Maryland Tag Archives

Maryland Notice on Taxable/Tax-Exempt Financing Technique

The Maryland Department of Housing and Community Development (DHCD) issued Multifamily Notice 20-15 concerning the use of the “Taxable/Tax-Exempt Financing” technique. DHCD is now expanding the financing technique to include projects that rely on subordinate financing from DHCD through Rental Housing Works (RHW) and other subordinate financing programs of DHCD. This modification is retroactively effective for applications submitted for financing, and DHCD will work with individual projects in underwriting to set the best course forward for each deal.

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Maryland Reopens Assisted Housing Relief Program

On August 3, the Maryland Department of Housing & Community Development (DHCD) reopened the Assisted Housing Relief Program. Tenants in eligible properties may receive assistance for unpaid rents for the period beginning April 1st and ending July 31, 2020. Assistance will be paid directly to the property. The program is limited to rental units in multifamily projects with State financing or Low-Income Housing Tax Credits (LIHTC).

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Maryland EOY Reporting Data Submission Due July 31

Owners or sponsors of a property receiving an allocation of LIHTCs are required to upload certain tenant data and project data through a portal provided by the Maryland Department of Housing and Community Development (DHCD), which data will ultimately be uploaded to HUD. The portal will be ready to receive your data uploads on June 15, 2020. All uploads must be completed by July 31, 2020.

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Maryland Multifamily Loan Audits and Surplus Cash Advisory

For all Maryland Department of Housing and Community Development (Department) Community Development Administration (CDA) cash-flow loans, the deadline for submitting property audits is extended 30 days from April 1 to May 1. No prior notification to the Department is required to take advantage of this extension. No penalties for submission after April 1 but by May 1 will be assessed. Any prior penalties are unaffected.

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