Monthly Archives: September 2015

Congressman Steve Cohen (TN-09) was joined by Mayor A C Wharton, Housing and Urban Development Director Ed Jennings, and Rosalyn Willis from McCormack Baron Salazar in announcing that Memphis will receive $30 million in federal funding to redevelop Foote Homes and revitalize Memphis after winning President Obama’s Choice Neighborhood competition. Earlier this year, the City of Memphis was selected by the U.S. Department of Housing and Urban Development (HUD) as one of nine finalists for this grant after a multi-year effort by Congressman Cohen, Mayor Wharton and others in the city, to encourage the Obama administration to designate Memphis as a Choice Neighborhood.

Nearly two dozen individuals and organizations have been nominated by their peers for a 2015 Tennessee’s Best award. Award winners will be announced during the Tennessee Governor’s Housing Conference, which is being held Oct. 7-8 at the Music City Center in Nashville, organized by the Tennessee Housing Development Agency

Memphis-area home sales for August increased 13.1 percent from a year ago, with 1,483 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales were down 12 percent from July, when there were 1,685 total sales. Average sales price from August-to-August was up 1.8 percent at $164,944. Inventory decreased 2.5 percent, with 6,374 units listed for sale. Monthly sales volume YTD increased 8.8 percent to $1.74 billion.

Under the proposed new rules, developers can earn points on their Low Income Housing Tax Credit (LIHTC) application if the property qualifies for full Enterprise Green Communities certification. In addition, other energy-saving measures that once qualified for points, such as programmable thermostats and ENERGY STAR® certified clothes dryers, will now be mandatory to be eligible for the competitive tax credit program