HFA News
RIHousing Launches New Program to Assist Rhode Island Renters
RIHousing today announced a new rental assistance program for eligible Rhode Island renters struggling to pay their rent as a result of the COVID-19 pandemic. The agency’s HOME Emergency Tenant Based Rental Assistance Program (HOME E-TBRA) will help low-to-moderate income families negatively impacted by the unprecedented loss of jobs and income due to COVID-19. “Rhode Islanders are facing unprecedented challenges as a result of COVID-19, and we should be making every effort to help families stay safely in their homes,” said U.S. Senator Jack Reed.
SC Housing County First Initiative: Closing the Gap in Rural Homeownership
Many in rural communities feel that they are the last in line when it comes to getting the services and resources they need. Whether it is having access to broadband to stay connected, medical care for health problems, or buying a home in a community that they love, they often lag behind more urban areas. But the South Carolina State Housing Finance and Development Authority (SC Housing) is changing all of that with the launch of its new County First Initiative for these homebuyers.
Brookline Housing Community for Lower-Income Senior Citizens Will See Extensive Renovations and the Extension of Affordability with $25 Million in MassHousing Financing
MassHousing has provided $25 million in financing to the Brookline Housing Authority (BHA) to provide significant improvements to the 99-unit Morse Apartments and extend the affordability for lower-income senior citizens living there for at least 75 years. MassHousing is supporting the rehabilitation of Morse Apartments with $25 million in short and longer-term financing through the Agency’s Conduit Loan Program.
DCHFA Funds the Construction of a Second Assisted Living Community
The DCHFA is financing the construction of Ward 7’s first assisted living community, The Residences at Kenilworth Park. On August 28, DCHFA issued $58 million in bond financing and underwrote $20 million in four percent low income housing tax credit (LIHTC) for this 157 apartment development. “At DCHFA we finance affordable housing solutions for District residents at all stages in their lives. We are fully committed to supporting seniors and welcome this opportunity to invest in affordable assisted living with on-site support services east of the river, which will allow residents to age in place,” stated Christopher E. Donald, Interim Executive Director.
CalHFA Introduces New Bond Recycling Program
The California Housing Finance Agency has launched a new Bond Recycling Program which will provide an additional source of financing to address our state's affordable housing crisis. CalHFA's program, the first of its kind in California, is made possible through a partnership with Apple. "Working alongside Apple, we looked at California’s housing landscape - the dangerously low affordable housing supply and the rising cost to build while state and federal resources get increasingly scarce - and endeavored to address that issue," said CalHFA Executive Director Tia Boatman Patterson.
Affordability Extended for Lower-Income Senior Citizens at Randolph Housing Community as a Result of $27.3 Million in MassHousing Financing
MassHousing has provided $27.3 million in affordable housing financing to an affiliate of Hebrew SeniorLife to renovate and extend the affordability for lower-income senior citizens at the 160-unit Simon C. Fireman Community in Randolph. “The residents who live at the Fireman Community are seniors who share many experiences and interests, and we are very pleased that life will continue as usual for them long into the future,” said MassHousing Executive Director Chrystal Kornegay.
WHEDA Expands Financing Options for Homebuyers
The Wisconsin Housing and Economic Development Authority has expanded its single-family financing options to help more Wisconsin residents achieve the dream of homeownership. The new financing options include loans with increased down payment assistance of up to 6% of a home’s purchase price and an expanded number of lenders that may originate WHEDA Advantage FHA loans. Meanwhile, the current shortage of move-in ready homes has increased the utility of WHEDA’s Homestyle Renovation loans, which allow borrowers to finance all costs associated with purchase and renovation through a single 30-year, fixed rate mortgage loan.
MassHousing Closes on $17. 2 Million in Financing for the Acquisition and Initial Renovation of Three Affordable Housing Communities in Attleboro
MassHousing has closed on $17.2 million in affordable housing financing to the non-profit Preservation of Affordable Housing (POAH) for the acquisition and initial rehabilitation of three affordable housing communities in Attleboro. To facilitate the acquisition and the undertaking of the most pressing capital improvements at the properties, MassHousing has provided POAH with $5.9 million in financing for the 83-unit Hebronville Mill, and $11.3 million for the 144-unit combined Gardner I and II properties.
Application Period Now Open for NJHMFA’s Small Landlord Emergency Grant Program
The New Jersey Housing Mortgage and Finance Agency (NJHMFA) today announced that the application period for the Small Landlord Emergency Grant (SLEG) Program is now open. NJHFMA, whose mission is to increase the availability of and accessibility to safe, decent, and affordable housing to families in New Jersey, developed the SLEG program to reimburse small landlords for missed or reduced rent payments between April 2020 and July 2020 due to COVID-19. The SLEG is open to owners of residential properties in New Jersey with 3 to 10 rental units.
