Governor Larry Hogan today announced that two new communities have received Main Street Maryland designations: Reisterstown in Baltimore County and the Town of Williamsport in Washington County. Following the designation of Aberdeen in Harford County earlier this year, Main Street Maryland has now designated 33 communities statewide, supporting locally-owned businesses, events, and activities that provide residents and visitors with an authentic Maryland experience.
RIHousing announced the issuance of $142 million of new bonds, the first ‘Social Bonds’ to be offered by the agency. Social Bonds are bonds that raise funds for new and existing projects that address or mitigate a specific social issue and/or seek to achieve positive social outcomes. The sale of the bonds will finance affordable home loans and down payment assistance to low-to-moderate income first-time homebuyers in Rhode Island.
Six projects statewide will receive $2.8 million from Delaware’s Strong Neighborhoods Housing Fund to address vacant, abandoned or foreclosed properties, Governor John Carney and Delaware State Housing Authority (DSHA) Director Anas Ben Addi announced today. The Strong Neighborhoods Housing Fund is used to support community development, address crime and transform neighborhoods that are experiencing blight or other forms of stress. Through the program, abandoned properties are removed, renovated or replaced and sold to low-income residents who then become homeowners.
Governor Larry Hogan today announced more than $24.2 million in awards from the Local Government Infrastructure Program to seven local governments. Administered by the Maryland Department of Housing and Community Development, program awards will support three capital projects and enable four localities to refinance existing debt for significant long term savings. Funds were generated by a pooled bond issuance that featured the lowest interest rates in the program's history.
Joaquín Altoro, CEO of the Wisconsin Housing and Economic Development Authority, has been appointed to serve on the Consumer Advisory Board of the U.S. Consumer Financial Protection Bureau. The Consumer Advisory Board is mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to advise and consult with the bureau on a variety of consumer financial issues. Altoro said the appointment by Bureau Director Kathleen L. Kraninger provides a unique opportunity to elevate the financial concerns of underserved communities at the national level.
Florida Housing Finance Corporation Expands Program Offering Assistance to Homeless Families with Schoolchildren
The Florida Housing Finance Corporation (Florida Housing) Board of Directors unanimously approved the expansion the Housing Stability for Homeless Schoolchildren Initiative to Alachua, Bay, and Charlotte counties during the September board meeting. This program assists homeless families in regaining housing stability and economic self-sufficiency, while also ensuring their school aged children remain on track with their education.
After two months of administering CARES financial assistance for renters and homeowners, the Pennsylvania Housing Finance Agency is providing an update on the progress of both programs, which have been accepting applications since July 6. For the CARES Rent Relief Program (RRP), all 67 participating county organizations are asked to provide monthly data summaries, and the data from August are now available. The data for July has also been updated. A summary of key points taken from that data provides these insights.
Within two weeks of its last deal closing, the DCHFA has financed a second development. On September 15, DCHFA issued $19.1 million in tax-exempt bond financing and underwrote $8 million in four percent LIHTC for the construction of Spring Flats Family in Petworth (Ward 4). “Petworth is now an amenity rich and highly sought after neighborhood where housing prices have increased rapidly. Investing in Spring Flats Family helps to ensure that residents at a range of income levels, including families will have the opportunity to live in and enjoy all this neighborhood has to offer,” stated Christopher E.
RIHousing today announced a new down payment assistance program for first-time homebuyers. The “10kDPA” program provides a $10,000 down payment assistance loan to eligible homebuyers in Rhode Island. “We’re excited to be able to offer this new program to help first-time homebuyers with what is often the biggest hurdle to homeownership: the down payment,” said Carol Ventura, Executive Director of RIHousing. “Approximately 90% of our mortgage customers receive some form of down payment assistance, which greatly reduces the out-of-pocket expenses incurred during the mortgage process.”
The San Luis Valley Housing Coalition (SLVHC), along with a cohort of leaders from 25 local businesses and organizations, is spearheading efforts to launch a comprehensive study examining housing in the six-county San Luis Valley. The study will analyze the full scope of housing availability, needs, and conditions in the region. The study will include an action plan of various proposals to meet unique community needs over the next five to 10 years.