HFA News
Affordability Extended for Lower-Income Seniors at New Bedford Housing Community as a Result of $42.7 Million in MassHousing Financing
MassHousing has provided $42.7 million in affordable housing financing to Affordable Housing and Services Collaborative (AHSC) to preserve and extend the affordability for lower-income senior citizens for at least 36 years at the 327-unit Melville Towers in New Bedford. “Melville Towers has been a longstanding source of quality affordable housing for senior citizens in New Bedford,” said MassHousing Executive Director Chrystal Kornegay. “We are pleased that this transaction will ensure that these homes will remain affordable to the residents there for at least 36 more years.”
Julie Brewen Named Chair of Colorado Housing and Finance Authority Board of Directors
Colorado Housing and Finance Authority (CHFA) is pleased to announce that Julie Brewen, chief executive officer of Housing Catalyst, has been named CHFA’s board chair for the 2020-2021 board term. CHFA’s 11-member board serves as the governing body of the organization and establishes policies to further its mission of affordable housing and community development.
VHFA Grants $120,000 to Help Meet Immediate Housing Needs Arising From Coronavirus Pandemic
In response to the Coronavirus pandemic, Vermont Housing Finance Agency (VHFA) announced today the award of $100,000 in grants to the state’s nonprofit housing providers and public housing agencies. Another $20,000 will be donated to Vermont-based 501(c)(3) nonprofit organizations selected by VHFA’s 38 staff members.
Housing Agency Urges North Dakotans to Talk to Your Mortgage Servicer or Landlord First; Don’t Become a Victim of a Financial Scam
NDHFA is encouraging households facing financial difficulties because of the Coronavirus (COVID-19) to notify their mortgage loan servicer or landlord if they are unable to make their mortgage or rent payment. “Our loan servicing department has fielded multiple calls and emails from individuals and families who are facing financial difficulties because of virus-related shutdowns,” said Dave Flohr, NDHFA interim executive director. “We want our borrowers to keep calling us. Now is the time to talk to the people you can trust.”
Governor Murphy Announces Effort to Help Renters, Homeowners Threatened by Potential Foreclosure
Governor Phil Murphy today announced an expanded housing counseling initiative to help New Jersey renters and homeowners who are threatened with a loss of housing due to the COVID-19 crisis. At the direction of Governor Murphy, the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) housing counseling initiative is expanding to include renters, who may be concerned with eviction, and homeowners who may need counseling to help prevent possible foreclosure. These services are available at no cost to the consumer.
PHFA Shares Initiatives to Maintain Affordable Housing During Financial Pressures Brought on by the Coronavirus and Health-Safety Efforts
The Pennsylvania Housing Finance Agency is playing a leadership role during the coronavirus pandemic as it works to reduce the impact on Pennsylvanians with limited housing budgets. It is promoting information sharing and recommended practices with organizations across the commonwealth that provide housing and supportive services. Its main goal is to promote housing stability during a period of financial instability for some.
Governor Wolf Announces Projects to Receive $2.8 Million for Community Revitalization
Governor Tom Wolf today announced the six projects to be awarded $2.8 million for the construction or rehabilitation of mixed-used developments. The funding was raised through the sale of tax credits under the Mixed-Use Development Tax Credit Program, the proceeds of which are being used to fund the work of the Community Revitalization Fund Program.
MassHousing Provides $9.9 Million in Financing for the Acquisition, Renovation and Preservation of Affordability at the 89-unit Colonial Village for Lower-Income Senior Citizens in Weymouth
MassHousing has closed on $9.9 million in affordable housing financing to an affiliate of Pennant Housing Group for the acquisition, renovation and preservation of the 89-unit Colonial Village Apartments in Weymouth. The transaction resolves an expired long-term affordability restriction and preserves affordability at the 89-unit property, which is home to low-income senior citizens, for at least 15 years.
Governor Wolf Announces Funding to Renovate Vacant Commercial Space in Lancaster with a Thrift Store and Grocery
Governor Tom Wolf today announced that Commonwealth Cornerstone Group (CCG) has completed a $5 million New Markets Tax Credit (NMTC) transaction to renovate a vacant commercial building in Lancaster creating a combination thrift and grocery store. The new retail shop plans to open this year. The 27,000-square-foot retail space, located at 515 N. Franklin St., will be known as Treasures Market, and it aims to provide affordable merchandise and fresh food in a section of Lancaster that currently lacks access to these items.
