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HFA News
Governor Wolf Announces Investment of Tax Credits in North Philadelphia to Build Transformative Mixed-Use Development
Governor Tom Wolf today announced that Commonwealth Cornerstone Group has completed a New Markets Tax Credit transaction of $16.5 million to help fund construction of a new shopping complex and 98 mixed-income units of rental housing along the 2000-2200 block of Ridge Avenue in North Philadelphia. The 231,000-square-foot commercial shopping complex already has four major tenants lined up to begin business when construction is completed.
Iowa Finance Authority Honored with National Marketing Award
The Iowa Finance Authority was recently honored with a national marketing award from the National Council of State Housing Agencies (NCSHA) for their 2019 annual report, which showcases the positive chain reactions affordable housing creates throughout the state of Iowa. “Housing is a leading driver in Iowa’s economic vitality, community and workforce development and health and educational outcomes,” said Iowa Finance Authority and IEDA Executive Director Debi Durham. “Communicating these success stories is essential, especially as we work to significantly increase housing options for Iowans as we grow our state.”
Housing Agency Awarded Supplemental Counseling Grant
North Dakota Housing Finance Agency (NDHFA) has been awarded a $69,472 Supplemental Comprehensive Housing Counseling Program grant for FY 2020 from the U.S. Department of Housing and Urban Development (HUD). “The HUD grant supports housing counseling services including foreclosure avoidance and rental counseling that are especially important to North Dakotans right now as we work through the personal challenges of the COVID-19 pandemic,” said David Flohr, NDHFA executive director.
Housing Assistance Available for South Dakotans Impacted by COVID-19
South Dakota Housing Development Authority (SDHDA) has been awarded $10 million to assist South Dakotans who have been financially impacted by COVID-19 and need help paying their housing expenses such as rent, mortgage, and/or utilities. The assistance, funded by the State of South Dakota from the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act, can provide South Dakotans with up to $1500 a month.
Rural Affordable Workforce Housing Initiative Moves Forward With Pilot Communities, Supplemental Financing Tools
An effort by the Wisconsin Housing and Economic Development Authority to address the state’s shortage of rural affordable workforce housing is moving forward with the selection of three pilot communities and new financing tools for homebuyers and developers in rural areas. “If Wisconsin is to thrive, access to safe, affordable housing is critical for rural residents, employers and communities,” said Gov. Tony Evers.
MassHousing Closes $64.7 Million in Financing for the Acquisition, Rehabilitation and Long-Term Preservation of the Blue Mountain Apartments in Roxbury
MassHousing has closed on a total of $64.7 million in affordable housing financing to the non-profit NHP Foundation for the acquisition, rehabilitation and preservation of the historic, 217-unit, Blue Mountain Apartments in Roxbury. As a result of the transaction, all 217 homes at the Blue Mountain Apartments will remain affordable to low-income households through at least 2045.
Kansas Housing Establishes Kansas Eviction Prevention Program, Announces $35 Million in Statewide Rental Assistance
Tenants and landlords experiencing financial hardship as a result of the COVID pandemic may receive up to $5000 in rental assistance per tenant household, thanks to a new statewide relief initiative. The Kansas Eviction Prevention Program (KEPP), funded through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, authorized by Governor Kelly’s Strengthening People and Revitalizing Kansas (SPARK) Taskforce, and administered by Kansas Housing Resources Corporation (KHRC), serves tenants and landlords who have missed paying or collecting at least one rent payment since April 1, 2020, due to the COVID pandemic.
Kathryn Grosscup Named CHFA Housing Tax Credits Manager
Colorado Housing and Finance Authority (CHFA) is pleased to announce that Kathryn Grosscup has been selected as its new manager of housing tax credits. CHFA is the allocating agency of federal and state housing tax credits in Colorado, which are awarded to developers of affordable rental housing. In this role, Grosscup is responsible for the day-to-day administration of CHFA’s tax credit allocation program and leading CHFA’s tax credit team.
Housing Choice Voucher Program’s Eastern Shore Waiting List to Open November 2, 2020, to November 30, 2020
The Maryland Department of Housing and Community Development today announced that the Housing Choice Voucher Program waiting lists will open for Caroline, Dorchester, Kent, Somerset, Talbot, Wicomico, and Worcester counties. Applications will be accepted online only from 9:00 a.m. on November 2, 2020, through November 30, 2020, at 5:00 p.m.
DCHFA Finances Affordable Housing Development in NoMa
Within a week the DCHFA has closed on its second transaction of Fiscal Year 2021 by funding the construction of 220 new affordable apartments at Northwest One. On October 16, DCHFA issued $29.9 million in tax-exempt bond financing and underwrote $17.4 million in four percent low income housing tax credit (LIHTC) for the first phase of the Northwest One located in Ward 6’s NoMa neighborhood. The project is a component of the Northwest One Redevelopment Plan, which is a New Communities Initiative from the Office of the Deputy Mayor for Planning and Economic Development (DMPED).
