Federal Reserve: Applications Open for Members of the Community Advisory Council
The Federal Reserve Board announced on Monday that it is accepting applications from individuals who wish to be considered for membership on the Community Advisory Council, or CAC, which advises the Board on issues affecting consumers and communities. It is made up of a diverse group of experts and representatives of consumer and community development…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of Duluth, MN to Preserve 387 Homes for Low-Income Families
Transaction will allow for King Manor and Tri-Towers rental homes to remain permanently affordable to low-income Duluth residents on the Project-Based Rental Assistance platform The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on March 24 closed a Rental Assistance Demonstration (RAD) transaction with the Housing and Redevelopment Authority (HRA) of Duluth,…
OCC: Acting Comptroller Launches Project REACh Efforts in Dallas
Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, bankers, and business leaders to launch Dallas REACh. The Office of the Comptroller of the Currency (OCC) launched Project REACh, the Roundtable for Economic Access and Change, to bring together leaders from the banking industry, civil rights organizations, business, and technology…
HUD: FHA Insures $12 Million Mortgage for Urban Redevelopment of Affordable Multifamily Housing in Baltimore
Insurance endorsement provided by FHA supports affordable financing to create 87 rental homes throughout several lots The Federal Housing Administration (FHA) announced on March 17 the final endorsement and completed construction of a $12 million loan insured under FHA’s 221(d)(4) mortgage insurance program for Marshall Gardens in Baltimore, Maryland. The property was named after Thurgood…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of Kansas City, MO to Create Mixed-Income Community
Transaction is final part of seven-phase Paseo Gateway redevelopment process The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on February 25closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of Kansas City, Missouri (HAKC) and Brinshore Development, to create 62 mixed-income homes at the new Sam Rodgers Place. Sam…
HUD: Over $2.4 Million Awarded to Fight Housing Discrimination Related to the Coronavirus Pandemic
Funds will support and promote fair housing nationwide The U.S. Department of Housing and Urban Development (HUD) announced today that it is providing $2,472,310 in American Rescue Plan (ARP) funding to help 11 HUD Fair Housing Initiatives Program (FHIP) agencies combat housing discrimination related to the COVID-19 pandemic. The funds, which are being awarded under…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Cuyahoga Metropolitan Housing Authority
174 units of deeply affordable rental homes to be preserved for low-income seniors in Cleveland, Ohio The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on February 28 announced that it has closed a Rental Assistance Demonstration (RAD) transaction with the Cuyahoga Metropolitan Housing Authority (CMHA) in Cuyahoga County, Ohio, to preserve…
HUD: FHA Insures $24.5 Million Mortgage for Affordable Multifamily Housing in Northeast Denver
Insurance endorsement provided by FHA supports affordable financing to create 119 rental homes The Federal Housing Administration (FHA) announced on [February 28] that it has closed on a $24.5 million loan insured under FHA’s 221(d)(4) new construction mortgage insurance program for Wildhorse Ridge in Denver, Colorado. The insured loan will be used to finance the…
FHFA: $1.1 Billion Announced for Affordable Housing Programs
Largest amount ever disbursed to Housing Trust Fund and Capital Magnet Fund Today, FHFA Acting Director Sandra L. Thompson announced that the Housing Trust Fund and Capital Magnet Fund will receive a total of $1.138 billion for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises). This is the largest amount ever provided…