Alliant Capital Raises over $6.3 Billion in Total Equity

Alliant Capital, Ltd. closed its latest $175MM multi-investor Low-Income Housing Tax Credit (LIHTC) fund.

WOODLAND HILLS, Calif. – Alliant Capital Ltd. (Alliant), a privately-held national leading syndicator of low-income housing tax credits (LIHTC) announced today that it has closed $175MM of Alliant Tax Credit Fund 83. The $175 million institutional LIHTC fund is comprised of five repeat investors and three new investors. With this closing, Alliant’s total investor equity now exceeds $6.3 billion. Alliant continues to build longstanding relationships as evidenced by over 70% repeat developers in Fund 83.

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LIHTC Market Continues to Roll

Would low-income housing tax credit (LIHTC) prices reach an overall average of $1?

They’ve been inching pretty close to that lofty mark this year. A mid-year survey of 17 syndicators finds they paid an average of 97 cents per dollar of credit in the second quarter, up from 94 cents at the end of 2014.

“The competition for 9% deals, regardless of their location, has been fierce,” says Tony Bertoldi, executive vice president, syndication and investor relations, at City Real Estate Advisors. “Negotiations with developers have taken place over several rounds, and pricing is as high as we have experienced in recent history.”

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Bridge Bank Provides Perpetual Energy Systems $28 Million to Refinance 12.25 Mega Watts of Solar Energy in Northern and Southern California

SAN JOSE, CA ­­ (Marketwire) - 01/28/15 - Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, a full­service professional business bank headquartered in Silicon Valley and with offices located nationwide, announced today that it has provided Perpetual Energy Systems, an independent power producer of renewable energy, with $28 million to refinance multiple solar power plants in California.

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La Valentina wins National EPA Award

Lying vacant for over 20 years, the area surrounding the Alkali Flat/La Valentina light-rail station in downtown Sacramento was known for crime, blight, and contamination. Former auto repair shops left the area polluted with dangerous amounts of arsenic, mercury, and lead, and development in the area had all but stopped. In 2007, a public-private partnership between the city of Sacramento and Domus Development brought together community groups to address neighborhood concerns and create a new vision for the area. From that vision came a 100 percent affordable, mixed-use complex of two buildings next to the light-rail stop using cutting-edge, energy-efficient features—La Valentina and La Valentina North.

When redevelopment planning began in the Alkali Flat Neighborhood, residents were initially skeptical. Years of crime and blight left many doubtful that any plans for revitalization would be successful, particularly investments in affordable housing. However, the city and Domus engaged residents in a series of community meetings, explaining the project's goals and potential. Eventually, it was residents' preference for a mixture of housing, commercial, and retail space that became the basis for La Valentina's design.

Planning and zoning posed significant challenges for La Valentina. Sacramento's zoning laws had not been updated in nearly 50 years, allowing very limited residential infill development. The developer worked with the city to obtain dozens of permits and variances to legalize the project. The city, in turn, took what it learned from La Valentina and changed its zoning code to permit and encourage infill around the entire city.

Brownfield cleanup, energy efficiency, and environmental health were priorities for community residents and therefore key factors in the vision for La Valentina. The project site was a decades-old brownfield, and its contamination had to be fully cleaned up before any development could begin. Domus used green technology and design in construction, installing energy-efficient heating and cooling systems and appliances and open-air breezeways and staircases, to cut down on energy consumption in the buildings. Permeable paving and native, drought-tolerant vegetation reduced storm water runoff. La Valentina North contains 18 highly energy-efficient townhomes, with almost all of the energy required by residents and common areas generated by the rooftop solar panels. Proximity to transit, schools, parks, and a weekly farmers market let residents get around without having to drive, further reducing energy consumption, air pollution, and traffic congestion while saving people money and encouraging healthy living. Located near Sacramento's central business district, one-third of La Valentina's 170 residents walk, bike, or take transit for their daily commute—more than three times the national average.

La Valentina is truly changing the Alkali Flat Neighborhood. Crime is discouraged through an increased pedestrian presence, new businesses are opening, and residents benefit from on-site social services like free after-school care and adult continuing education classes. Strategically placed windows and balconies put eyes on the street around the clock, preventing much of the criminal activity that had been prevalent in the area. Surrounding lots are already slated for redevelopment, heralding more economic vitality and bringing new amenities and residents to the neighborhood. With its focus on affordability, energy efficiency, transportation choices, and brownfields redevelopment, La Valentina is a model for sustainable growth in a neighborhood with more than its share of challenges.

24-unit Vida Nueva Offers Shelter With Services

Homeless, housing advocates hope Rohnert Park project is model for future efforts North Bay Business Journal

(ROHNERT PARK) - The first 100-percent permanent supportive housing development in Sonoma County is now complete and open in Rohnert Park. The 24-unit Vida Nueva will be moving in its first tenants early this month. Permanent supportive housing is affordable housing coupled with support services designed to help the persistently homeless toward a long-term solution. It is different than many low-income housing projects in that it is not transitional, and the support services are voluntary. "One reason this project is unique is because the assistance is provided onsite", said Brian Goodman, the housing and redevelopment assistant for the city of Rohnert Park. Roger Kirkpatrick is the associate executive director for the Committee on the Shelterless, a nonprofit organization located in Petaluma dedicated to assisting the homeless. Through various programs, COTS has been serving that community for 20 years. Mr. Kirkpatrick brought up the idea of a permanent housing project to the housing administrator of Rohnert Park four years ago.

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