The Connecticut Housing Finance Authority’s (CHFA) interest rate on first-time homebuyer mortgages dropped to 2.50. “Interest rates have been decreasing over the last several years, and right now CHFA is offering 2.50%, the lowest rate in CHFA’s over 50-year history. The rate has not been this low since 2012,” said Nandini Natarajan, CHFA’s Chief Executive Officer – Executive Director. “CHFA’s mission is to help low- and moderate-income borrowers buy their first homes, and lower rates also contribute to overall affordability, in some cases allowing people to purchase a slightly larger home,” she added.
The Federal Home Loan Bank Boston has appointed Nandini Natarajan, Chief Executive Officer-Executive Director of the Connecticut Housing Finance Authority, to its Advisory Council. The 14-member FHLBank Boston Advisory Council is comprises housing and community development leaders from throughout New England who meet quarterly with staff and representatives of the board of directors to advise on the administration of the Federal Home Bank Boston’s special programs for housing and community development and collaborate to develop the Affordable Housing Program Implementation Plan and Community Lending Plan.
RIHousing today announced the availability of funding to support innovative and long-term sustainable projects to increase internet access for low- and moderate-income households across the state. The new program provides financial resources to eligible organizations and municipalities in support of initiatives to bridge the digital divide. “High-speed internet is increasingly considered a basic necessity for employment, education, and day-to-day tasks, particularly in light of the COVID-19 pandemic and the shift to remote work and school,” said Carol Ventura, Executive Director of RIHousing.
In alignment with Fair Housing priorities set by Governor Gavin Newsom’s Administration and the California State Legislature, and in recognition of the fact that historical housing discrimination is still having negative effects on the ability of Black Californians to achieve the dream of homeownership, CalHFA is honoring Black History Month by launching its Building Black Wealth initiative. The purpose of the campaign -- which includes elements of education, outreach and connection to housing resources -- is to address the significant gap in homeownership between Black families and other races.
Governor Larry Hogan today announced that overall homelessness in Maryland dropped by 24% from January of 2015 through January 2020, based on data from the annual Point-in-Time Counts. The number of chronically homeless individuals dropped by 25% and veterans experiencing homelessness declined by 35%. The state's 16 designated Continuums of Care, supported by the Maryland Department of Housing and Community Development, conduct the Point-in-Time Count which is a survey of homeless persons on a single night in January of each year.
The California Housing Finance Agency is pleased to announce that Governor Gavin Newsom has appointed Frederick P. White to the Board of Directors and reappointed member AnaMarie Avila Farias for a second term. Frederick White joins the Board as a Housing Capital Advisor for the City of Los Angeles Office of City Homelessness Initiatives, where he has served since 2019. From 2017 to 2019, White was Vice President and Senior Portfolio Manager at State Street Bank.
The Maryland Department of Housing and Community Development today released its Fiscal Year 2020 Annual Report. The department generated an economic impact of nearly $4 billion for the state, including $63 million in state and local taxes. Approximately 15,200 full-time equivalent jobs with $769 million in wages and salaries were created by Housing and Community Development's projects and activities.
Today, Governor Ron DeSantis unveiled his 2021-22 budget proposal providing $423.3 million for affordable housing programs from the State and Local Government Housing Trust Funds. Funding at this level, especially during a pandemic, shows the Governor’s persistent leadership and commitment to safely housing our citizens.
The District of Columbia Housing Finance Agency (DCHFA) has funded its first development of the new year with the issuance of $27 million in tax-exempt bond financing and the underwriting of $20.6 million in four percent low income housing tax credits (LIHTC) for the construction of a new affordable rental development at 2442 Martin Luther King (MLK) Ave SE. The construction of 2442 MLK will add 112 new apartments priced at 30 to 50 percent of area median income to Ward 8’s Anacostia neighborhood.
Alaska Housing Finance Corporation has been authorized by Governor Dunleavy and the Legislature to administer up to $200 million in federal funds to eligible Alaskan renters who have been negatively impacted by COVID-19. The new program allows for up to 12 months of financial assistance, with the possibility of extended assistance for an additional three months. Payments will be directed to landlords, property managers and utility providers.