HFA News
South End Mixed-Income Housing Community Will Undergo Major Renovation and the Preservation of Affordability with $30.3 million in MassHousing Financing
MassHousing has provided a total of $30.3 million in affordable housing financing to the Fenway Community Development Corporation for the refinancing, major renovation, and preservation of affordability for mixed-income households at the 97-unit Newcastle Saranac in Boston’s South End. Fenway CDC – in partnership with the Schochet Companies – acquired Newcastle Saranac through Chapter 40T, after the MassHousing Section 13A mortgage expired in March 2018 and the former owner intended to sell the property, putting the property’s 97 affordable units at risk of converting to market-rate rents.
MassHousing Closes on $9.5 Million in Financing for New Affordable Housing for Lower-Income Senior Citizens in Taunton
MassHousing has closed on $9.5 million in affordable housing financing to the non-profit Affordable Housing and Services Collaborative, Inc. and Taunton Revitalization, Inc., to support the construction of a new 40-unit housing community for lower-income senior citizens at the former Walker School in Taunton. The Walker School will involve the redevelopment of the vacant, former school into 40 new one-bedroom apartments. The school building will contain 16 apartments and the development team will build an addition containing 24 apartments.
Hogan Administration Announces $2.3 Million in First Round of Maryland Eviction Prevention Partnership Grants
Governor Larry Hogan today announced eight counties will receive more than $2.3 million in the first round of Maryland Eviction Prevention Partnership grants. "These awards reinforce my administration's strong support for ensuring Marylanders stay safe and secure in their homes during the COVID-19 pandemic," said Governor Hogan. "We are dedicated to assisting counties in their efforts to prevent eviction during these tough economic times."
COVID-19 Emergency Rental Assistance Program is Temporarily Suspended Due to Overwhelming Response
Due to overwhelming response, phase one of the Louisiana Emergency Rental Assistance Program (LERAP) application process has been temporarily suspended, but you can continue to sign up for notification of the opening of future phases. Administered and funded by the Louisiana Housing Corporation (LHC) in partnership with the State of Louisiana Office of Community Development (OCD), the LERAP is designed to help households financially impacted as a result of shutdowns, closures, layoffs, reduced work hours or unpaid leave due to the pandemic.
Illinois Housing Development Authority Names Karen Davis as Deputy Executive Director
The Illinois Housing Development Authority (IHDA) Board has named Karen Davis as the Authority’s next Deputy Executive Director. Davis, who resigned from her position on the IHDA Board earlier this month, brings more than twenty years of affordable housing and community and economic development experience to the organization, most recently serving as the Executive Director of the Local Initiatives Support Corporation (LISC) Central Illinois.
Pritzker Administration Awards 26,000,000 in Tax Credits for Affordable Housing
The Illinois Housing Development Authority (IHDA) Board announced conditional awards totaling more than 26,000,000 in federal Low-Income Housing Tax Credits (LIHTC) that will fund 21 affordable housing developments in 11 counties throughout Illinois. Once sold to investors, the tax credits will generate an estimated $238.4 million in private capital to finance the creation and/or preservation of 1,188 affordable units for low- to moderate-income families, seniors, veterans and persons with special needs.
Governor Ron DeSantis Announces Approval of $75 Million Coronavirus Relief Fund Dollars for Property Owners, Renters and Homeowners Affected by COVID-19
Today, Governor Ron DeSantis announced that the Florida Housing Finance Corporation (Florida Housing) Board of Directors unanimously approved the release of $75 million to local governments to assist Floridians in need of rental and mortgage assistance due to the COVID-19 pandemic. Through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Governor DeSantis made available $250 million, of which $120 million will be sent to local governments to provide rental and mortgage assistance program. The $75 million approved today is the first release of the funding to local governments.
Gov. John Bel Edwards Announces New Emergency Rental Assistance Program
Today, Governor John Bel Edwards announced the launch of what will be at least a $24 million emergency rental assistance program for renters experiencing financial hardship as a result of the coronavirus pandemic. Administered and funded by the Louisiana Housing Corporation (LHC) in partnership with the State of Louisiana Office of Community Development (OCD), the Louisiana Emergency Rental Assistance Program is designed to help households financially impacted as a result of shutdowns, closures, layoffs, reduced work hours or unpaid leave due to the pandemic.
$50 Million in New Markets Tax Credits Awarded to Support Community Development
The Colorado Growth and Revitalization Fund (CGR Fund), administered by Colorado Housing and Finance Authority (CHFA), announced today it has been awarded $50 million in New Markets Tax Credits (NMTC). The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded $3.5 billion in NMTC to 76 entities throughout the U.S., with the CGR Fund being one of three awardees in Colorado.
