Maryland’s Department of Housing and Community Development recently issued a notice to multifamily development professionals that announces critical updates to Maryland’s 2010 funding programs, and reminds developers of the February 23, 2010 competitive funding round application deadline. The memo provides the following updates:
- Construction Cost Limit Update — Construction or rehabilitation costs, the applicable maximum construction costs per gross square foot are updated for different building types.
- Announces the opening of the New Issue Bond Program — Multifamily. DHCD is requesting Expressions of Interest by no later than February 12, 2010.
- Multifamily Energy Efficiency Progams — Announces that applications for energy audits under the MD-BRAC Green Grant Program are being accepted for developments located in Cecil and Frederick Counties. Energy audit applications under the Multifamily Energy Efficiency and Housing Affordability (MEEHA) program are no longer being accepted.
- Metropolitan Baltimore Quadel Funding Available — Announces the availability of funds for developers or property owners of multifamily units in the Baltimore-area to support the development of affordable rental housing through the Baltimore Special Mobility Program. The Program aims to increase the supply of affordable rental housing in specific neighborhoods throughout the Baltimore region.