HFA News
Familiar Name Earns CalHFA Board Member Appointment
The California Housing Finance Agency is pleased to welcome the return of Stephen Russell to the CalHFA Board of Directors under an appointment from the Senate Rules Committee. Until April of this year, Mr. Russell served on the Board as an appointee of the Assembly Speaker.
COVID Emergency Rental Assistance Program Application Period to End June 30
The Michigan State Housing Development Authority (MSHDA) has announced that it will soon have enough applications through the COVID Emergency Rental Assistance (CERA) program to encumber all funds available. Applications for CERA through the online portal will stop being accepted as of 9:00 p.m. Thursday, June 30. Michiganders with rent arrears should apply immediately for potential consideration.
LHC Announces Completion of Storm Resilient Housing Community Les Maisons de Bayou Lafourche in Lockport, LA
The Louisiana Housing Corporation (LHC) today announced the completion of the 35-unit storm-resilient affordable housing community, Les Maisons de Bayou, located in Lockport, Louisiana. LHC Executive Director Joshua G. Hollins joined Louisiana Office of Community Development (OCD) Executive Director Pat Forbes, Lockport Mayor Paul Champagne, and developer Gulf Coast Housing Partnership to cut the ribbon on the $11 million development.
Federal Rental Assistance Program Closes to New Applications
The federally funded RentReliefRI program closes to new applications at 11:59 p.m. on Wednesday, June 1, 2022. Launched in March of last year, the program provides financial assistance to cover rent arrears, forward facing rent, utility arrears and certain other housing expenses. Funded via the U.S. Treasury, the federally-funded RentReliefRI program provides financial assistance to eligible Rhode Island renters impacted by the COVID-19 pandemic.
State Sets Record for Affordable Housing Tax Credit Award Dollars
The Arizona Department of Housing (ADOH) today announced it has awarded $30.1 million in federal 9% Low-Income Housing Tax Credits (LIHTC) to 16 affordable housing projects, including 7 in rural communities. The all-time record amount comes after a reengineered process of awarding tax credits and implementation of the new State Tax Credit program.
Pritzker Administration Awards $34 Million in Tax Credits for Affordable Housing
Governor JB Pritzker and the Illinois Housing Development Authority (IHDA) Board announced today conditional awards totaling nearly $34 million in federal Low-Income Housing Tax Credits (LIHTC) that will fund 25 affordable housing developments in 15 counties across Illinois. Once sold to investors, the tax credits will generate an estimated $296 million in private capital to finance the creation and/or preservation of 1,343 affordable units for low- to moderate-income families, seniors, veterans and persons with special needs.
Governor Hochul and Mayor Adams Announce Construction to Begin on $100 Million Mixed-Use Affordable Housing Development in Queens
Governor Kathy Hochul and Mayor Adams today announced the start of construction on a $100 million affordable and supportive housing development in Far Rockaway, Queens. The 17-story building with 194 apartments is the first phase of an 11-phase master redevelopment at the former Peninsula Hospital Center site. Known as Edgemere Commons, the mixed-use community will eventually offer over 2,000 affordable homes, retail, community space, medical facilities, and outdoor public space.
Governor McKee and RIHousing Announce Funding Award to Develop a Pipeline of New Affordable Housing
Governor Dan McKee and RIHousing announced the award of $150,000 in funds to help Rhode Island develop a pipeline of sustainable, affordable and service-enriched housing developments that address specific healthcare and affordable housing needs in Rhode Island communities that require it most. The funds will help RIHousing, the state’s housing finance agency, to establish a Housing, Health and Equity Partnership with a broad range of entities and community organizations across the state.
Tax Credits Combine with Pandemic Relief Funds to Support Affordable Vermont Apartments
The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced this week that its annual award of federal housing tax credits will support the construction of 109 permanently affordable apartments in four communities across the state. The sale of this year’s tax credits to investors is expected to yield nearly $25 million in funding, which will cover an estimated 55 percent of total project development costs.
