsing and CD Law Members (mailto: HOMEFORUM@MAIL, AMERICANBAR,ORG] On Behalf Of Claire Palmer Sent: Wednesday, November 30, 2016 10:27 AM ‘To: HOMEFORUM@MAIL AMERICANBAR. ORG Subject: Re: Forbes "drain the swamp article on LIHTC [wonder where it is costing $100,000 per unit, In Texas, on a 9% deal, costs are eapped if you want to get maximum points. ‘And you have to mas points to get an award, While T thought the tone was negative, the actual points he made atthe end are things that think could be beneficial. Raising the cap to 80% instead of 60% would help a lot of my clients, THE LAW OFFICES OF CLAIRE G. PALMER, PLLC CLAIRE PALMER From: ABA Forum on Affordable Hovsing and CD Law Members (mailto: HOMEFORUM@MAIL,AMERICANBAR,ORG] On Behalf Of Abromowitz, David M. Sent: Tuesday, Novernber 29, 2016 5:56 PM ‘To: HOMEFORUM@MAIL AMERICANBAR. ORG Subject: Forbes "drain the swamp" article on LIHTC Did anyone else notice this commentary and its misinformation/negative tone? http://www: forbes. com/sites/rogervaldez/2016/11/29/ideas-for-trump-to-drain-the-low-income-housing-tax-credit- swamp /Ge8ec8574605 Thank you for your continued interest in this list. A summary of your discussion list subscriptions, including HOMEFORUM, ean be found at hitps//shop amerieanbar.org/ebus/my ABA/CommunicationPreferenees.asps . This new List Subscription Page allows you to manage your lists - unsubscribe from existing or join others Ifyou have any issues you may either contact the list owner via email: HOMEFORUM.- request @mail americanbar org , or the ABA Service Center at phone: 1-800-285-2221 or email servive@americanbar org WSHFC_VAL2-002766