Maryland’s Department of Housing & Community Development has issued a new Multifamily Housing Notice (10-10) to its developers, sponsors and housing contacts pertaining to the Fall 2010 Competitive Funding Round.
Fall 2010 Competitive Funding Round Update
The Maryland Department of Housing and Community Development (DHCD) received 25 applications requesting $40.0 million of Rental Housing Funds (RHF) and $25.5 million of federal Low Income Housing Tax Credits (LIHTC) in the Fall 2010 Competitive Funding Round. Applications were due on October 12, 2010. Three applications also requested $1.9 million from the Partnership Rental Housing Program and four applications requested $0.9 million in Multifamily Energy Efficiency and Housing Affordability (MEEHA) Program funding. The 25 applications propose to create or rehabilitate 1,110 family and 750 senior units in 15 counties. DHCD expects to make funding announcements in mid-December.
Update on DHCD Financing for FY 2010 and FY 2011, including 2010 Tax Credit Recipient List
Currently, DHCD has 45 projects under construction throughout the State; 28 of these projects received ARRA-funding through the Tax Credit Assistance Program (TCAP) and Section 1602 Tax Credit Exchange Program (1602 Program).
In State FY 2010, DHCD closed on the financing of 38 projects with 3,179 units in 14 counties (including Baltimore City). To date in FY 2011, DHCD has closed on the financing of an additional 11 projects with 1,123 units in 9 counties (including Baltimore City). Seven (7) of these closings involved the New Issue Bond Program. Two (2) additional NIBP financed projects are slated to close by the end of calendar year 2010.
A recipient list for all projects that received Low Income Housing Tax Credits during calendar year 2010 as of November 1, 2010 is posted to DHCD’s website at http://mdhousing.org/Website/Programs/lihtc/Default.aspx
Please note, that additional information regarding ARRA-funding awarded to these and other projects through the Tax Credit Assistance Program (TCAP) and the Section 1602 Tax Credit Exchange Program (1602 Program) is available at the following websites:
http://mdhousing.org/Website/programs/section1602/Default.aspx
http://mdhousing.org/Website/programs/tcap/Default.aspx
Deadlines for Calendar Year 2011 Competitive Funding Rounds
Applications for the Spring 2011 Competitive Funding Round are due Tuesday, April 12, 2011 at 5:00 PM. Applications for the Fall 2011 Competitive Funding Round are due Tuesday, September 20, 2011 at 5:00 PM.
