MaineHousing has awarded $3.78 million in Low Income Housing Tax Credits (LIHTC) to five affordable housing projects in Maine. The tax credits will generate over $37 million in equity from private investors. Combined with an additional $3 million in subsidy from MaineHousing, more than $40 million of funding will create or preserve 317 housing units. Of those units, 275 will serve households at or below 60% of the area median income.
MassHousing Awards $622,095 for Affordable Sober Housing to Support Men, Women and Veterans in Recovery
MassHousing has awarded a total of $622,095 in grant funding to help create or modernize 152 affordable sober housing units in 11 communities across Massachusetts. The awarded projects will serve veterans, and men and women in recovery, including women with children. The grants come from the Center for Community Recovery Innovations, Inc. (CCRI), a nonprofit subsidiary corporation of MassHousing that helps nonprofits create or preserve affordable sober housing in Massachusetts for individuals in recovery.
David Rouse, Director of Single Family Housing for the Wisconsin Housing and Economic Development Authority (WHEDA), has been honored with the lifetime achievement award from the Wisconsin Mortgage Bankers Association. The award, presented at the mortgage bankers’ recent Best in Business banquet, recognizes Rouse’s achievements in a career featuring leadership roles in both the public and private sectors.
In her previous role as executive director of the Hmong Wisconsin Chamber of Commerce, she gained statewide recognition for her efforts to help Hmong and Asian American community members launch and scale up businesses statewide. Thao opened the chamber’s first satellite office in Wausau and leveraged some $10 million in community financing for Hmong and other Asian American community entrepreneurs.
The District of Columbia Housing Finance Agency (DCHFA) funds its first transaction of Fiscal Year 2020, 1550 First Street. DCHFA issued $21.6 million in bond financing and underwrote $14.3 million in low income housing tax credit equity for the construction of 76 affordable apartments in Ward 6.
Governor Wolf Announces Funding for New PATH Headquarters to Consolidate and Expand Services in Philadelphia
Governor Tom Wolf today announced that Commonwealth Cornerstone Group (CCG) has completed a New Markets Tax Credit (NMTC) transaction of up to $9 million with PATH (People Acting to Help) so that it can centralize its operations after renovating a historic building at 1919 Cottman Avenue in Philadelphia. A new building also will be constructed on an adjacent parcel of land as part of this project.
MassHousing Expands Its Highly Successful Down Payment Assistance Program to Create More Opportunities for First-Time Homebuyers
MassHousing today announced that it is expanding its highly successful down payment assistance (DPA) program to create more opportunities for first-time homebuyers, by opening the program to borrowers with higher incomes, allowing DPA loans to be used for the purchase of multi-family properties, and raising the maximum size of a DPA loan to 15,000 or 5-percent of the purchase price.
The fall Housing Market Report published by New Hampshire Housing Finance Authority finds little change in the housing market in the state, as rising housing prices, housing demand, and relatively low interest rates continue to support a seller’s market in the state. On the rental housing side, a low vacancy rate and a lack of availability of units makes it challenging to find an apartment, particularly in the southern tier of the state.
Commercial real estate industry expert Heather Howard is now a member of the DC Housing Finance Agency’s (DCHFA) Board of Directors. On November 18th Howard was sworn-in by Mayor Muriel Bowser. The Council of the District of Columbia confirmed Howard’s nomination to the Board on October 7, 2019.
Burleigh County Housing Authority (BCHA) marked the completion of Edwinton Place Apartments today. The Permanent Supportive Housing (PSH) project will provide 40 individuals who have experienced long-term homelessness with a stable home and offer services to address the issues that are the cause of their homelessness. BCHA Executive Director Dwight Barden said in reference to Edwinton’s ‘Housing First’ approach, “Now, the real work begins.”
Governor Ron DeSantis announced today full funding for affordable and workforce housing programs. Unveiled in his Bolder, Brighter, Better Future Budget, the Governor recommends providing $387 million to the affordable housing trust funds-- $119.8 million for the State Apartment Incentive Loan (SAIL) Program and $267.2 million for the State Housing Initiative Partnership (SHIP) Program.
Neighborhood blight and the presence of vacant and abandoned properties affect all types of communities in every corner of the state — and the Louisiana Housing Corporation wants to change that. LHC this month will hold a Blight Remediation and Abatement Roundtable for an in-depth conversation about the challenges of addressing abandoned and deteriorated homes and buildings.