Just got off a call with Paul Rothrock and I think this quote probably sums it it: “It's fucking cool to be a Sounder.”
30.12.2025 00:13
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Just got off a call with Paul Rothrock and I think this quote probably sums it it: “It's fucking cool to be a Sounder.”
We don’t take a ton of submissions, but sometimes we’re totally blown away. This was one of those times. www.sounderatheart.com/2025/12/how-...
The bigger picture here is these programs emerging as a new tool for HFAs to shape their housing markets without needing to rely on overdrawn federal resources like LIHTC or PABs. Goal here is to eke out additional affordable production when those are exhausted.
The report looks at recent programs set up in Massachusetts, New York, and Michigan, exploring their formation, function, and successes to date. www.datawrapper.de/_/534TG/?v=4
Earlier this week we released a new report on how state HFAs are establishing revolving funds to unstick stalled deals and build more mixed-income housing: publicenterprise.org/report/a-new...
“They’ve got Messi … but we’ve got Paul Rothrock.” @lobbingscorchers.com killed it with this edit.
In Kuntz's interview with Howard & Donovan he talks about the Joveljic trade as resulting from a $500K cap hit as he aged out of U22. On the one hand, it feels like a silly arbitrary cut off...on the other, it wasn't a surprise he turned 26. This could have been planned for. They just went all in.
I'm in @heatmap.news last night explaining how the proposed phaseout of the IRA's energy credits, if passed into law, would impact energy markets NOW.
(The "marginal tax rate" arg comes from my colleague @cthelala.bsky.social!)
Great overview of what to expect from @robinsonmeyer.bsky.social:
I'm in Utility Dive today explaining why the Ways & Means reconciliation proposal is tantamount to a repeal of the energy tax credits.
The PIS change, the E&C recissions, and the end of transferability are a toxic cocktail:
www.utilitydive.com/news/house-g...
It's been difficult to see so many extremely qualified friends and colleagues depart the federal government the past few weeks. Attention will shift to state and local actors, but it's important to remember the pendulum is always swinging...
publicenterprise.org/public-servi...
Direct link to the report here: publicenterprise.org/report/commi...
Latest newsletter from @publicenterprise.bsky.social is out today. The highlight for me is a great report from @advaitarun.bsky.social and @buddyyakov.bsky.social on how policymakers can help spur geothermal energy by building upon the tech that powered fracking.
mailchi.mp/publicenterp...
One man made the trip from San Francisco, CA to Sandy, UT to support his local NPSL team, brought a flag and banner and got to see them pull off a huge upset against an MLS Next Pro Team and waved that giant flag up to the end of the game (note him in the top left of the frame)
the USOC rules
Seattle is voting next week on a new, small tax on the city's biggest companies to fund the Seattle Social Housing Developer, whose start was approved by voters in 2023.
An exciting opportunity for a US city to show how it can lead on directly developing new, mixed-income social housing projects!
In the face of a relentless attack by the president & allies on the public sector, we need an opposition that can articulate support for the value of the civil service; the value of people who take jobs to help others, not to make a profit; the value of government initiative for public betterment.
Great piece from Diana Lind on specific code changes to harden homes and protect from fires. She describes resistance from owners about making the changes, but it feels like insurance cos. could easily incentivize changes with what coverage they offer.
open.substack.com/pub/thenewur...
In short, this change should give a small financial boost for some RAD-converting properties
That's why this notice is so important - it tweaks the upper limit for RAD/Section 18 blends, allowing up to 90% of units to go out under Section 18, up from 80% and widens eligibility. I wrote a little bit about this change for @publicenterprise.bsky.social: publicenterprise.org/huds-new-sec...
The average amount of rehab in RAD deals continues to go up, along with the percentage of deals pursuing blends. It's one of the few ways to leverage more funding to undertake deeper rehab.
It may seem strange that a notice focused on “demolition and disposition” of public housing is be crucial to its preservation, but RAD/Section 18 blends are one of the main tools used to improve converting projects finances, allowing them to access higher funding (110% FMR) for S18 units.
ICYMI: HUD released updated guidance in December related to public housing properties pursuing a RAD conversion in conjunction with a Section 18 demolition/disposition action (known as a RAD/Section 18 blend). This is an under the radar move that will provide a boost to RAD-converting properties...
Loving the new redesign of state-level pages on @HUDgov. Each state landing page now follows the same hierarchy as the main site and love that the remaining sections are organized by user-center questions, e.g., I am at-risk of homelessness, what should I do?
Seattle's Anti-Housing Activists Hope for Receptive Audience as Council Takes Up Comprehensive Plan Update
publicola.com/2025/01/06/a...
The limiting factor here is internal capacity and good data from property financial statements, but it's interesting to imagine what HUD could do with better, more up to date data on its assisted properties: greater transparency, resiliency planning, risk assessments for proactive management, etc.
Also great to see HUD updates its methodology slightly and switch to using actual property data instead of indices for rising insurance costs. The indices were national and missed regional variation. It also begs the question of whether HUD might be able to use real cost data more frequently...
Here’s a quick graphic showing the difference between FY25 and FY25 OCAFs broken out by state. Note - a decrease between years just means you’re seeing a smaller increase in subsidy relative to years prior. An OCAF adjustment will never be negative.
www.datawrapper.de/_/RO5pf/
HUD aggregates a bunch of cost indices and weights them based on the typical percentage of costs in their portfolio of properties. This administrative effort has significant real world impact. For projects that converted under RAD, it’s basically the only increase in funding you’ll see YoY…
Wrote a little bit about HUD publishing updated Operating Cost Adjustment Factors (OCAFs) this week…OCAFs are the way HUD administratively determines how much to increase project-based Section 8 subsidy amounts…
publicenterprise.org/hud-operatin...
Love this story demonstrating the impact of HUD's Green and Resilient Retrofit Program. A huge shout out to the Office of Recapitalization at HUD who designed, stood up, and distributed ~$1 billion in funding to help make affordable housing more resilient.
Earlier this year, they became the first city in New York to implement the 421-p tax program to incentivize housing development for families earning 60%-80% of the Area Median Income.
