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Governor Hochul Announces $682 Million in Financing for Affordable Housing
Governor Kathy Hochul today announced $682 million in bonds and subsidies have been awarded to create or preserve more than 1,600 affordable, sustainable, and supportive homes across the state. The developments will leverage an additional $218 million in private funding to create an overall investment of nearly $901 million to further local economic development efforts, reduce homelessness, and advance New York's commitment to expanding safe, secure and healthy housing opportunities for individuals and families.
MassHousing Closes on $4.1 Million in Financing for the Development of 31 Tufts Street in Somerville
MassHousing has closed on a total of $4.1 million in affordable and workforce housing financing to E3 Development LLC, to support the transformation of a public parking lot at 31 Tufts Street in East Somerville into 16 new units of affordable and workforce rental housing.
Georgia’s Rental Assistance Program Provides Rental, Utility and Housing Stability Assistance to 35K Tenants Statewide
As America continues to recover from the COVID-19 pandemic’s overwhelming impact, many Georgians received aid that prevented evictions, housing instability, and loss of utilities. Georgia’s Rental Assistance Program (GRA) hit record numbers this week, helping to keep more than 35,000 tenants in their homes.
New Treasury Guidance Adds Flexibility for Unobligated ERA 2 Dollars
On Wednesday, the U.S. Department of the Treasury updated its Frequently Asked Questions guidance for the Emergency Rental Assistance (ERA) program to enumerate flexibilities provided under the American Rescue Plan Act for ERA 2 dollars that are unobligated as of October 1, 2022. The updated FAQs allow such funds to be used for the construction, rehabilitation, or preservation of affordable housing projects and the operation of affordable housing projects that were constructed, rehabilitated, or preserved using ERA 2 funds.
Senate Appropriations Committee Releases FY 2023 Spending Bills
Yesterday, the Senate Appropriations Committee released twelve FY 2023 appropriations bills, including the FY 2023 Transportation, Housing and Urban Development, and Related Agencies (THUD) and Department of Agriculture, Rural Development, Food and Drug Administration, and Related Agencies (USDA) appropriations bills.
Evelyn Whelton of Bank of New Hampshire Appointed to NH Housing Board of Directors; Chris Norwood of NAI Norwood Group Named Chair
Evelyn Whelton of Madison was recently appointed to the New Hampshire Housing Board of Directors by Governor Chris Sununu. She is the Senior Vice President, Retail Lending Sales Manager for Bank of New Hampshire.
Vermont Homeowner Assistance Program Awards $11 Million in Grants During First Six Months
Over $11 million of a $50 million program to pay overdue housing costs for homeowners impacted by the pandemic has been disbursed within the first six months of the program. The Vermont Housing Finance Agency (VHFA) launched the Homeowner Assistance Program (HAP) in January 2022 with funding from the federal American Rescue Plan Act. It provides grants of up to $30,000 for income-eligible homeowners.
Gov. Ige Celebrates Completion of Affordable Housing Projects On Oahu and Maui
Gov. David Ige recently joined developers on Oahu and Maui to commemorate the completion of two affordable housing projects that received significant financial support from the State of Hawaii.
State Housing Agency Awards Nearly $80 Million in Housing Tax Credits, Represents 4,024 New and Rehabbed Units Across Texas
The Texas Department of Housing and Community Affairs (TDHCA) has awarded nearly $80 million in housing tax awards in July that will help finance the development or rehabilitation of 61 rental properties throughout the state, offering reduced rents and increased housing options throughout the state.
Keynote Speaker Lineup Unveiled for 2022 Governor’s Conference on Housing and Economic Development
Lieutenant Governor and New Jersey Department of Community Affairs (DCA) Commissioner Sheila Y. Oliver today announced that HUD Region II Regional Administrator Alicka Ampry-Samuel and City of Newark Mayor Ras J. Baraka will headline as keynote speakers for the 2022 Governor’s Conference on Housing and Economic Development.
Governor Hochul and Mayor Adams Announce Groundbreaking on $189 Million Affordable and Supportive Housing Development in the Bronx
Governor Kathy Hochul and New York City Mayor Eric Adams today announced the groundbreaking on a $189 million affordable housing development in the Morris Heights section of the Bronx. Starhill Phase I will feature 326 affordable apartments, including 200 homes with supportive services for individuals experiencing homelessness.
MassHousing Closes on $16.4 Million for the Refinancing and Preservation of Affordability at the 99-Unit Stony Brook Court in Sharon
MassHousing has closed on $16.4 million in affordable housing financing to South Norfolk Elderly Housing Services, Inc. for the preservation and improvement of the 99-unit Stony Brook Court in Sharon. As part of the transaction, affordability protections for senior citizens living at the property will be extended for at least 39 years.
