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October 2016
 

In This Issue
Portfolio Highlights
Fully Qualified
Congratulations to the following properties who achieved 100% occupancy in the last 30 days:

City Lights - Atlanta, GA
Country Estates - Farmville, VA
Fair Grove Apartments - 
Snow Hill, NC
Wickford Apartments - Henderson, NC

Expanding Our Portfolio
CAHEC has added the following property to our portfolio in the last 30 days: 

Parrish Greene - Estill, SC
Developer: Woda Construction
New Construction - 28 units for families
Inside CAHEC
We're Hiring  
Click here for a current listing of employment opportunities. 
 
Quick Links

Tragedy to Triumph
   
 
"When I was 19 years old, I was no longer living at home with my mother and two sisters. One day, I went to visit my mother and called out for her as I walked into the house. No one answered. I made my way into the kitchen and noticed that milk was spilled on the floor. Immediately, I knew something was wrong. Later, I received a phone call from my aunt explaining that my mother had suffered a stroke, leaving her paralyzed on the left side of her body."

This is how the story of Ali Jenkins, a resident of Pelham Village Apartments, began, as he explained what motivated him to pursue his graduate degree in biblical studies. "I prayed that my mother would be ok, and I made a promise that I would take care of her and my sisters if she survived." And she did.

To keep his promise, Ali found a job that would allow him to provide for his family while his mom was unable to work. Over time, his mom recovered and could independently take care of herself, but Ali remained the family's sole financial support. He understood that his income was providing the necessities, but slowly realized his "dead-end job" couldn't support them forever. Ali knew that an education was the only way to ensure his income would improve, so he applied to Benedict College and began his undergraduate degree in sociology.

During his undergraduate coursework, Ali realized his love of counseling and decided to pursue a graduate degree in biblical studies. "I believe I have lots of invaluable knowledge to share; a career in ministry will allow me to teach all that I've learned." Ali later learned about CAHEC's David T. Peet Adult Education Grant, and has since received $8,000 in educational assistance. "This grant helped me to pay for tuition and the books and supplies I needed to succeed. It allowed me to focus on my education rather than how I was going to pay for it. I'm so thankful for what this scholarship has done for my family."
 


CAHEC Launches New Website
 

After months of hard work, we're pleased to announce the release of our newly designed website! Our goal was to create an interactive and responsive site that provides visitors an effortless way to learn about what we do, while ensuring our partners have easy access to the resources they need. We encourage you to explore the new design, as we wil l be continuously updating the website with newsletters, company announcements, and industry-related information.

Feel free to reach out with any questions or feedback. We hope you find the new website fresh, modern, and easy to navigate. 
 

Our Mission in Action  
 
  • CAHEC recently attended the grand opening celebration for Arbor Glen in Lenoir, NC. Our staff was excited to see the fitness equipment provided by CAHEC's Rex Williams Wellness Grant! Residents will be able to utilize various bikes, an elliptical, and free weights, to help them maintain an active lifestyle!
  • CAHEC continues to celebrate our wellness and education initiatives by congratulating Barony Place Apartments in Moncks Corner, SC, on receiving CAHEC's Technology Resource Grant and Rex Williams Wellness Grant!
CAHEC is more than a provider of equity financing. We are committed to being a relevant presence within the communities we serve by supporting a number of initiatives that provide sustainable opportunities such as loans, grants, and our unique Community Investments to our partners. A detailed overview of our Community Investments grants can be found on our website To schedule an orientation or for assistance, please contact Stefanie Lee at 919-645-9825 or slee@cahec.com .
 


Affordable Housing in 2016: A Call to Action
 
By Andrew Foster, CAHEC Board Member

Harvard's Joint Center for Housing Studies recently released the "2016 State of the Nation's Housing Report."  For those of us committed to ensure that all individuals and families have access to safe, decent, and affordable housing, the report should be a dramatic call to action.  Highlighted below are important report findings, along with steps we can take to address the country's affordable housing crisis.

Some of the key findings are:
  1. Home ownership rates are at nearly fifty-year lows. This is true across all demographic groups, but is most pronounced for younger adults. The foreclosure crisis clearly is a significant contributor to these historically low rates of home ownership, but other factors such as lack of available credit, slow income growth, and delayed household formation are also at play. As a result, while home ownership is likely to increase if income continues to rise and the economy strengthens, it is unclear whether ownership rates will ever return to pre-recession levels.
  2. At least in part due to lower rates of home ownership, the demand for rental housing is extraordinary. This has resulted in an increase in rents and a decrease in vacancies. In fact, vacancy rates have fallen for at least five consecutive years. The consequences of this for low- and moderate-income renters have been stark.
    • Since the start of the Great Recession, the number of "cost-burdened" renters (those paying more than 30% of their income for housing) has increased by 3.6 million to 21.3 million households.
    • The number of "severely cost-burdened" renters (those paying more than 50% of their income for housing) grew by 2.1 million to a record 11.4 million.
    • 72% of the lowest income renters pay more than 50% of their income for housing.
Read More 
 


Registration Closes Soon: C3P Training 
 
CAHEC has teamed up with Spectrum Seminars to offer a two-day C3P Training Seminar on November 10 and 11 at the American Tobacco Campus, located in Durham, NC. Steve Rosenblatt of Spectrum Seminars will be leading this highly-acclaimed training on LIHTC Compliance, which will cover everything from the program basics to rent calculations and utility allowances. The seminar will conclude with the C3P Certification exam.
 

 
What: Two-Day C3P Training Seminar
When: November 10-11, 2016
Where: American Tobacco Campus
318 Blackwell Street, Durham, NC 27701
American Underground Classroom on the Ground Floor of the Strickland Building

Seats are limited to the first 50 registrants, so hurry and register by the October 31 deadline.  For more information about registration, please visit our website.       

 


CAHEC on the Road
 
CAHEC will be attending the following upcoming events:
  • Novogradac New Markets Tax Credit Conference - October 19 - 21 - New Orleans, LA
  • Affordable Housing Investors Council Meeting - October 19 - 21 - New Orleans, LA
  • Columbia Mechanicsville Ribbon Cutting - October 20 - Atlanta, GA
  • NAHMA Fall Meeting - October 23 - 25 - Washington, D.C.
  • Vermilion Frame Raising Ceremony - November 2 - Durham, NC
  • Virginia Governor's Housing Conference - November 16-18 - Roanoke, VA