On March 4, 2019, the Florida Housing Finance Corporation (Florida Housing) will relaunch the Florida Hardest-Hit Fund Down Payment Assistance Program (HHF-DPA) in five approved counties. This federal program was implemented to prevent foreclosures by stimulating home purchase activity and stabilizing neighborhoods in certain counties that demonstrated high levels on housing market distress. HHF-DPA provides up to $15,000 in down payment and closing cost assistance to eligible first-time homebuyers and is forgivable over five years.
RIHousing, RI Office of Innovation Narrow the Digital Divide through Partnership with T-Mobile and Santander Bank
At an event held yesterday, Lieutenant Governor Dan McKee, T-Mobile and Santander Bank joined RIHousing and the Rhode Island Office of Innovation to launch a pilot program to connect residents to affordable, in-home broadband internet access. Known as ConnectRI, the program, aimed at eliminating the digital divide among Rhode Islanders, is a partnership between RIHousing, the state’s Office of Innovation, T-Mobile, Santander Bank, Providence Public Library and local public housing authorities.
Governor Phil Scott has appointed Katie Buckley of Brattleboro and Fred Baser of Bristol to VHFA’s Board of Commissioners. Until recently, Katie Buckley served as Commissioner of the DHCD. In that role she sat on VHFA’s Board as the appointed designee for Michael Schirling, Secretary of Agency of Commerce and Community Development. Buckley now works as Development Director for M&S Development, a community development management firm in Brattleboro. Buckley became the new Chair of the VHFA Board of Commissioners this month.
Kentucky Housing Corporation (KHC) is pleased to announce the funding awards for the Fiscal Year 2019 application round competing for Low Income Housing Tax Credits (Housing Credits) and other program resources. KHC received 30 applications requesting more than $21 million in Housing Credits and was able to fund 19 projects with $13,747,583 of 2019 Housing Credits in conjunction with $2,140,000 of HOME Investment Partnerships Program (HOME) and $1,500,000 of Affordable Housing Trust Fund (AHTF).
MassHousing Provides $25 Million in Financing for Latest Phase of Rental Housing Development at Olmsted Green in Mattapan
MassHousing is providing $25 million in affordable housing financing to Lena New Boston, to support the latest phase of rental housing development at Olmsted Green in Mattapan. With the MassHousing financing, Lena New Boston, a partnership between Lena Park Community Development Corporation and the New Boston Fund, will advance the latest phase of Olmsted Green, and construct 100 new units of mixed-income rental housing, including 40 new workforce housing units.
Boston Public Housing Community Will Undergo Extensive Renovation With $14 Million in MassHousing Financing
MassHousing has closed on $14 million in financing to Beacon Communities LLC for the rehabilitation and preservation of affordability at the 72-unit Camden Apartments in Boston. The Camden Apartments is a state-aided public housing community currently operated by the Boston Housing Authority (BHA). As part of its ongoing effort to modernize public housing across Boston, the BHA has designated Beacon Communities to redevelop the Camden Apartments property.
South Dakota Housing Development Authority (SDHDA), in partnership with the Governor’s Office of Economic Development (GOED), will be hosting a public meeting to discuss housing and community development priorities. The meeting is an opportunity for the public to provide their comments, suggestions and ideas for how state and federal dollars should be utilized for housing and community development. All housing and community development initiatives and policies are then outlined in the program allocation plans, outlining how SDHDA and GOED will administer the financing programs.
Mayor Bowser and DC Housing Finance Agency Announce New Mortgage Assistance Program for Furloughed Federal Employees
Today, as the partial federal government shutdown extends into its second month, Mayor Bowser and the DC Housing Finance Agency (DCHFA) have announced a new program to provide mortgage assistance to District homeowners who are furloughed federal government employees. Through the District of Columbia Mortgage Assistance Program (DC MAP), financial assistance will be made available to qualified homeowners in the form of a zero-interest, recourse loan. DCHFA has allocated $9,000,000 for DC MAP and qualified homeowners will be able to receive up to $5,000 a month.
MassHousing Provides $50 Million for the Refinancing and Renovation of the 489-Unit Chestnut Park Apartments in Springfield
MassHousing is providing $50 million in affordable housing financing to Related Companies, to refinance and renovate the Chestnut Park Apartments in downtown Springfield. The MassHousing financing will allow Related to preserve affordability at the 489-unit housing community, while making a significant capital investment in the property. As part of the transaction, Related will create 77 workforce housing units that will be affordable to moderate-income households.
In calendar year 2018, the Wisconsin Housing and Economic Development Authority (WHEDA) provided mortgages to 3,918 individuals and families totaling $497.6 million. This is the best WHEDA single family lending volume since 2007, just before the housing crisis hit in 2008. “This is an amazing accomplishment,” said WHEDA Single Family Director David Rouse.