HFA News
MaineHousing Launches New Rent Relief Program
MaineHousing is pleased to announce the launch of the new Emergency Rental Assistance Program for Maine renters affected by COVID-19. The program officially begins accepting applications today Monday, March 1 at noon. MaineHousing will oversee the program, and has contracted with Maine’s Community Action Agencies to administer the program regionally in all 16 counties. “We are all living under the direction to stay ‘safe at home.’ We need to make sure that every Mainer has a stable home for themselves and their families,” said Daniel Brennan, director of MaineHousing.
Last Week to Apply for Alaska Housing Rent Relief
The deadline to apply for rent and utility relief through Alaska Housing Rent Relief is 11:59 p.m., Friday, March 5, 2021. Alaska renters who have been impacted by COVID-19 and now fall below 80% of Area Median Income or live in an overcrowded household or are at risk of violence may be eligible for the federally funded program that brought more than $200 million in emergency rent relief to Alaska. Payments will be directed to landlords, property managers and utility companies.
California Housing Finance Agency Executive Director Boatman Patterson tapped by Biden Administration
After spending nearly nine years in a leadership role with the Californian Housing Finance Agency, including six and a half years as its Executive Director, Tia Boatman Patterson is heading to Washington, D.C., to join President Joe Biden's Administration as Associate Director for Housing, Treasury and Commerce in the Office of Management and Budget (OMB) under the Executive Office of the President. Boatman Patterson spent two years on CalHFA's Board of Directors before then-Governor Edmund G. Brown Jr. appointed her as Executive Director in 2014, just as the Agency was starting to recover from the Great Recession housing crisis.
Nonprofit Developer and RIHousing Recapitalize Two Senior Affordable Developments in Narragansett
Preservation of Affordable Housing (POAH), a nonprofit affordable housing developer with 12 properties in Rhode Island, has closed on a second stage tax credit recapitalization for two senior communities in Narragansett with the support of tax-exempt bonds issued by RIHousing. The two senior housing communities - South Winds Apartments and Beachwood Apartments - are located a half mile apart, just blocks from the Narragansett sound. The properties comprise 104, one- and two-bedroom apartments that were originally preserved by POAH in 2004.
Congress Expands Access to Affordable Housing
The Congressional omnibus spending bill, passed at the end of December, had several key housing provisions, including emergency rental assistance and an extension of the period to use federal CARES Act funds. One key inclusion was a permanent minimum 4 percent rate for Housing Credit developments, which could offer nearly $7 million in additional funding for affordable housing projects in Vermont the next three years alone. “Our ability to build enough homes to shelter the homeless and provide safe housing for all Vermonters hinges on the supply of capital for affordable housing production.
CHFA Awarded $5.5 Million in Capital Magnet Funds to Support Affordable Housing
CHFA has been awarded a $5.5 million Capital Magnet Fund (CMF) grant to support the development and preservation of affordable rental housing across Colorado. CHFA was selected to receive an award among 48 total recipients nationwide. This is the fourth CMF award that CHFA has received, bringing the total award amount to more than $24.6 million, receiving $6 million in 2020, $6 million in 2019, and $7.1 million in 2018. “The Capital Magnet Fund is a vital resource to help address Colorado’s affordable housing shortage and CHFA is thankful to be awarded a grant for the fourth consecutive year,” said Cris White, executive director and CEO of CHFA.
Hogan Administration Launches New “SpeedSurvey” Website; Announces Progress in Expanding Broadband Access for Students
Governor Hogan today announced significant progress being made by the Governor's Office of Rural Broadband to expand high-speed broadband access for students and to improve data collection of Marylanders' internet speeds, which will be used to direct future funding and projects. "The COVID-19 pandemic has demonstrated that access to high-speed internet is essential for all Marylanders," said Governor Hogan. "My administration has been proactive and continues to build upon our successes to bring broadband to underserved communities including students who need it most."
Governor Hogan Announces $7 Million in Emergency Relief Awards for Main Street Communities
Governor Larry Hogan today announced $7 million in awards for 41 Main Street programs across the state. The funding will support small businesses and other economic recovery efforts in both the state- and Baltimore City-designated Main Street communities. Through this relief, more than 5,000 businesses will be eligible for support from their local Main Street program. "Maryland communities would not be the same without our vibrant, historic Main Streets," said Governor Hogan. "We are proud to support local small businesses and help them recover from the economic toll brought on by the COVID-19 pandemic."
CHFA Begins Issuing Single Family Social Bonds
CHFA has received a social bond designation, which allows the organization to issue bonds to support programs that have a social impact outcome. Specifically, these bonds will support homeownership programs that serve populations experiencing low and moderate incomes, and that align with the Social Bond Principles’ social project categories; affordable housing, access to essential services, and socioeconomic advancement and empowerment.
