HFA News
Maryland Department of Housing and Community Development Announces Investment in North East Biotech Company
The Maryland Department of Housing and Community Development today announced a $500,000 Neighborhood BusinessWorks loan to Clene Nanomedicine, a Cecil County biopharmaceutical company developing technology solutions for drug development. "Clene Nanomedicine is exactly the kind of innovative, forward-thinking business we are trying to attract to Maryland's Opportunity Zones," said Secretary Kenneth C. Holt. "This loan will help spur outside investment in Cecil County, and ensure an environment of economic opportunity that will transform and revitalize our most challenged communities."
DCHFA Names Monte J. Stanford, Chief Operating Officer
DCHFA has appointed Monte J. Stanford as the Chief Operating Officer (COO). As COO, Stanford will oversee daily business operations, to include the Single Family Programs and Multifamily Lending and Neighborhood Investments divisions, the Housing Investment Platform, IT and Business Intelligence. “Monte has an extensive background in housing, finance and IT that will allow him to have an immediate impact on the Agency’s programs, technology and day-to-day business operations, stated Todd A. Lee, DCHFA’s Executive Director and CEO.
CHFA Awarded $6 Million in Capital Magnet Funds to Support Affordable Housing
Colorado Housing and Finance Authority (CHFA) has been awarded a $6 million Capital Magnet Fund (CMF) grant to support the development and preservation of affordable rental housing across Colorado. CHFA was one of only three housing finance agencies in the nation to receive an award among 38 total recipients nationwide. CHFA will use the award to enhance its existing statewide housing fund that was created with a $7.1 million CMF grant awarded in 2018.
Colorado Speaker of the House KC Becker Appointed to CHFA’s Board of Directors
CHFA is pleased to announce that Colorado Speaker of the House, KC Becker, has been appointed to CHFA’s board of directors for the 2019-2020 legislative biennium. 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. “I look forward to serving on CHFA’s board and contributing to the organization’s work to strengthen housing and economic opportunities in Colorado. Affordable housing is crucial to healthy communities and essential as our state continues to face challenges in meeting the needs of all Coloradans,” said Rep. Becker.
Governor Approves Mississippi Home Corporation’s Special Opportunity Zone Cycle for Low Income Tax Credit Program
Governor Phil Bryant recently signed an amendment to include a special Opportunity Zone cycle as part of the Low-Income Housing Tax Credit Program offered through the Mississippi Home Corporation. The special cycle will add benefits to investors who invest eligible capital into the selected opportunity zones in MS. The Tax Cuts and Jobs Act of 2017 established Opportunity Zones to boost economic development and job creation in distressed communities throughout the country.
Affordability Extended at Senior Housing Community in Brighton, Property Improvements Planned, Resulting From $44.8 Million in MassHousing Financing
Senior citizens living at the 200-unit Covenant House I and II housing community in Brighton have had affordable rents extended through 2052 and will see significant property improvements as a result of $44.8 million in MassHousing affordable housing financing to the non-profit developer B’nai B’rith Housing. B’nai B’rith Housing refinanced the Covenant House property through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with partner lender Rockport Mortgage Corporation.
The Hogan Administration Announces Expansion of Cold-Weather Sheltering for the Homeless in Charles County
The Maryland Department of Housing and Community Development today announced a grant award of $242,924 to expand cold-weather sheltering for homeless individuals in Charles County. The grant will be administered through the Maryland Department of Housing and Community Development's Homelessness Solutions Program. This fiscal year, the program awarded $9.1 million in grants to support homeless shelters and services statewide.
Maryland Mortgage Program Announces New Products and Honors Top Performers
The Maryland Department of Housing and Community Development recently announced new products under the Maryland Mortgage Program before an audience of mortgage lenders, real estate professionals, mortgage insurers, and other homeownership partners at the Hotel Annapolis on February 22. The department also launched a new, consumer-focused social media presence and recognized the program's top lending partners.
Boston Public Housing Community Will Undergo Extensive Renovation With $38.7 Million in MassHousing Financing
MassHousing has closed on $38.7 million in affordable housing financing to the non-profit Inquilinos Boricuas En Accion, Inc. (IBA), for the rehabilitation and preservation of the West Newton Apartments, a 146-unit public housing community in Boston’s South End. IBA’s redevelopment of West Newton Apartments, in partnership with the Boston Housing Authority (BHA), is part of the BHA’s ongoing effort to modernize public housing across Boston.
