NAHMANewsrelease -- NAHMA Announces 2007 Affordable 50 Listing

NAHMA Announces 2007 Affordable 50 Listing

May 29, 2007, Alexandria, Va. – The National Affordable Housing Management Association
(NAHMA) today announced the release of the NAHMA 2007 Affordable 50, a list of the 50 largest
affordable multifamily property managers, ranked by affordable unit counts. The list is available at
NAHMA’s website, at www.nahma.org, as well as the June issue of Affordable Housing Finance
magazine.

The Affordable 50, created in an effort to accurately determine the size of the portfolio of
affordable multifamily units receiving federal subsidy in the United States, lists affordable units
containing at least one of following federal subsidies: HUD Project-based Assistance, Section 42
LIHTC, HOME funds, and USDA Section 515.

“The NAHMA Affordable 50 list is designed to aid the national discussion on the future of federal
funding for affordable multifamily housing,” said NAHMA President Michelle Norris, SHCM,
NAHP-e. “Affordable property managers have been adapting to the ever-changing landscape of
federal assistance requirements for years. It is time for federal assistance programs to grow and
meet the expanding needs of our nation.”

“If the affordable housing industry is to successfully contend that more federal funds are required
to address the rental housing needs of our country, we need the data to make our case,” said
NAHMA Executive Director Kris Cook, CAE. “In most government reporting, a unit that receives
a HUD project-based subsidy is counted as an affordable unit by HUD. If that same unit was built
or rehabilitated using tax credits, it is again counted by the IRS or the state allocating agency as an
affordable unit. Add HOME funds to the financing mix and it is counted a third time. NAHMA
believes that overstating the supply of affordable housing leads policymakers to believe that more
units are available than there truly are.”

NAHMA has taken steps to determine the degree to which layering is overstating the supply of
safe, sanitary, affordable housing through its annual Affordable 50 list. The goal of this survey is to
produce a list of the 50 largest affordable multifamily property managers, ranked by affordable unit
counts. NAHMA believes that benefits of the survey will include:

* It will set a foundation for annually identifying an accurate count of available affordable units by
a credible, national organization.

* It will provide valuable historical information to advocate on behalf of developers, owners,
managers, and most importantly, the residents who rely on federal funds.

* It will aid in convincing federal departments and agencies to cooperate, and in working together,
to assist in the preservation of affordable housing and the creation of improved housing policy.

* It will ensure a continued subsidy stream based on actual need.

The National Affordable Housing Management Association (NAHMA) is the leading voice for
affordable housing management, advocating on behalf of multifamily rental property managers and
owners whose mission is to provide quality affordable housing. NAHMA supports legislative and
regulatory policy that promotes the development and preservation of decent and safe affordable
housing. NAHMA serves as a vital resource for technical education and information, fosters
strategic relations between government and industry, and recognizes those who exemplify the best
in affordable housing.

For more information, contact Joe Thomas at 703-683-8630, or joe.thomas@nahma.org.

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NAHMA News Release is a notification about NAHMA related events.

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