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HFA News
Statewide Demand for Affordable Housing Tax Credits Outstrips Federal Allocation
For the 2020 tax credit award cycle, the Wisconsin Housing and Economic Development Authority (WHEDA) has received applications from 46 developers seeking $35.9 million in federal 9% affordable housing tax credits to build some 2,209 rental units. Based on Wisconsin’s population, WHEDA received approximately $16 million in federal 9% housing tax credits for the 2019 award cycle. WHEDA does not anticipate a significant increase in that amount for the 2020 award cycle.
WHEDA CEO Altoro Gains National Honors With Two New Advisory Roles
Joaquín Altoro, chief executive officer of the Wisconsin Housing and Economic Development Authority, has gained two national honors with election to the board of directors of the National Council of State Housing Agencies and an appointment to the Community Investment Advisory Council of the Federal Home Loan Bank of Chicago.
Maryland Department of Housing and Community Development Releases Fiscal Year 2019 Annual Report
The Maryland Department of Housing and Community Development (DHCD) today released its Fiscal Year 2019 Annual Report. The department generated an economic impact of nearly $4 billion for the state, including $72 million in state and local taxes. Approximately 18,300 full-time equivalent jobs with $951 million in wages and salaries were created by Housing and Community Development's projects and activities.
WHEDA Foundation Awards More Than $1 Million in Grants for Emergency and Extremely Low-Income Housing
From Superior to Beloit and Green Bay to Richland Center, 41 organizations around Wisconsin will share $1 million in grants from the WHEDA Foundation as they work to provide emergency shelter, transitional residences and extremely low-income housing. Administered by the Wisconsin Housing and Economic Development Authority, the WHEDA Foundation grants improve housing for community members with complex challenges such as developmental disabilities, domestic abuse, incomes at or below 30 percent of the area median income, youth homelessness and chronic mental illness.
Rich Nafziger Named to Housing Finance Commission
Governor Jay Inslee has named economist Rich Nafziger to the Washington State Housing Finance Commission. Nafziger will start his four-year term on the Commission immediately. “We are excited to be joined by this dynamic leader,” said Karen Miller, chair of the Housing Finance Commission. “His perspectives on our statewide housing challenges will be extremely valuable.”
Joaquín Altoro Confirmed By State Senate to Lead WHEDA
Members of the Wisconsin Senate unanimously confirmed Joaquín Altoro as executive director of the Wisconsin Housing and Economic Development Authority Tuesday. “I’d like to thank members of the Senate for their trust and support as WHEDA works to develop innovative and collaborative approaches that address the evolving affordable housing challenges in rural and urban communities across Wisconsin,” Altoro said.
Strength of VHFA Bonds Prompts Fitch to Upgrade Rating to AA+
Strong financial performance contributed to a rating upgrade from AA to AA+ for Vermont Housing Finance Agency (VHFA)'s multiple purpose bonds from Fitch Ratings last week. AA+ is the second highest possible rating from Fitch. The rating applies to all outstanding long-term debt under the multiple purpose program and should help lower the cost of affordable housing financing through VHFA.
Iowa Finance Authority Awards More Than $6.4 Million to 27 Local Housing Trust Funds
The Iowa Finance Authority recently announced the award of more than $6.4 million in grants to 27 Local Housing Trust Funds to support local affordable housing initiatives. The grant awards are made available through the Local Housing Trust Fund program and are expected to assist more than 2,500 families. “Local Housing Trust Funds serve all 99 counties and are a critical vehicle to ensuring leaders can make local housing priorities a reality,” said Iowa Finance Authority Executive Director Debi Durham.
Affordability Extended for Lower-Income Seniors and Families at Fitchburg Housing Community as a Result of $14.4 Million in MassHousing Financing
MassHousing has provided $14.4 million in affordable housing financing to an affiliate of the Barkan Companies, to extend the affordability of the Fitchburg Green affordable housing community in Fitchburg, and make property improvements to the 159-unit property. As a result of the MassHousing financing, affordability protections for lower-income senior citizens and families living at Fitchburg Green will be extended for at least 35 years.
DSHA Announces $1 Million Awarded to Housing Development Fund Projects Statewide
Seven affordable housing projects statewide will receive a total of $1 million from Delaware’s Housing Development Fund (HDF), Governor John Carney announced today joined by Delaware State Housing Authority (DSHA) Director Anas Ben Addi, New Castle County Executive Matt Meyer, elected officials and community leaders from across Delaware. The HDF, Delaware’s housing trust fund, was created for the purpose of providing affordable, decent, safe and sanitary housing to very low-, low-, and moderate-income households.
