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NCSHA Washington Report | March 5, 2021
A brutal paradox of the pandemic is that some of the most financially stressed real estate assets — home to many of the most financially stressed Americans — may be increasingly attractive...
HUD Publishes Data on Housing Credit Tenant Characteristics
On March 2, the U.S. Department of Housing and Urban Development (HUD) published demographic data on tenants living in Housing Credit properties as of 2018. This data, collected annually from state Housing Credit allocating agencies as required by the Housing and Economic Recovery Act of 2008, includes details on tenant race, ethnicity, family composition, age, income, use of rental assistance, disability status, and monthly rent burden. Note that, while in the past HUD has published a formal report on Housing Credit tenant data, this year it has simply made the data available in table format with a separate background document that also provides a brief explanation of each available table.
Ribbon-Cutting for The Station at Grant Avenue Affordable Housing Development
New Jersey Housing and Mortgage Finance Agency (NJHMFA) Executive Director Melanie R. Walter today joined Plainfield Mayor Adrian O. Mapp, City Council President Steve Hockaday, Economic Development & Policy Director Valerie Jackson, South Second Street Redevelopment, LLC, funding partners and community members for the ribbon-cutting for The Station at Grant Avenue, a new 90-unit, 100% affordable housing development in the City of Plainfield, NJ, financed in part by NJHMFA.
State of Maryland Designates New Sustainable Community in Caroline County
The Maryland Department of Housing and Community Development today announced that the Town of Goldsboro has been named Maryland's newest Sustainable Community. With this designation, Goldsboro becomes the sixth Sustainable Community in Caroline County and the 122nd in the state. The Sustainable Community program provides local governments with a revitalization "toolbox" of state resources including programs, loans, grants and tax credits that can support brick and mortar community projects, small business development, job creation, and tourism.
CHFA Names Cindy Adams as Controller/Director of Accounting
Colorado Housing and Finance Authority (CHFA) is pleased to announce Cindy Adams has been named its controller/director of accounting. Adams leads CHFA’s accounting and financial reporting functions with direct responsibility and oversight to ensure CHFA conforms to generally accepted accounting principles. Adams previously served as CHFA’s financial reporting manager and brings more than 20 years of experience in the areas of accounting leadership, financial reporting, budgeting, cost accounting and overall fiscal management.
Kansas Housing Awards $6.1 Million to Prevent Homelessness, Provide Housing Stability
Kansas communities will receive a funding boost to provide emergency housing services for citizens in need. The funds, made available through the federal Emergency Solutions Grant (ESG) program, will be awarded to local communities and nonprofit organizations to support Kansans experiencing or at risk of homelessness. City of Lawrence officials used ESG funding to establish an emergency shelter campground and a temporary shelter at a local hotel. “This crucial funding has made our Woody Campground outreach program and our EconoLodge temporary shelter programs possible,” said City of Lawrence Assistant City Manager Brandon McGuire.
MassHousing Closes on $1.12 Million in Financing for New Workforce Housing on Martha’s Vineyard
MassHousing has closed on $1.12 million in affordable housing financing to the non-profit Island Housing Trust (IHT) for the recently completed Perlman House, a seven-unit, mixed-income and workforce housing development on Martha’s Vineyard. The new housing transformed the former Clark House Inn bed and breakfast into seven new affordable apartments for working households in Tisbury. “With a significant need for affordable housing for year-round residents on Martha’s Vineyard, we are very pleased to be a partner in this effort to develop seven new rental homes for moderate-income families on the island,” said MassHousing Executive Director Chrystal Kornegay.
RIHousing Opens Sign-Ups for RIers Interested in New Rental Assistance Program
RIHousing today announced the launch of a new webpage and sign up form for Rhode Island renters and landlords interested in the state’s new rental assistance program. RentReliefRI is the agency’s new rent relief program scheduled to be rolled out at the end of March. Interested applicants can sign up now to receive email notifications once a launch date has been announced. Funded via $200 million in rent relief funds from the federal Emergency Rental Assistance (ERA) Program, the new rental assistance program known as RentReliefRI will help eligible Rhode Island renters struggling to pay their rent or utilities as a result of the COVID-19 pandemic.
CHFA Receives $3 Million Capital Magnet Fund Award to Finance Affordable Housing from the U.S. Treasury’s CDFI Fund
March 02, 2021, The United States Department of the Treasury’s Capital Magnet Fund has awarded $3 million to the CHFA. CHFA will use the award to prevent and end homelessness, particularly for those with disabilities, and finance affordable housing for target populations with extremely low– and very low- income. The Treasury Department awarded a total of $175.35 million dollars to 48 organizations nationwide for the preservation, rehabilitation, development or purchase of affordable housing for low-income communities, as well as related economic development and community service facilities such as day care centers, workforce development centers and health care clinics. CHFA is one of only five state Housing Finance Agencies in the country to receive an award.
House Passes American Rescue Plan Act; Senate Could Act This Week
Early Saturday morning, the House of Representatives passed the $1.9 trillion American Rescue Plan Act, H.R. 1319, providing the COVID-19 relief sought by President Biden. The bill, which is moving through Congress under procedural rules allowing it to pass the Senate with a simple majority, passed the House without any Republican support.
PHFA Launches New, Forgivable Down Payment and Closing Cost Assistance Loan
The Pennsylvania Housing Finance Agency today is launching a new home purchase assistance loan that is “Forgivable In Ten years,” hence its name K-FIT. The loan will be used to assist homebuyers with their down payment and closing costs. K-FIT is a forgivable second loan, with 10% forgiven each year over 10 years. As a result, no monthly payment is required. “Experience shows that down payment and closing costs are two of the biggest barriers to homeownership that buyers face,” said PHFA Executive Director and CEO Robin Wiessmann.
New Hampshire Housing Launches Community Heroes Homebuyer Initiative
In appreciation of the vital services that New Hampshire’s essential frontline workers have been providing during the COVID-19 pandemic, New Hampshire Housing has launched a special initiative to help them become homeowners. The new Community Heroes Initiative provides a $3,000 closing-cost credit to eligible first-time homebuyers who finance through one of New Hampshire Housing’s Plus mortgage programs. Eligible borrowers include healthcare, daycare and eldercare workers; law enforcement officers, firefighters and first responders; educators; and active members of the Armed Services.
