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HFA News
PHFA Shares Initiatives to Maintain Affordable Housing During Financial Pressures Brought on by the Coronavirus and Health-Safety Efforts
The Pennsylvania Housing Finance Agency is playing a leadership role during the coronavirus pandemic as it works to reduce the impact on Pennsylvanians with limited housing budgets. It is promoting information sharing and recommended practices with organizations across the commonwealth that provide housing and supportive services. Its main goal is to promote housing stability during a period of financial instability for some.
Governor Wolf Announces Projects to Receive $2.8 Million for Community Revitalization
Governor Tom Wolf today announced the six projects to be awarded $2.8 million for the construction or rehabilitation of mixed-used developments. The funding was raised through the sale of tax credits under the Mixed-Use Development Tax Credit Program, the proceeds of which are being used to fund the work of the Community Revitalization Fund Program.
MassHousing Provides $9.9 Million in Financing for the Acquisition, Renovation and Preservation of Affordability at the 89-unit Colonial Village for Lower-Income Senior Citizens in Weymouth
MassHousing has closed on $9.9 million in affordable housing financing to an affiliate of Pennant Housing Group for the acquisition, renovation and preservation of the 89-unit Colonial Village Apartments in Weymouth. The transaction resolves an expired long-term affordability restriction and preserves affordability at the 89-unit property, which is home to low-income senior citizens, for at least 15 years.
Governor Wolf Announces Funding to Renovate Vacant Commercial Space in Lancaster with a Thrift Store and Grocery
Governor Tom Wolf today announced that Commonwealth Cornerstone Group (CCG) has completed a $5 million New Markets Tax Credit (NMTC) transaction to renovate a vacant commercial building in Lancaster creating a combination thrift and grocery store. The new retail shop plans to open this year. The 27,000-square-foot retail space, located at 515 N. Franklin St., will be known as Treasures Market, and it aims to provide affordable merchandise and fresh food in a section of Lancaster that currently lacks access to these items.
MassHousing Awards $249,450 for Affordable Sober Housing to Support Men, Women and Pregnant and Parenting Teens in Recovery
MassHousing has awarded a total of $249,450 in grant funding to help create or modernize 49 affordable sober housing units in Boston, Newburyport and Quincy, while also providing job training and services to homeless men and women in Boston. 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.
WHEDA Awarded $3,375,000 From Capital Magnet Fund
The U.S. Department of the Treasury's Community Development Financial Institutions Fund has awarded the Wisconsin Housing and Economic Development Authority a Capital Magnet Fund grant of $3,375,000. For fiscal year 2019, the U.S. Treasury awarded a total of $130.9 million in grants nationwide to 38 organizations for the development of affordable housing and community facilities in low-income communities. WHEDA was the only awardee in Wisconsin and since 2016 has received four consecutive awards totaling more than $17.8 million.
By Reducing Interest Rates to Historic Lows, VHFA Expands Homebuying Opportunities Statewide
This week marked VHFA’s offering of the lowest interest rates in the agency’s history for Vermont homebuyers. Rates as low as 3.0% became available on 30-year mortgages made through VHFA’s programs, available exclusively through its statewide network of participating lenders.
Murphy Administration Announces $50 Million Initiative to Provide Affordable, Supportive Homes for Residents with Special Needs
To help meet the state’s critical need for permanent and affordable supportive housing, the Murphy Administration announced today a new $50 million initiative from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) which will provide funding for 400 apartments for residents with special needs.
CHFA Awarded $6 Million in Capital Magnet Funds to Support Affordable Housing
Colorado Housing and Finance Authority (CHFA) has been awarded a $6 million Capital Magnet Fund (CMF) grant to support the development and preservation of affordable rental housing across Colorado. CHFA was selected to receive an award among 38 total recipients nationwide. This is the third CMF award that CHFA has received, bringing the total award amount to more than $19 million, receiving $7.1 million in 2018, and $6 million in 2019.
Housing Agency Honors Outstanding Partners With Champion Awards
North Dakota Housing Finance Agency recognized ten of the lending institutions, loan officers and real estate agents who promote its homeownership program as Champions of Affordable Housing. The state agency provides individuals and families, primarily first-time buyers, with low-cost financing, and down payment and closing cost assistance.
