Doing to Help Rural Communities? 2015 RMC Rural Summit Thursday - - PowerPoint PPT Presentation

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Doing to Help Rural Communities? 2015 RMC Rural Summit Thursday - - PowerPoint PPT Presentation

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Maryland Department of Housing and Community Development Secretary Kenneth C. Holt What Is The Maryland Department of Housing and Community Development Doing to Help Rural Communities? 2015 RMC Rural Summit Thursday December 3, 2015

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

What Is The Maryland Department of Housing and Community Development Doing to Help Rural Communities?

2015 RMC Rural Summit Thursday December 3, 2015

Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

MARYLAND DHCD

  • Maryland’s State Housing Finance

Agency

  • Acts as a community bank, facilitating

production of housing opportunities and community development across the state

  • Works in partnership with the private

sector and local governments

  • Creative capital provider for local

priorities

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SLIDE 3

Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

KEY FIN INANCING PROGRAMS

  • Neighborhood BusinessWorks
  • Local Government Infrastructure

Finance Program

  • WholeHome
  • Multifamily Rental Financing
  • Neighborhood Revitalization Program
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SLIDE 4

Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

NEIG IGHBORHOOD BUSINESSWORKS

  • The State’s premiere small business

loan program

  • Gap financing
  • Strengthens commercial districts and

town centers

  • In growth mode; creating new

financing tools and seeking input about needs

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SLIDE 5

Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

NEIG IGHBORHOOD BUSINESSWORKS PURPOSE

  • Revitalization
  • Commercial/retail to generate street

level activity

  • Improve vacant/underutilized buildings
  • High level neighborhood impact
  • Support mixed use development!
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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

NBW RESULTS SIN INCE 1996

  • Funded more than $89 million
  • Participated in 600+ projects
  • Created/sustained 12,000+ jobs across

Maryland

  • Leveraged $399 million in private

investment

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

NEIG IGHBORHOOD BUSIN INESSWORKS PROJECTS

Arrow Bicy Bicycle le, , Hya yatt ttsvill lle Joie Joie De Vivr vre, Cam Cambridge Big Big Ba Bad Woof, f, Hya yattsville lle Roscoe’s Neapolitan Pizzeria, Takoma Par Park

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

LOCAL GOVERNMENT IN INFRASTRUCTURE FIN INANCE PROGRAM

  • Offers Maryland counties and

municipalities a cost effective way to finance public purpose capital projects

  • Enabling the delivery of essential

services to support communities and the people they serve.

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SLIDE 9

Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

LGIF MAP

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

PROJECTS FUNDED BY LGIF IF

8

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

WHOLEHOME PROGRAM

  • Help preserve houses and lower

homeowner utility costs while improving comfort for Maryland residents

  • Low interest loans and grants to help

Maryland homebuyers fix and upgrade their homes

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

Housing Rehabilitation Plumbing Septic Accessible Homes For Seniors (55) LEAD Hazard Reduction

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

Up to to 30 Years rs In Inte terest Rate tes of

  • f 0%,

, 2%, , 4% Rate tes based on

  • n affo

ffordabilit ity— abil ility to to re repay

Pa Payments may ay be defe ferred for for very very low low inco come bo borr rrowers De Deed of f Tru rust for for loa loans > > $5 $5,0 ,000 No Note for for loa loans < < $5 $5,0 ,000

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

MULTIF IFAMILY RENTAL FIN INANCING PROGRAMS

Outco come FY 2014 (a (act ctual) FY 2015 (a (act ctual) FY 2016 (pro (proje jecte ted)

Produce New ew Units (#) 631 1,435 815 Preserve e Ex Existi ting Units (#) 1,776 1,525 2,445

TO TOTAL PRODUCTION & PRE RESERVATION (# (#) 2,407 2,960 3,260 TO TOTAL PROJECT CO COSTS ($ ($) ) $489,449,982 $593,665,222 $653,000,000

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

WHAT’S HOT…

  • Qualified Allocation Plan and Guide

Update

– Regional meetings in December – Comments are encouraged

  • Current Funding Round – December

decisions

  • Rental Assistance Demonstration (RAD)
  • New Financing Techniques (Freddie,

Fannie, HUD-FHA) for Tax-exempt bond deals

  • Exploring providing financing for mixed-

use (residential and commercial) projects via Neighborhood BusinessWorks and Multifamily.

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

RIV RIVERS ED EDGE AP APAR ARTMENTS AN AND ST STUDIO FOR OR THE E ART ARTS

Salisbury, Maryland Wicomico County

The End d Res esult lt: Rec ecent Mul ultif ifamily Dev evelopment

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

NEIG IGHBORHOOD REVITALIZATION’S TWO FOLD FOCUS

PLACES NR’s “place-based” investments are largely focused on residential neighborhoods and business districts that have been identified by local governments as priorities for reinvestment and economic development. These Sustainable Community Areas (SCAs) are designated as a “priority revitalization target” for local and state agency investment. PEOPLE NR responds to pressing community service needs such as:

  • Foreclosure prevention
  • Homelessness prevention, including the new Youth Count and Families First initiatives
  • Increasing access to fresh foods, including through the new Food Desert initiative
  • Natural disaster response, including response to Hurricane Sandy
  • Strengthening family finances, through expanded access to the Earned Income Tax Credit

(EITC) via MD's Community Action Agencies and MD CASH Campaign

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development

NR DIV IVIS ISION PROGRAMS

  • Key State Programs:
  • Revitalization: Community Legacy, Strategic Demolition, Main Street

Maryland, and Community Investment Tax Credit

  • Financial Education: Maryland Housing Counseling Fund
  • Homelessness Prevention: ESG, RAP and YouthREACH
  • Key Federally Funded Programs:
  • Emergency Solutions Grants (HUD)
  • Community Development Block Grants (HUD)
  • Community Services Block Grants (HHS)
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Secretary Kenneth C. Holt

Maryland Department of Housing and Community Development 22

CONCLUSION

Conta tact Info formation:

John Maneval CDA Deputy Director Multifamily Housing and Neighorhood BusinessWorks John.Maneval@Maryland.gov 301-429-7714