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.
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.
The U.S. Department of Housing and Urban Development (HUD) recently announced the recipients of grant funding to address homelessness across the nation. The funding is part of HUD’s Continuum of Care Program, which is awarded annually through a national competition. The Kentucky Balance of State Continuum of Care (KY BoS CoC), which is comprised of all Kentucky counties except Fayette and Jefferson, will receive $9.4 million dollars, an increase of more than $1 million since the previous year’s CoC competition.
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund has awarded the Wisconsin Housing and Economic Development Authority (WHEDA) a Capital Magnet Fund (CMF) grant of $3,750,000 for fiscal year 2018. WHEDA was the only awardee in Wisconsin. The U.S. Treasury awarded $142.9 million in grants nationwide to 38 organizations. A total of 116 organizations requested more than $570 million in CMF dollars demonstrating the highly competitive nature of the program.
Today, the Louisiana Housing Corporation (LHC) released a $25 million Notice of Funding Availability (NOFA) to increase and preserve affordable housing opportunities in 37 parishes impacted by Hurricanes Katrina and Rita. Specifically, $14.7 M has been allocated for recovery in New Orleans, which sustained the largest amount of damage from Katrina. The remaining dollars will be made available in all parishes that were impacted by the storms.
WHEDA has published its annual report. The report showcases the substantial impact WHEDA’s housing and economic development resources has had in helping to grow Wisconsin’s economy. The annual report success stories are excellent examples of WHEDA’s support and collaboration with its industry partners. Featured stories include a millennial couple on a home ownership mission, the rebirth of the historic Bronzeville district in Milwaukee, a shelter that provides safe harbor to homeless women and children, and new trends impacting the state’s agriculture industry.