The North Dakota Industrial Commission (Commission) announced today that six projects have received funding commitments from the North Dakota Housing Finance Agency (NDHFA) to support the construction or rehabilitation of more than 200 affordable housing units. During its most recent funding round, NDHFA allocated $3.25 million in federal tax credit authority through the Low Income Housing Tax Credit (LIHTC) program. When syndicated, the credits will generate approximately $29 million in project equity. NDHFA also awarded $2.76 million through the National Housing Trust Fund (HTF).
Secretary Holt Announces Owen McEvoy as New Deputy Secretary at the Maryland Department of Housing and Community Development
Maryland Department of Housing and Community Development (DHCD) Secretary Kenneth C. Holt today announced that Owen McEvoy will serve as Deputy Secretary for the Department. Prior to his current role, McEvoy served as DHCD's Director of Public Information where he managed a team of marketing, communications, outreach, business development and customer service professionals. During his tenure, he directed a series of business development and marketing campaigns that have enabled the Maryland Mortgage Program to achieve more than $1 billion in mortgage reservations.
South Dakota Housing Development Authority (SDHDA) would like to remind South Dakotans, who have been financially impacted by COVID-19 and need help paying their housing costs, that the application deadline is soon approaching. Applicants who submit by Friday, Dec. 18, 2020 at 11:59 p.m. CT will be considered for funding. Successful applicants may receive up to $1,500 a month. The assistance is funded by the State of South Dakota from the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act.
With California's already severe housing crisis being made even worse due to COVID-19 and the related economic challenges, Governor Gavin Newsom's Administration and the State Legislature have been searching for innovative solutions. One solution area that has received strong legislative support in recent years is Accessory Dwelling Units (ADUs), and now the California Housing Finance Agency (CalHFA) is announcing the first unit using its ADU financing pilot program has begun construction.
Lori Threadgold will lead Kansas’ housing finance operations, serving as Chief Financial Officer of the state’s housing finance agency, KHRC Executive Director Ryan Vincent announced. As CFO, Threadgold will oversee the corporation’s investment portfolio, monitor grant activity and program funds, develop financial plans, and ensure proper internal controls. “We are delighted to welcome Lori back to KHRC,” Vincent said. “Her financial background, along with her specialized housing finance experience, make her a valuable asset to our executive leadership team.”
Colorado Housing and Finance Authority (CHFA) is donating $6,095 to The Piñon Project Family Resource Center, a nonprofit that strengthens children and families in southwest Colorado by providing comprehensive services such as education, mentoring, and other programs to increase family stability. The donation was the result of Like It Forward, CHFA’s annual social media campaign to benefit Colorado nonprofits whose work aligns with CHFA’s mission to invest in affordable housing and community development. Over the course of three weeks.
WHEDA Receives $5.4 Million Grant From HUD to Support Housing for Low-Income Homeless People with Disabilities
A $5.4 million Project Rental Assistance 811 grant to the Wisconsin Housing and Economic Development Authority will help fund the development of integrated, supportive rental housing for low-income homeless people with disabilities. The grant from the U.S. Department of Housing and Urban Development will be paired with projects that have been awarded federal or state tax credits. In conjunction with the Wisconsin Department of Health Services, this funding will connect tenants with various supportive services, such as health care, transportation, education and employment services.
The Wisconsin Housing and Economic Development Authority is extending the deadline for 2021 competitive housing tax credit applications to provide additional flexibility and support for affordable housing developers navigating technology changes and COVID challenges. Deadlines for the federal 9% as well as state 4% and federal 4% programs have been extended to 5 p.m. Dec. 18, 2020. The credits are estimated at a total of $31 million for the upcoming year.
Murphy Administration Awards Federal Tax Credits To Incentivize Over Half Billion In Housing Development for Families, Seniors, Special Needs Residents
The Murphy Administration announced today it has awarded over $27 million in annual 9% federal Low Income Housing Tax Credits (LIHTC), opening the door to over 1,300 new apartments for families, seniors, and residents with special needs. The highly competitive tax credits are expected to generate over $254 million in private investment to create 21 developments valued at over $550 million to help build a stronger and fairer New Jersey. The 2020 LIHTC awardees represent exciting adaptive reuse and new development projects, including some in municipalities new to affordable housing opportunities.
Nine Kansas communities will receive a combined total of almost $2 million to develop affordable housing for moderate-income families. The funding, made possible through the state of Kansas’ Moderate Income Housing (MIH) program, provides grants or loans to develop housing and support homeownership programs in cities or counties with populations of less than 60,000. Combined with the amount leveraged by each community to support the proposed initiatives, the awards represent a total investment of $6.2 million and a net gain of 76 affordable, quality homes for rural communities across the state.