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FHFA, Treasury Allow GSEs to Retain Capital
Federal Housing Finance Agency Director Mark Calabria and Treasury Secretary Steven Mnuchin announced earlier today that they have agreed to allow the government-sponsored enterprises Fannie Mae and Freddie Mac to retain additional capital. The agreements amend the Preferred Stock Purchase Agreements both GSEs entered into with Treasury as a condition for receiving federal assistance in 2008
DCHFA Ends FY 2019 Preserving Affordable Housing through its Risk Share Program
DCHFA closes Fiscal Year 2019 by funding the preservation of 195 affordable apartments through the Agency’s HUD Level I Risk Share program. On September 27, DCHFA issued $25 million in bond financing and underwrote $15.3 million in low income housing tax credit equity for the rehabilitation of Randle Hill Apartments in the Congress Heights neighborhood of Ward 8.
State OKs $35M for Housing
The Florida Housing Finance Corporation Board of Directors has unanimously approved funding four workforce housing projects in Monroe County, as part of a housing strategy implemented after Hurricane Irma. In July, the Florida Finance Housing Corp. started an application process, offering $25 million of the Rebuild Florida Workforce Housing Program for the construction of workforce housing in Monroe County.
NCSHA Washington Report | September 27, 2019
Whether you think Amazon, Microsoft, Facebook, Google, and Airbnb have gotten too much credit or not enough for recent commitments that exceed $2 billion combined for affordable housing...
RIHousing Issues Inaugural Sustainability Bonds to Support Affordable Housing
RIHousing announced the issuance of $73.6 million of new bonds, the first ‘Sustainability Bonds’ to be offered by the agency. The sale of the bonds will fund the acquisition and rehabilitation of 752 rental homes for low and moderate-income Rhode Islanders. “Rhode Island is leading in the fight against climate change. Here in the Ocean State, we’re committed to reducing our energy consumption and protecting our natural resources,” said Stefan Pryor, Rhode Island Secretary of Commerce.
Chris Flannery Joins VHFA as Chief Financial Officer
Executive Director Maura Collins announced that Vermont Housing Finance Agency (VHFA) has selected Chris Flannery as its new Chief Financial Officer (CFO), following an extensive national search. Flannery comes to VHFA from Oak Ridge Financial in Minneapolis, where he served as Managing Director, Structured Finance. Prior to working at Oak Ridge, Flannery served as VHFA’s Financial Advisor from 2005 to 2017 while working at Piper Jaffray in Minneapolis.
MassHousing Closes on $66.1 Million in Financing for the Third Phase of the Redevelopment of the Anne M. Lynch Homes at Old Colony in South Boston
MassHousing has closed on $66.1 million in affordable housing financing to affiliates of Beacon Communities LLC, to advance the redevelopment of obsolete public housing at the Anne M. Lynch Homes at Old Colony in South Boston. Originally constructed in 1940, Old Colony is one of the oldest federal public housing developments in the country and is one of the most distressed properties in the Boston Housing Authority’s (BHA) federal portfolio.
MassHousing Closes on $22.7 Million to extend Affordability for 50 Years, Make Property Renovations, and Add Four New Units, at Holyoke Housing Community
MassHousing has closed on $22.7 million in affordable housing financing to an affiliate of Maloney Properties, for the rehabilitation of the Holyoke Farms affordable housing community in Holyoke. The MassHousing financing will allow Maloney Properties to undertake substantial property renovations, and to construct 12 new apartments at the 229-unit development. As part of the financing transaction, Maloney Properties will extend affordability at the property for at least 50 years.
Developers Mark Completion of Dacotah Ridge Redevelopment
Affordable Housing Developers Inc. (AHDI) and its development partner, Mountain Plains Equity Group (MPEG), marked the completion of the Dacotah Ridge Apartments redevelopment today by hosting an Open House. AHDI purchased the property from The ARC of Dickinson in 2017. Local, state and federal dollars supported the acquisition and rehab of the rental property that is occupied primarily by elderly and disabled households.
Ribbons Cut on New Affordable Apartments in Barrington
Partners and elected officials gather to celebrate the completion of 46 new rental homes PROVIDENCE, RI – Congressman David Cicilline recently joined state and local officials, representatives of...
Florida Housing Board Approves Funding in Hurricane Irma Impacted Monroe County
The Florida Housing Finance Corporation (Florida Housing) Board of Directors during today’s board meeting unanimously approved funding for four developments in hurricane-impacted Monroe County. This past July, Florida Housing issued a request for application (RFA) offering $25 million of the Rebuild Florida Workforce Housing Program for the construction of workforce housing in Monroe County.
NCSHA Washington Report | September 20, 2019
We’ve argued before that the common characterization of rural America as doomed to fall further behind faster growing urban areas is often wrong. In fact, many rural areas...
