NJHMFA Announces 2019 Round of Federal 9% Low Income Housing Tax Credits to Help Fund 1,200 Affordable Apartments
Guided by new innovative policy, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) plans to award $24 million in highly competitive federal 9 percent Low Income Housing Tax Credits (LIHTC) in 2019, which are expected to create about 1,200 affordable apartments for families, seniors and residents with special needs. The LIHTC program is the most successful tool in creating affordable housing in the country since its creation in 1986.
The Maryland Department of Housing and Community Development's Maryland Opportunity Zone Information Exchange was recently recognized as the State IT Innovation of the Year at the StateScoop 50 awards, beating out more than 40 other nominees from across the country. The annual StateScoop 50 Awards honor the best and the brightest who make state government more efficient and effective.
Maryland Department of Housing and Community Development Hosts Inaugural Maryland Youth Homelessness Symposium
The Maryland Department of Housing and Community Development this week kicked off the inaugural Maryland Youth Homelessness Symposium, held May 1-2 at the Westin Hotel in Annapolis. "Homeless youth are a critically under-noticed and under-served demographic of a population that is already marginalized," said Secretary Kenneth C. Holt during the opening program.
Standard and Poor’s Global Ratings (S&P) has affirmed its issuer credit rating for the Wisconsin Housing & Economic Development Authority (WHEDA) as 'AA' saying WHEDA’s outlook is stable. In 2018, S&P raised WHEDA’s rating to 'AA' from ‘AA-‘. “S&P’s review provides reassurance in WHEDA’s ability to meet its mission while remaining financially stable to its partners,” said WHEDA Chief Financial Officer Sherry Gerondale.
This spring, the Washington State Housing Finance Commission has approved $237 million in financing for the construction or preservation of 966 affordable apartments statewide—including housing with services for those experiencing homelessness. “With the demand for affordable housing on a steady rise, it is now more important than ever to act to bridge the gap we see in our society today”
Florida Housing Announces Wind Down of Federal Reverse Mortgage Assistance Program for Florida Seniors
Florida Housing Finance Corporation (Florida Housing) is announcing the that the Elderly Mortgage Assistance Program (ELMORE), which assists seniors who are in default of their reverse mortgage, will close the program to new applications on June 30, 2019. Launched in 2013, ELMORE has spent more than $52million in federal funding and has assisted more than 2,600 Florida seniors with keeping their homes.
A topping-out ceremony today marked the near completion of a new transit-oriented development that will provide 100 mixed-income rental apartments and included New Jersey Housing and Mortgage Finance Agency (NJHMFA) staff, local officials and representatives of The Alpert Group. Valley Road Residential features a five-story building with 45 market-rate apartments and 55 that are affordable for households earning up to 60 percent of the area median income (AMI).
NJHMFA Executive Director Charles A. Richman, local officials and The Michaels Organization broke ground today on a major renovation of 64 townhomes that will preserve historic properties and affordable homes for families living in the city. Cooper Plaza Townhomes is the restoration of a five-block section of homes in the vicinity of Cooper University Hospital and the city’s downtown business district, close to jobs, transportation, shopping and schools.
SDHDA is inviting nonprofits and units of local government to submit applications for funding from the Emergency Solutions Grants program. The ESG program, funded by the U.S. Department of Housing and Urban Development, provides financing for short-term and medium-term rental assistance and services to stabilize and rapidly re-house individuals and households who are homeless or at risk of becoming homeless.
Three Eastern Shore towns and one community in Carroll County have been named Maryland's newest Sustainable Communities. With the addition of East New Market, Finksburg, Galena, and Hebron, the Smart Growth Subcabinet has designated 116 Sustainable Communities across Maryland since the creation of the program in 2010.