HFA News
DCHFA Funds the Rehabilitation of 358 Apartments in Washington Highlands
On June 18, the DCHFA issued $41.7 million in tax exempt bonds and underwrote $25.3 million in four percent low income housing tax credit (LIHTC) equity for the acquisition and rehabilitation of Park Southern Apartments in Washington Highlands (Ward 8). “At DCHFA we take pride in fulfilling our mission of financing affordable rental housing options. At Park Southern the Agency’s investments help to ensure that the current and future residents will have modern homes and facilities at rates conducive to their incomes,” stated Christopher E. Donald, DCHFA Interim Executive Director.
CalHFA’s Mixed-Income Program Reaches the Missing Middle with Lower Total Development Cost per Unit
The California Housing Finance Agency has released an analysis of its Mixed-Income Program (MIP), which was launched in 2019 and expanded with additional state resources in 2020. MIP is especially novel in California where there is no other state rental housing program that provides subsidy for people making above 60% of the area median income, a group that is often called the “Missing Middle.”
$16.7 Million Dividends for Wisconsin Plan Equals Impact
A $16.7 million plan focused on affordable housing and economic development gained final approval from the Wisconsin Housing and Economic Development Authority (WHEDA) board on June 17, as members directed spending toward a rural affordable workforce housing pilot, financing for underserved markets and small business lending. On June 16, WHEDA’s amended 2019-20 Dividends for Wisconsin Plan gained approval from the Joint Committee on Finance.
Applications for CARES Financial Assistance for Renters and Homeowners Will Be Available June 29; Application Submissions Can Begin July 6
Renters and homeowners who were financially impacted by the economic slowdown related to the coronavirus pandemic will be able to access applications for rent and mortgage relief starting June 29. At that time, applications will be easily accessible from a red banner on the Pennsylvania Housing Finance Agency’s website at www.PHFA.org. PHFA is administering both programs. PHFA is currently identifying organizations in all 67 counties to help it process the large number of rent relief applications anticipated.
State of Maryland Designates Four New Sustainable Communities
Three Eastern Shore communities and one town in Western Maryland have been named Maryland's newest Sustainable Communities. With this designation, there are now 121 Sustainable Communities in the state. The program provides local governments with a revitalization "toolbox" of state resources including programs, loans, grants and tax credits that can support brick and mortar community projects, small business development, job creation, and tourism.
CHFA Awarded $453,000 for Housing Counseling
Colorado Housing and Finance Authority (CHFA) has been awarded a $453,026 grant to support housing counseling agencies located throughout Colorado. “For Coloradans who need help navigating affordable housing options or maintaining successful homeownership, HUD-approved housing counselors offer such guidance. This counseling service is a key resource to facilitate housing stability in our communities,” said Cris White, CHFA executive director and CEO.
WHEDA Offers Webinars for First-Time Homebuyers
From assessments to budgets to closing costs, free webinars offered by the Wisconsin Housing and Economic Development Authority will walk prospective buyers through the ABCs of purchasing a home. With interest rates continuing at historic lows, WHEDA’s low-cost mortgages and down payment assistance are among the tools that make it possible for qualified homebuyers to save money each month compared to what they pay in rent.
MassHousing Closes on $25.2 Million in Financing for New, Mixed-Income and Workforce Housing Community in Downtown Lowell
MassHousing has closed on a total of $25.2 million in affordable housing financing to WinnCompanies for the development of 125 new rental homes in downtown Lowell. The MassHousing financing will allow WinnCompanies to advance the redevelopment of Lowell’s Hamilton Canal Innovation District, while creating new housing for households across a broad range of incomes, including 54 new workforce housing units.
LHC Approves $106 Million to Develop Sustainable Multifamily Housing in Flood Impacted Parishes
Today, the Louisiana Housing Corporation’s (LHC) Board of Directors unanimously approved $106 million in Piggyback Resilient Mixed-Income (PRIME) funding. The move substantially addresses the needs of Louisiana’s low-to-moderate income renters who were greatly affected by the March and April floods of 2016. PRIME funding is utilized to develop resilient and sustainable multifamily properties in areas impacted by the floods.
