Rental Housing: Encouraging New Construction
Recognizes programs that best support the new construction of affordable rental housing.
Note: Individual developments are not eligible for an award.
Rental Housing entries will be judged on the degree to which they:
- Are innovative
- Are replicable
- Respond to an important state housing need
- Demonstrate measurable benefits to HFA targeted customers
- Have a proven track record of success in the marketplace
- Provide benefits that outweigh costs
- Demonstrate effective use of resources
- Effectively employ partnerships
- Achieve strategic objectives
If you have questions, please email email@example.com or call 202-624-7710.
Arizona Department of Housing:
Improving Arizona’s Rental Unit Availability through New Construction
The Arizona Department of Housing determined that the best use of its limited 9% LIHTC resources at this point in time would be to construct new units, rather than reinvesting in the preservation of existing housing. To accomplish this, the Department implemented scoring criteria to incentivize new construction and built an efficiency scoring category in its QAP to encourage production of more units. By 2020, we realized an 89% increase in new units compared to the previous 10 year average.
Kentucky Housing Corporation:
Rewarding Developer Innovation through Special Funding Pool
Kentucky Housing Corporation (KHC) began offering a special set-aside for developers. They could submit projects close to their hearts, ones that addressed an unmet need in their community by offering specialized service packages to underserved populations or offered a different spin on traditional multifamily units by incorporating unique design features. They were judged on the merits of their innovation rather than the more stringent scoring criteria of a typical LIHTC application.
Workforce Housing Development Program
The Workforce Housing Development Program is a competitive funding program that targets small to mid-size communities in Greater Minnesota that have a need for market rate, rental workforce housing. Grants or forgivable deferred loans are available to finance the construction of new multifamily residential rental properties in communities with proven job growth and demand for workforce rental housing.
Rhode Island Housing:
Housing our Workforce: Workforce Housing Innovation Challenge
There is a growing awareness of the challenges facing middle-income workers. Creating more affordable housing options for working Rhode Island families is essential to economic growth and development throughout the state. RIHousing’s Workforce Housing Innovation Challenge (WHIC) program seeks to expand the range of housing options available in Rhode Island through the creation of rental homes for households earning up to 120% AMI.
Wisconsin Housing and Economic Development Authority:
QAP Updates Create Greater Equity in Housing and Economic Opportunity
WHEDA is cultivating an ecosystem that increases equity in housing and economic opportunity. WHEDA's financing has improved the quality of life for tens of thousands of residents. Yet communities large and small still lack capacity to offer their residents safe, affordable housing. To drive systemic change, WHEDA is working to bring communities, developers, lenders and stakeholders together to leverage our collective strengths and make changes that expand the impact of our tax credit programs.